Disaster Mitigation and Tax Parity Act of 2023

Senate Bill

S. 1953

119th Congress

Disaster Mitigation and Tax Parity Act of 2023

In Committee

Introduced:Jun 4, 2025

Primary Sponsor

Edward J. Markey

Senator

Democratic

MA

Cosponsors

12

Quick Stats

Policy Area

Taxation

Summary

The Disaster Mitigation and Tax Parity Act of 2023 would allow people to exclude payments they receive from state programs to make their homes more resistant to natural disasters like hurricanes, earthquakes, and wildfires from their taxable income. This could save homeowners money and encourage them to take steps to protect their properties.

Latest Action

Read twice and referred to the Committee on Finance.

SponsorEdward J. Markey (D-MA)

Introduced6/4/2025

StatusRead twice and referred to the Committee on Finance.

ChamberSenate

Data from Congress.gov

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Vote Prediction

Disaster Mitigation and Tax Parity Act of 2023

The Disaster Mitigation and Tax Parity Act of 2023 would allow people to exclude payments they receive from state programs to make their homes more resistant to natural disasters like hurricanes, earthquakes, and wildfires from their taxable income. This could

Community Breakdown

Pass

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Fail

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0 predictions

The Disaster Mitigation and Tax Parity Act of 2023 would allow people to exclude payments they receive from state programs to make their homes more resistant to natural disasters like hurricanes, earthquakes, and wildfires from their taxable income. This could save homeowners money and encourage them to take steps to protect their properties.

Bill Number: 1953
Sponsor: Edward J. Markey (D-MA)
Introduced: 6/4/2025
Status: Read twice and referred to the Committee on Finance.
Policy Area: Taxation

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: Disaster Mitigation and Tax Parity Act of 2023
Bill Number: 1953
Sponsor: Edward J. Markey (D-MA)
Status: Read twice and referred to the Committee on Finance.
Introduced: 6/4/2025
Summary: The Disaster Mitigation and Tax Parity Act of 2023 would allow people to exclude payments they receive from state programs to make their homes more resistant to natural disasters like hurricanes, earthquakes, and wildfires from their taxable income. This could save homeowners money and encourage the

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

The Disaster Mitigation and Tax Parity Act of 2023 would allow people to exclude payments they receive from state programs to make their homes more resistant to natural disasters like hurricanes, earthquakes, and wildfires from their taxable income. This could save homeowners money and encourage them to take steps to protect their properties.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

Disaster Mitigation and Tax Parity Act of 2023 This bill excludes from gross income, for income tax purposes, any qualified catastrophe mitigation payment made under a state-based catastrophe loss mitigation program. A qualified catastrophe mitigation payment means any amount received for making improvements to an individual's property for the sole purpose of reducing the damage that would be done to such property by a windstorm, earthquake, or wildfire.

Key Points

Main provisions of the bill

The bill would exempt from federal income taxes any payments people receive from state programs to make their homes more disaster-resistant.
This could include things like reinforcing the structure, installing impact-resistant windows, or adding fire-resistant landscaping.
The goal is to incentivize homeowners to take steps to protect their properties and reduce the damage from future natural disasters.
This could benefit many homeowners in areas prone to hurricanes, earthquakes, wildfires, and other extreme weather events.
It may also save state and federal governments money in the long run by reducing the need for disaster relief spending.

How This Impacts Americans

Potential effects on citizens and communities

If passed, this bill would primarily benefit homeowners in disaster-prone regions who participate in state mitigation programs. It could encourage more people to take steps to make their homes more resilient, potentially reducing the destruction and recovery costs from future natural disasters. This could have a positive impact on both individual families and local/state governments that provide disaster relief.

Policy Areas

Primary Policy Area

Taxation

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

1953, 119th Congress (2025). "Disaster Mitigation and Tax Parity Act of 2023". Source: Voter's Right Platform. https://votersright.org/bills/118-s-1953