Bill · H.R. 1093· House(119-HR-1093)
Natural Disaster Property Protection Act of 2025
- Introduced
- 2/6/2025
- Last activity
- 2/6/2025 — Referred to the House Committee on Ways and Means.
- Sponsored by
- Brittany Pettersen
- Cosponsors
- - 0 - 1
- Introduced
- In Committee
What this bill would do
This bill, known as the "Natural Disaster Property Protection Act of 2025," aims to change how certain payments are reported to the IRS. It seeks to amend the Internal Revenue Code of 1986 to increase the dollar threshold for information reporting. Specifically, it targets payments made for qualified natural disaster expenses. This includes costs to mitigate risks from extreme weather or to repair damage to real property. The new threshold would increase the current requirement from $600 to $5,000.
Yes· 3 of 11
Would business owners be better off under this?+3
Business owners will experience less administrative paperwork for payments made toward qualified natural disaster expenses.
Does this cut taxes for small businesses?+3
The bill reduces the administrative burden of reporting payments for natural disaster mitigation and repairs by increasing the reporting threshold from $600 to $5,000.
Does this make it easier to run a small business?+3
Small businesses engaged in disaster mitigation or repair work will face less paperwork due to the higher reporting threshold.
The opposite
Does this make what the government does easier for the public to see?-1
The bill reduces the amount of financial information regarding disaster-related payments that must be reported to the government.
Who it would affect, and how
Potential Positive Impacts for People
-
Increased reporting threshold for business payments: The bill changes the threshold for payments made in the course of a trade or business from $600 to $5,000 for qualified natural disaster expenses (Section 2(a)).
-
Increased reporting threshold for service payments: The bill changes the threshold for payments of remuneration for services from $600 to $5,000 for qualified natural disaster expenses (Section 2(b)).
-
Defined disaster expenses: The bill clarifies that these benefits apply to expenses used to mitigate risks posed to real property by natural disasters or extreme weather, or to repair damage caused by such events (Section 2(a)(2)).
Potential Negative Impacts for People
- No negative impacts are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+3Good For Low Income Households+1Good For Middle Class Households+1Good For Rural Residents+1Good For Urban Residents+1
- Economy And Finance
- Improves Small Business Support+3Reduces Small Business Taxes+3Improves Fiscal Responsibility+1
- Environment Energy And Infrastructure
- Improves Disaster Relief And F E M A+2Improves Environmental Protections+1
- Social Issues And Justice
- Improves Affordable Housing+2
- Governance And Ideology
- Improves Government Transparency-1
- 2/6/2025
- Referred to the House Committee on Ways and Means.
- 1 Cosponsor added.
- Introduced in House
Doug LaMalfaRepublican · California