To amend the Internal Revenue Code of 1986 to establish a deduction for attorney fees awarded with respect to certain wildfire damages and to exclude from gross income settlement funds received with respect to such damages.
Bill journey · stage 1 of 5
Just introduced
What it doesSummary introduced in house (Jan 9, 2023)
This bill allows a deduction from gross income (above the line deduction) for attorney fees and court costs awarded with respect to a qualifying wildfire disaster (i.e., any forest or range fire that is a federally declared disaster, occurs in a disaster area, and occurs in 2015 or later).
The bill excludes from the gross income of a taxpayer, for income tax purposes, amounts paid to compensate victims for losses or damages in connection with a qualifying wildfire disaster.
What just happenedJan 10, 2023
Sponsor introductory remarks on measure. (CR H120)
Who’s behind it
- Introduced in HouseJan 9, 2023
- Jan 10, 2023IntroReferralB00100
Sponsor introductory remarks on measure. (CR H120)
- Jan 9, 2023IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jan 9, 2023IntroReferralIntro-H
Introduced in House
- Jan 9, 2023IntroReferral1000
Introduced in House