US Congress Senate Bill 1058 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on April 8 2019 - 25% progression, died in committee
Action: 2019-04-08 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Modifies the requirements for calculating taxable income to exclude from gross income any earthquake loss mitigation received by a residential property owner or occupant under a state-based earthquake loss mitigation program. "Earthquake loss mitigation" is any property or service that reduces seismic risks to a residential structure or its contents. The term includes any payment, reimbursement, loan, loan forgiveness, grant, credit, rebate, voucher, or other financial incentive for the property or service. The bill applies to earthquake loss mitigation programs established by a state (including an agency, instrumentality, or political subdivision of the state) or by a state with a tax-exempt organization or public instrumentality of the state.

Earthquake Mitigation and Tax Parity Act

Sen. Kamala Harris [D-CA]

Sen. Dianne Feinstein [D-CA]

Date	Chamber	Action
2019-04-08	Senate	Read twice and referred to the Committee on Finance.

HB2053 (Related) 2019-04-03 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/1058/all-info
Text	https://www.congress.gov/116/bills/s1058/BILLS-116s1058is.pdf