H.R. 4494

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

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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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