Earthquake Mitigation Incentive and Tax Parity Act of 2019

This bill modifies the requirements for calculating taxable income to exclude from gross income any amount received as a qualified earthquake mitigation payment.

A "qualified earthquake mitigation payment" is any amount received by a residential property owner or occupant under an earthquake loss mitigation program established by a state (including an agency, instrumentality, or political subdivision of the state) or by a state with a tax-exempt organization or public instrumentality of the state.