A bill to amend the Internal Revenue Code of 1986 to provide an above-the-line deduction for flood insurance premiums.
Flood Insurance Relief Act
This bill allows a new above-the-line tax deduction (used to determine adjusted gross income) for certain flood insurance premiums for taxpayers whose adjusted gross income does not exceed $200,000 ($400,000 for joint returns).
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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