119-hr4494

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4494 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
 H. R. 4494

To amend the Internal Revenue Code of 1986 to provide an above-the-line 
 deduction for flood insurance premiums.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 July 17, 2025

 Mr. Donalds 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 provide an above-the-line 
 deduction for flood insurance premiums.

 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 ``Flood Insurance Relief Act''.

SEC. 2. DEDUCTION FOR FLOOD INSURANCE PREMIUMS.

    (a) Allowance of Deduction.--

    (1) In general.--Part VII of subchapter B of chapter 1 of 
 the Internal Revenue Code of 1986, (as amended by Public Law 
 119-21) is amended by redesignating 

section 226 as 

section 227 
 and inserting after 

section 225 the following new section:

``

SEC. 226. FLOOD INSURANCE PREMIUMS.

 ``

    (a) Deduction Allowed.--In the case of an individual, there shall 
be allowed as a deduction qualified flood insurance premiums paid or 
incurred during the taxable year with respect to property owned by the 
taxpayer.
 ``

    (b) Limitation.--
 ``

    (1) In general.--Subsection

    (a) shall not apply with 
 respect to any taxpayer whose adjusted gross income for the 
 taxable year exceeds $200,000 ($400,000 in the case of a joint 
 return).
 ``

    (2) Application.--For purposes of paragraph

    (1) , the 
 adjusted gross income of the taxpayer shall be determined--
 ``
        (A) after application of sections 86, 135, 137, 
 219, 221, and 469, and
 ``
        (B) without regard to this section.
 ``
            (c) Qualified Flood Insurance Premiums.--For purposes of this 
section, the term `qualified flood insurance premiums' means--
 ``

    (1) any chargeable risk premium for flood insurance 
 coverage under the program established under the National Flood 
 Insurance Act of 1968 (42 U.S.C. 4001 et seq.) or for coverage 
 under private flood insurance, as defined in 

section 102

    (b) of 
 the Flood Disaster Protection Act of 1973 (42 U.S.C. 4012a

    (b) ),
 ``

    (2) any Federal Policy Fee, as defined in Appendix A

    (1) to part 61 of title 44, Code of Federal Regulations, or any 
 successor regulation,
 ``

    (3) any surcharge described in the matter after and below 
 paragraph

    (4)
            (D) of 

section 1304

    (b) of the National Flood 
 Insurance Act of 1968 (42 U.S.C. 4011

    (b) ), and
 ``

    (4) any premium surcharge under 

section 1308A of the 
 National Flood Insurance Act of 1968 (42 U.S.C. 4015a).''.

    (2) Clerical amendment.--The table of sections for part VII 
 of subchapter B of chapter 1 of such Code (as amended by Public 
 Law 119-21) is amended by redesignating the item relating to 
 

section 226 as relating to 

section 227 and by inserting after 
 the item relating to 

section 225 the following new item:

``

Sec. 226. Flood insurance premiums.''.

    (b) Deduction Allowed in Determining Adjusted Gross Income.--

Section 62

    (a) of the Internal Revenue Code of 1986 is amended by 
inserting after paragraph

    (21) the following new paragraph:
 ``

    (22) Flood insurance premiums.--The deduction allowed by 
 

section 226.''.
            (c) Conforming Amendments.--

    (1) Section 74
            (d) (2)
        (B) of the Internal Revenue Code of 
 1986 is amended by inserting ``226'' after ``221''.

    (2) Section 86

    (b)

    (2)
        (A) of such Code is amended by 
 inserting ``226,'' after ``221,''.

    (3) Section 135
            (c) (4)
        (A) of such Code is amended by 
 inserting ``226,'' after ``221,''.

    (4) Section 137

    (b)

    (3)
        (A) of such Code is amended by 
 inserting ``226'' after ``221,''.

    (5) Section 219

    (g)

    (3)
        (A)
            (ii) of such Code is amended by 
 inserting ``226,'' after ``221,''.

    (6) Section 221

    (b)

    (2)
            (C) 
            (ii) of such Code is amended by 
 inserting ``226,'' after ``219,''.

    (7) Section 469
            (i) (3)
        (E)
            (iii) of such Code is amended by 
 inserting ``226,'' after ``221,''.
            (d) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the date of the enactment of 
this Act.
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