To amend the Internal Revenue Code of 1986 to allow for a credit against tax for certain flood insurance expenses.
Flood Insurance Tax Credit Act of 2018
This bill amends the Internal Revenue Code to allow a tax credit for flood insurance expenses. The credit applies to portions of a taxpayer's expenses for federal flood insurance, private flood insurance, and federal contents coverage flood insurance for a principal residence. The amount of the credit is subject to limitations based on the taxpayer's income and must be adjusted for inflation after 2019.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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