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US HB5366
Bill
Status
Engrossed
4/28/2026
Primary Sponsor
Greg Steube
Click for details
AI Summary
- Allows individuals to deduct personal casualty losses from federally declared major disasters with incident periods between July 5, 2025, and January 1, 2027, without meeting the standard 10% adjusted gross income threshold
- Reduces the per-casualty floor from $500 to $100 for qualified disaster losses and adds a "disaster loss deduction" that can be claimed in addition to the standard deduction
- Excludes qualified wildfire relief payments from gross income for wildfires occurring after December 31, 2014, covering compensation for property losses, living expenses, lost wages, personal injury, death, and emotional distress
- Wildfire relief payment exclusion applies only to payments received during taxable years 2026 through 2030, and only for losses not already compensated by insurance
- Introduced September 15, 2025, with bipartisan sponsorship (Steube, Thompson of California, LaMalfa, Panetta) and referred to the House Ways and Means Committee
Legislative Description
Doug LaMalfa Federal Disaster Tax Relief Certainty Act
Taxation
Last Action
Received in the Senate and Read twice and referred to the Committee on Finance.
4/28/2026
Committee Referrals
Finance4/28/2026
Ways And Means9/15/2025
Full Bill Text
No bill text available