Earthquake Mitigation Incentive and Tax Parity Act of 2017

Earthquake Mitigation Incentive and Tax Parity Act of 2017

This bill amends the Internal Revenue Code to exclude from gross income any amount received as a qualified earthquake mitigation payment. A qualified earthquake mitigation payment is any amount received by a residential property owner or occupant under an earthquake loss mitigation program 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.