Bill · S. 2313· Senate(119-S-2313)
Flood Insurance Relief Act
- Introduced
- 7/16/2025
- Last activity
- 7/16/2025 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Rick Scott
- Cosponsors
- - 1 - 0
- Introduced
- In Committee
What this bill would do
The Flood Insurance Relief Act aims to amend the Internal Revenue Code of 1986. It proposes to provide an above-the-line deduction for individuals who pay qualified flood insurance premiums for property they own. This includes premiums paid under the National Flood Insurance Act of 1968 or certain private flood insurance. The bill includes specific income limitations for those seeking this deduction. These changes would take effect for taxable years beginning after the Act is enacted.
Yes
Would middle-income households be better off under this?+5
Offers significant tax relief for homeowners through a new deduction for flood insurance premiums.
Does this cut taxes for middle-income families?+5
Provides an above-the-line deduction for flood insurance premiums which reduces the effective tax burden for many middle-income property owners.
Does this improve help for people hit by a disaster?+5
Provides financial relief for homeowners to mitigate the impact of flood-related disasters through insurance deductions.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Tax Deduction for Property Owners: Individuals can claim a deduction for qualified flood insurance premiums paid or incurred during the taxable year for property they own (Section 2, subsection a, paragraph 1).
-
Broad Definition of Qualified Premiums: The deduction covers various costs, including chargeable risk premium rates under the National Flood Insurance Act of s1968, private flood insurance premiums, Federal Policy Fees, and certain surcharges (Section 2, subsection a, paragraph 1, subsection c).
Potential Negative Impacts for People
- Income Limitations: The deduction is not available to all individuals, specifically those whose adjusted gross income exceeds $200,000 for a single taxpayer or $400,000 for a joint return (Section 2, subsection a, paragraph 1, subsection b, paragraph 1).
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 Middle Class Households+5
- Economy And Finance
- Reduces Middle Class Taxes+5
- Environment Energy And Infrastructure
- Improves Disaster Relief And F E M A+5
- 7/16/2025
- Read twice and referred to the Committee on Finance.
- 1 Cosponsor added.
- Introduced in Senate
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.
Ashley MoodyRepublican · Florida