Bill · H.R. 1169· House(119-HR-1169)
Wildfire Victim Tax Relief and Recovery Act
- Introduced
- 2/10/2025
- Last activity
- 2/10/2025 — Referred to the House Committee on Ways and Means.
- Sponsored by
- Ronny Jackson
- Cosponsors
- - 1 - 0
- Introduced
- In Committee
What this bill would do
This bill, titled the "Wildfire Victim Tax Relief and Recovery Act," seeks to provide tax relief for those affected by specific wildfires. It treats certain payments related to the Texas Panhandle fires as qualified disaster relief payments. These payments include compensation for losses, damages, expenses, or inconvenience resulting from specific fires like the Smokehouse Creek Fire. Additionally, the bill amends the Internal Revenue Code to include "fire" alongside "flood" regarding livestock. This applies to livestock sold because of a fire and the replacement of that livestock.
Yes· 3 of 8
Would farmers be better off under this?+6
Explicitly provides relief for livestock replacement and sales due to fire.
Would people in rural areas be better off under this?+5
Helps residents in the Texas Panhandle recover from wildfire damage.
Does this improve help for people hit by a disaster?+5
Provides tax exclusion for specific disaster relief payments related to Texas Panhandle fires.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Tax Relief for Fire Victims: Texas Panhandle fire payments will be treated as qualified disaster relief payments under section 139(b) of the Internal Revenue Code. This provides relief for individuals receiving compensation for losses, damages, real property value loss, or closing costs due to specific fires such as the Smokehouse Creek Fire (Section 2).
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Livestock Recovery Support: The bill amends the Internal Revenue Code to include "fire" in provisions regarding livestock sold on account of a disaster. This allows for the treatment of livestock as involuntary conversions due to fire, similar to floods (Section 3).
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Financial Flexibility for Livestock Owners: By amending section 451(g), the bill addresses the proceeds from livestock sold because of a fire, treating them similarly to those sold due to a flood (Section 4).
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 Farmers+6Good For Rural Residents+5Good For Business Owners+4Good For Middle Class Households+3
- Economy And Finance
- Improves Small Business Support+3Reduces Middle Class Taxes+3Reduces Small Business Taxes+2
- Environment Energy And Infrastructure
- Improves Disaster Relief And F E M A+5
- 2/25/2025
- 1 Cosponsor added.
- 2/10/2025
- Referred to the House Committee on Ways and Means.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Beth Van DuyneRepublican · Texas