119-hr1093

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1093 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
 H. R. 1093

 To amend the Internal Revenue Code of 1986 to increase the dollar 
threshold applicable to information reporting with respect to payments 
 for qualified natural disaster expenses.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 February 6, 2025

 Ms. Pettersen (for herself and Mr. LaMalfa) introduced the following 
 bill; which was referred to the Committee on Ways and Means

_______________________________________________________________________

 A BILL

 To amend the Internal Revenue Code of 1986 to increase the dollar 
threshold applicable to information reporting with respect to payments 
 for qualified natural disaster expenses.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Natural Disaster Property Protection 
Act of 2025''.

SEC. 2. INCREASE IN THRESHOLD REQUIRING INFORMATION REPORTING TO 
 RESPECT TO QUALIFIED NATURAL DISASTER EXPENSES.

    (a) Returns Regarding Payment in Course of Trade or Business.--

Section 6041 of the Internal Revenue Code of 1986 is amended by adding 
at the end the following new subsection:
 ``

    (h) Increased Threshold for Qualified Natural Disaster 
Expenses.--
 ``

    (1) In general.--In the case of a payment for a qualified 
 natural disaster expense, subsection

    (a) shall be applied by 
 substituting `$5,000' for `$600'.
 ``

    (2) Qualified natural disaster expense.--For purposes of 
 this subsection, the term `qualified natural disaster expense' 
 means--
 ``
        (A) an expense incurred to mitigate the risk 
 posed to real property by natural disasters or extreme 
 weather, or
 ``
        (B) an expense incurred to repair damage done to 
 real property by natural disasters or extreme 
 weather.''.

    (b) Returns Regarding Payments of Remuneration for Services.--

Section 6041A of such Code is amended by adding at the end the 
following new subsection:
 ``

    (g) Increased Threshold for Qualified Natural Disaster 
Expenses.--In the case of a payment for a qualified natural disaster 
expense (as defined in 

section 6041

    (h)

    (2) ), subsection

    (a)

    (2) shall be 
applied by substituting `$5,000' for `$600'.''.
            (c) Effective Date.--The amendments made by this section shall 
apply to amounts paid or incurred after the date of the enactment of 
this section.
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