I
119THCONGRESS
1
STSESSION H. R. 1169
To exclude certain amounts relating to compensating victims of the Texas
Panhandle fires, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
FEBRUARY10, 2025
Mr. J
ACKSONof Texas introduced the following bill; which was referred to the
Committee on Ways and Means
A BILL
To exclude certain amounts relating to compensating victims
of the Texas Panhandle fires, and for other purposes.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘Wildfire Victim Tax 4
Relief and Recovery Act’’. 5
SEC. 2. TEXAS PANHANDLE FIRE DISASTER RELIEF PAY-6
MENTS. 7
(a) I
NGENERAL.—Texas Panhandle fire payments 8
shall be treated as qualified disaster relief payments for 9
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purposes of section 139(b) of the Internal Revenue Code 1
of 1986. 2
(b) T
EXASPANHANDLEFIREPAYMENTS.—For pur-3
poses of this section, the term ‘‘Texas Panhandle fire pay-4
ment’’ means any amount received by or on behalf of an 5
individual as compensation for loss, damages, expenses, 6
loss in real property value, closing costs with respect to 7
real property (including realtor commissions), or inconven-8
ience (including access to real property) resulting from 9
any Texas Panhandle fire if such amount was provided 10
by— 11
(1) a Federal, State, or local government agen-12
cy, 13
(2) Xcel Energy, or 14
(3) any subsidiary, insurer, or agent of Xcel 15
Energy or any related person. 16
(c) T
EXASPANHANDLEFIRE.—For purposes of this 17
section, the term ‘‘Texas Panhandle fire’’ means any of 18
the following wildfires: 19
(1) The Smokehouse Creek Fire that ignited in 20
Hutchinson County, Texas, on February 26, 2024. 21
(2) The Windy Deuce Fire that ignited in 22
Moore County, Texas, on February 26, 2024. 23
(3) The Grape Vine Creek Fire that ignited in 24
Gray County, Texas, on February 26, 2024. 25
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(4) The 687 Reamer Fire that ignited in 1
Hutchinson County, Texas, on February 27, 2024. 2
(5) The Roughneck Fire that ignited in Hutch-3
inson County, Texas, on March 3, 2024. 4
(d) E
FFECTIVEDATE.—This section shall apply to 5
amounts received on or after February 26, 2024. 6
SEC. 3. INVOLUNTARY CONVERSIONS OF LIVESTOCK. 7
(a) L
IVESTOCKSOLD ONACCOUNT OFFIRE.— 8
(1) I
N GENERAL.—Section 1033(e)(1) of the 9
Internal Revenue Code of 1986 is amended by in-10
serting ‘‘fire’’ after ‘‘flood’’. 11
(2) E
XTENSION OF REPLACEMENT PERIOD .— 12
Section 1033(e)(2) of such Code is amended by in-13
serting ‘‘fire’’ after ‘‘flood’’. 14
(3) C
ONFORMING AMENDMENT .—The heading 15
for section 1033(e) of such Code is amended by in-16
serting ‘‘F
IRE’’ after ‘‘FLOOD’’. 17
(b) R
EPLACEMENT OF LIVESTOCKWITHOTHER 18
P
ROPERTY.—Section 1033(f) of such Code is amended by 19
inserting ‘‘fire’’ after ‘‘flood’’. 20
(c) E
FFECTIVEDATE.—The amendments made by 21
this section shall apply to taxable years beginning after 22
December 31, 2023. 23
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SEC. 4. PROCEEDS FROM LIVESTOCK SOLD ON ACCOUNT 1
OF FIRE. 2
(a) I
NGENERAL.—Section 451(g) of the Internal 3
Revenue Code of 1986 is amended by inserting ‘‘fire’’ 4
after ‘‘flood’’. 5
(b) C
ONFORMINGAMENDMENT.—The heading for 6
section 451(g) of such Code is amended by inserting 7
‘‘F
IRE’’ after ‘‘FLOOD’’. 8
(c) E
FFECTIVEDATE.—The amendments made by 9
this section shall apply to taxable years beginning after 10
December 31, 2023. 11
Æ
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