| 1 | 1 | | II |
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| 2 | 2 | | 119THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION S. 1323 |
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| 5 | 5 | | To amend the Internal Revenue Code of 1986 to provide a refundable credit |
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| 6 | 6 | | against tax for disaster mitigation expenditures. |
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| 7 | 7 | | IN THE SENATE OF THE UNITED STATES |
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| 8 | 8 | | APRIL8, 2025 |
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| 9 | 9 | | Mr. S |
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| 10 | 10 | | CHIFF(for himself and Mr. SHEEHY) introduced the following bill; which |
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| 11 | 11 | | was read twice and referred to the Committee on Finance |
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| 12 | 12 | | A BILL |
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| 13 | 13 | | To amend the Internal Revenue Code of 1986 to provide |
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| 14 | 14 | | a refundable credit against tax for disaster mitigation |
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| 15 | 15 | | expenditures. |
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| 16 | 16 | | Be it enacted by the Senate and House of Representa-1 |
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| 17 | 17 | | tives of the United States of America in Congress assembled, 2 |
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| 18 | 18 | | SECTION 1. SHORT TITLE. 3 |
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| 19 | 19 | | This Act may be cited as the ‘‘The Facilitating In-4 |
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| 20 | 20 | | creased Resilience, Environmental Weatherization And 5 |
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| 21 | 21 | | Lowered Liability (FIREWALL) Act’’. 6 |
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| 22 | 22 | | SEC. 2. REFUNDABLE PERSONAL CREDIT FOR DISASTER 7 |
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| 23 | 23 | | MITIGATION EXPENDITURES. 8 |
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| 24 | 24 | | (a) I |
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| 25 | 25 | | NGENERAL.—Subpart C of part IV of sub-9 |
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| 26 | 26 | | chapter A of chapter 1 of the Internal Revenue Code of 10 |
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| 28 | 28 | | ssavage on LAPJG3WLY3PROD with BILLS 2 |
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| 29 | 29 | | •S 1323 IS |
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| 30 | 30 | | 1986 (relating to refundable credits) is amended by insert-1 |
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| 31 | 31 | | ing after section 36B the following new section: 2 |
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| 32 | 32 | | ‘‘SEC. 36C. DISASTER MITIGATION EXPENDITURES. 3 |
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| 33 | 33 | | ‘‘(a) A |
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| 34 | 34 | | LLOWANCE OFCREDIT.—In the case of an in-4 |
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| 35 | 35 | | dividual, there shall be allowed as a credit against the tax 5 |
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| 36 | 36 | | imposed by this chapter for the taxable year an amount 6 |
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| 37 | 37 | | equal to 50 percent of the qualified disaster mitigation ex-7 |
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| 38 | 38 | | penditures made by the taxpayer during such taxable year. 8 |
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| 39 | 39 | | ‘‘(b) M |
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| 40 | 40 | | AXIMUMCREDIT.— 9 |
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| 41 | 41 | | ‘‘(1) I |
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| 42 | 42 | | N GENERAL.—Subject to paragraphs (2) 10 |
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| 43 | 43 | | and (3), the credit allowed under subsection (a) to 11 |
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| 44 | 44 | | any taxpayer for any taxable year shall not exceed 12 |
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| 45 | 45 | | the excess of— 13 |
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| 46 | 46 | | ‘‘(A) $25,000 (or, in the case of a married 14 |
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| 47 | 47 | | individual filing a separate return, 50 percent 15 |
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| 48 | 48 | | of such amount), over 16 |
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| 49 | 49 | | ‘‘(B) the amount of credit allowed to the 17 |
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| 50 | 50 | | taxpayer under this section for all preceding 18 |
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| 51 | 51 | | taxable years. 19 |
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| 52 | 52 | | ‘‘(2) P |
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| 53 | 53 | | HASEOUT.—The amount under para-20 |
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| 54 | 54 | | graph (1) for the taxable year shall be reduced (but 21 |
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| 55 | 55 | | not below zero) by an amount which bears the same 22 |
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| 56 | 56 | | ratio to the amount under such paragraph as— 23 |
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| 57 | 57 | | ‘‘(A) the excess (if any) of— 24 |
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| 59 | 59 | | ssavage on LAPJG3WLY3PROD with BILLS 3 |
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| 60 | 60 | | •S 1323 IS |
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| 61 | 61 | | ‘‘(i) the taxpayer’s adjusted gross in-1 |
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| 62 | 62 | | come for such taxable year, over 2 |
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| 63 | 63 | | ‘‘(ii) $200,000, bears to 3 |
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| 64 | 64 | | ‘‘(B) $100,000. 4 |
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| 65 | 65 | | ‘‘(3) L |
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| 66 | 66 | | IMITATION IN THE CASE OF JOINT OCCU -5 |
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| 67 | 67 | | PANCY.—In the case of any dwelling unit with re-6 |
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| 68 | 68 | | spect to which qualified disaster mitigation expendi-7 |
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| 69 | 69 | | tures are made and which is jointly occupied and 8 |
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| 70 | 70 | | used during any calendar year as a residence by two 9 |
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| 71 | 71 | | or more individuals, the following rules shall apply: 10 |
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| 72 | 72 | | ‘‘(A) M |
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| 73 | 73 | | AXIMUM EXPENDITURES .—The 11 |
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| 74 | 74 | | maximum amount of such expenditures which 12 |
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| 75 | 75 | | may be taken into account under subsection (a) 13 |
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| 76 | 76 | | by all such individuals with respect to such 14 |
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| 77 | 77 | | dwelling unit during such calendar year shall be 15 |
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| 78 | 78 | | $25,000. 16 |
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| 79 | 79 | | ‘‘(B) A |
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| 80 | 80 | | LLOCATION OF EXPENDITURES .— 17 |
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| 81 | 81 | | The expenditures allocated to any individual for 18 |
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| 82 | 82 | | the taxable year in which such calendar year 19 |
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| 83 | 83 | | ends shall be an amount equal to the lesser 20 |
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| 84 | 84 | | of— 21 |
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| 85 | 85 | | ‘‘(i) the amount of expenditures made 22 |
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| 86 | 86 | | by such individual with respect to such 23 |
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| 87 | 87 | | dwelling during such calendar year, or 24 |
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| 89 | 89 | | ssavage on LAPJG3WLY3PROD with BILLS 4 |
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| 90 | 90 | | •S 1323 IS |
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| 91 | 91 | | ‘‘(ii) the maximum amount of such ex-1 |
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| 92 | 92 | | penditures set forth in subparagraph (A) 2 |
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| 93 | 93 | | multiplied by a fraction— 3 |
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| 94 | 94 | | ‘‘(I) the numerator of which is 4 |
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| 95 | 95 | | the amount of such expenditures with 5 |
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| 96 | 96 | | respect to such dwelling made by such 6 |
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| 97 | 97 | | individual during such calendar year, 7 |
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| 98 | 98 | | and 8 |
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| 99 | 99 | | ‘‘(II) the denominator of which is 9 |
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| 100 | 100 | | the total expenditures made by all 10 |
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| 101 | 101 | | such individuals with respect to such 11 |
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| 102 | 102 | | dwelling during such calendar year. 12 |
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| 103 | 103 | | ‘‘(4) I |
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| 104 | 104 | | NFLATION ADJUSTMENT .— 13 |
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| 105 | 105 | | ‘‘(A) I |
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| 106 | 106 | | N GENERAL.—In the case of any 14 |
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| 107 | 107 | | taxable year after 2025, the $25,000 dollar 15 |
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| 108 | 108 | | amounts under paragraphs (1)(A) and (3), the 16 |
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| 109 | 109 | | $200,000 amount under paragraph (2)(A)(ii), 17 |
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| 110 | 110 | | and the $100,000 amount under paragraph (2) 18 |
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| 111 | 111 | | (B) shall each be increased by an amount equal 19 |
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| 112 | 112 | | to— 20 |
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| 113 | 113 | | ‘‘(i) such dollar amount, multiplied by 21 |
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| 114 | 114 | | ‘‘(ii) the cost-of-living adjustment de-22 |
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| 115 | 115 | | termined under section 1(f)(3) for the cal-23 |
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| 116 | 116 | | endar year in which the taxable year be-24 |
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| 117 | 117 | | gins, determined by substituting ‘calendar 25 |
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| 119 | 119 | | ssavage on LAPJG3WLY3PROD with BILLS 5 |
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| 120 | 120 | | •S 1323 IS |
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| 121 | 121 | | year 2024’ for ‘calendar year 2016’ in sub-1 |
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| 122 | 122 | | paragraph (A)(ii) thereof. 2 |
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| 123 | 123 | | ‘‘(B) R |
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| 124 | 124 | | OUNDING.—If any reduction deter-3 |
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| 125 | 125 | | mined under subparagraph (A) is not a multiple 4 |
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| 126 | 126 | | of $50, or any increase under subparagraph (B) 5 |
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| 127 | 127 | | is not a multiple of $50, such amount shall be 6 |
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| 128 | 128 | | rounded to the nearest multiple of $50. 7 |
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| 129 | 129 | | ‘‘(c) D |
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| 130 | 130 | | EFINITIONS.—For purposes of this section— 8 |
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| 131 | 131 | | ‘‘(1) Q |
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| 132 | 132 | | UALIFIED DISASTER MITIGATION EX -9 |
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| 133 | 133 | | PENDITURE.— 10 |
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| 134 | 134 | | ‘‘(A) I |
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| 135 | 135 | | N GENERAL.—The term ‘qualified 11 |
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| 136 | 136 | | disaster mitigation expenditure’ means an ex-12 |
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| 137 | 137 | | penditure relating to a qualified dwelling unit— 13 |
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| 138 | 138 | | ‘‘(i) for property to— 14 |
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| 139 | 139 | | ‘‘(I) improve the strength of a 15 |
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| 140 | 140 | | roof deck attachment, 16 |
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| 141 | 141 | | ‘‘(II) create a secondary water 17 |
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| 142 | 142 | | barrier to prevent water intrusion or 18 |
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| 143 | 143 | | mitigate against potential water intru-19 |
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| 144 | 144 | | sion from wind-driven rain, 20 |
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| 145 | 145 | | ‘‘(III) improve the durability, im-21 |
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| 146 | 146 | | pact resistance (not less than class 3 22 |
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| 147 | 147 | | or 4 rating), or fire resistance (not 23 |
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| 148 | 148 | | less than class A rating) of a roof cov-24 |
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| 149 | 149 | | ering, 25 |
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| 151 | 151 | | ssavage on LAPJG3WLY3PROD with BILLS 6 |
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| 152 | 152 | | •S 1323 IS |
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| 153 | 153 | | ‘‘(IV) brace gable-end walls, 1 |
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| 154 | 154 | | ‘‘(V) reinforce the connection be-2 |
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| 155 | 155 | | tween a roof and supporting wall, 3 |
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| 156 | 156 | | ‘‘(VI) protect openings from pen-4 |
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| 157 | 157 | | etration by wind-borne debris, 5 |
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| 158 | 158 | | ‘‘(VII) protect exterior doors and 6 |
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| 159 | 159 | | garages from natural hazards, 7 |
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| 160 | 160 | | ‘‘(VIII) complete measures con-8 |
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| 161 | 161 | | tained in the publication of the Fed-9 |
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| 162 | 162 | | eral Emergency Management Agency 10 |
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| 163 | 163 | | entitled ‘Wind Retrofit Guide for Res-11 |
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| 164 | 164 | | idential Buildings’ (P–804), 12 |
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| 165 | 165 | | ‘‘(IX) elevate the qualified dwell-13 |
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| 166 | 166 | | ing unit, as well as utilities, machin-14 |
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| 167 | 167 | | ery, or equipment, above the base 15 |
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| 168 | 168 | | flood elevation or other applicable 16 |
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| 169 | 169 | | minimum elevation requirement, 17 |
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| 170 | 170 | | ‘‘(X) seal walls in the basement 18 |
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| 171 | 171 | | of the qualified dwelling unit using 19 |
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| 172 | 172 | | waterproofing compounds, or 20 |
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| 173 | 173 | | ‘‘(XI) protect propane tanks or 21 |
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| 174 | 174 | | other external fuel sources, 22 |
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| 175 | 175 | | ‘‘(ii) to install— 23 |
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| 176 | 176 | | ‘‘(I) check valves to prevent flood 24 |
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| 177 | 177 | | water from backing up into drains, 25 |
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| 179 | 179 | | ssavage on LAPJG3WLY3PROD with BILLS 7 |
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| 180 | 180 | | •S 1323 IS |
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| 181 | 181 | | ‘‘(II) flood vents, breakaway 1 |
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| 182 | 182 | | walls or open lattice for homes located 2 |
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| 183 | 183 | | in V zones, 3 |
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| 184 | 184 | | ‘‘(III) a stormwater drainage sys-4 |
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| 185 | 185 | | tem or improve an existing system, 5 |
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| 186 | 186 | | ‘‘(IV) natural or nature-based 6 |
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| 187 | 187 | | features for flood control, including 7 |
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| 188 | 188 | | living shorelines, 8 |
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| 189 | 189 | | ‘‘(V) roof coverings, sheathing, 9 |
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| 190 | 190 | | flashing, roof and attic vents, eaves, 10 |
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| 191 | 191 | | or gutters that conform to ignition-re-11 |
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| 192 | 192 | | sistant construction standards, 12 |
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| 193 | 193 | | ‘‘(VI) wall components for wall 13 |
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| 194 | 194 | | assemblies that conform to ignition-re-14 |
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| 195 | 195 | | sistant construction standards, 15 |
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| 196 | 196 | | ‘‘(VII) a wall-to-foundation an-16 |
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| 197 | 197 | | chor or connector, or a shear transfer 17 |
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| 198 | 198 | | anchor or connector, 18 |
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| 199 | 199 | | ‘‘(VIII) wood structural panel 19 |
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| 200 | 200 | | sheathing for strengthening cripple 20 |
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| 201 | 201 | | walls, 21 |
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| 202 | 202 | | ‘‘(IX) anchorage of the masonry 22 |
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| 203 | 203 | | chimney to the framing, 23 |
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| 204 | 204 | | ‘‘(X) prefabricated lateral resist-24 |
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| 205 | 205 | | ing systems, 25 |
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| 207 | 207 | | ssavage on LAPJG3WLY3PROD with BILLS 8 |
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| 208 | 208 | | •S 1323 IS |
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| 209 | 209 | | ‘‘(XI) a standby generator sys-1 |
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| 210 | 210 | | tem consisting of a standby generator 2 |
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| 211 | 211 | | and an automatic transfer switch, 3 |
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| 212 | 212 | | ‘‘(XII) a storm shelter that meets 4 |
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| 213 | 213 | | the design and construction standards 5 |
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| 214 | 214 | | established by the International Code 6 |
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| 215 | 215 | | Council and the National Storm Shel-7 |
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| 216 | 216 | | ter Association (ICC–500), or a safe 8 |
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| 217 | 217 | | room that satisfies the criteria con-9 |
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| 218 | 218 | | tained in— 10 |
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| 219 | 219 | | ‘‘(aa) the publication of the 11 |
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| 220 | 220 | | Federal Emergency Management 12 |
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| 221 | 221 | | Agency entitled ‘Safe Rooms for 13 |
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| 222 | 222 | | Tornadoes and Hurricanes’ (P– 14 |
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| 223 | 223 | | 361), or 15 |
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| 224 | 224 | | ‘‘(bb) the publication of the 16 |
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| 225 | 225 | | Federal Emergency Management 17 |
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| 226 | 226 | | Agency entitled ‘Taking Shelter 18 |
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| 227 | 227 | | from the Storm’ (P–320), 19 |
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| 228 | 228 | | ‘‘(XIII) a lightning protection 20 |
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| 229 | 229 | | system, 21 |
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| 230 | 230 | | ‘‘(XIV) exterior walls, doors, win-22 |
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| 231 | 231 | | dows, or other exterior dwelling unit 23 |
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| 232 | 232 | | elements that conform to ignition-re-24 |
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| 233 | 233 | | sistant construction standards, 25 |
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| 235 | 235 | | ssavage on LAPJG3WLY3PROD with BILLS 9 |
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| 236 | 236 | | •S 1323 IS |
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| 237 | 237 | | ‘‘(XV) exterior deck or fence 1 |
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| 238 | 238 | | components that conform to ignition- 2 |
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| 239 | 239 | | resistant construction standards, 3 |
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| 240 | 240 | | ‘‘(XVI) structure-specific water 4 |
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| 241 | 241 | | hydration systems, including fire miti-5 |
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| 242 | 242 | | gation systems such as interior and 6 |
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| 243 | 243 | | exterior sprinkler systems, 7 |
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| 244 | 244 | | ‘‘(XVII) water capture and deliv-8 |
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| 245 | 245 | | ery systems to accommodate drought 9 |
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| 246 | 246 | | events or to decrease water use, in-10 |
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| 247 | 247 | | cluding the design of such systems, 11 |
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| 248 | 248 | | ‘‘(XVIII) flood openings for fully 12 |
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| 249 | 249 | | enclosed areas below the lowest floor 13 |
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| 250 | 250 | | of the dwelling unit, 14 |
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| 251 | 251 | | ‘‘(XIX) lateral bracing for wall 15 |
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| 252 | 252 | | elements, foundation elements, and 16 |
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| 253 | 253 | | garage doors or other large openings 17 |
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| 254 | 254 | | to resist seismic loads, or 18 |
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| 255 | 255 | | ‘‘(XX) automatic shutoff valves 19 |
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| 256 | 256 | | for water and gas lines, or 20 |
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| 257 | 257 | | ‘‘(iii) for services or equipment to— 21 |
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| 258 | 258 | | ‘‘(I) create buffers around the 22 |
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| 259 | 259 | | qualified dwelling unit through the re-23 |
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| 260 | 260 | | moval or reduction of flammable vege-24 |
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| 262 | 262 | | ssavage on LAPJG3WLY3PROD with BILLS 10 |
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| 263 | 263 | | •S 1323 IS |
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| 264 | 264 | | tation, including vertical clearance of 1 |
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| 265 | 265 | | tree branches, 2 |
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| 266 | 266 | | ‘‘(II) create buffers around the 3 |
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| 267 | 267 | | dwelling unit through— 4 |
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| 268 | 268 | | ‘‘(aa) the removal of exterior 5 |
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| 269 | 269 | | deck or fence components or igni-6 |
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| 270 | 270 | | tion-prone landscape features, or 7 |
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| 271 | 271 | | ‘‘(bb) replacement of the 8 |
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| 272 | 272 | | components or features described 9 |
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| 273 | 273 | | in item (aa) with components or 10 |
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| 274 | 274 | | features that conform to ignition- 11 |
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| 275 | 275 | | resistant construction standards, 12 |
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| 276 | 276 | | ‘‘(III) perform fire maintenance 13 |
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| 277 | 277 | | procedures identified by the Federal 14 |
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| 278 | 278 | | Emergency Management Agency or 15 |
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| 279 | 279 | | the United States Forest Service, in-16 |
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| 280 | 280 | | cluding fuel management techniques 17 |
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| 281 | 281 | | such as creating fuel and fire breaks, 18 |
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| 282 | 282 | | ‘‘(IV) gather and analyze water 19 |
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| 283 | 283 | | and weather data to better under-20 |
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| 284 | 284 | | stand the local climate and drought 21 |
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| 285 | 285 | | history, 22 |
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| 286 | 286 | | ‘‘(V) remove flammable vegeta-23 |
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| 287 | 287 | | tion within 5 feet of a structure, 24 |
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| 289 | 289 | | ssavage on LAPJG3WLY3PROD with BILLS 11 |
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| 290 | 290 | | •S 1323 IS |
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| 291 | 291 | | ‘‘(VI) determine the risk of nat-1 |
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| 292 | 292 | | ural disasters which may occur in the 2 |
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| 293 | 293 | | area in which the qualified dwelling 3 |
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| 294 | 294 | | unit is located, or 4 |
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| 295 | 295 | | ‘‘(VII) prevent smoke inhalation, 5 |
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| 296 | 296 | | such as air filters or other equipment 6 |
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| 297 | 297 | | designed to prevent smoke from enter-7 |
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| 298 | 298 | | ing the dwelling unit, 8 |
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| 299 | 299 | | ‘‘(iv) for property relating to satis-9 |
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| 300 | 300 | | fying the standards required for receipt of 10 |
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| 301 | 301 | | a FORTIFIED designation from the In-11 |
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| 302 | 302 | | surance Institute for Business and Home 12 |
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| 303 | 303 | | Safety, provided that the qualified dwelling 13 |
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| 304 | 304 | | unit receives such designation following in-14 |
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| 305 | 305 | | stallation of such property, or 15 |
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| 306 | 306 | | ‘‘(v) for any other hazard mitigation 16 |
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| 307 | 307 | | activity which has been identified by the 17 |
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| 308 | 308 | | Secretary, in consultation with the Admin-18 |
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| 309 | 309 | | istrator of the Federal Emergency Man-19 |
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| 310 | 310 | | agement Agency, for mitigation of a nat-20 |
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| 311 | 311 | | ural hazard. 21 |
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| 312 | 312 | | ‘‘(B) E |
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| 313 | 313 | | XCEPTION.—The term ‘qualified 22 |
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| 314 | 314 | | disaster mitigation expenditure’ shall not in-23 |
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| 315 | 315 | | clude any expenditure or portion thereof which 24 |
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| 316 | 316 | | is paid, funded, or reimbursed by a Federal, 25 |
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| 318 | 318 | | ssavage on LAPJG3WLY3PROD with BILLS 12 |
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| 319 | 319 | | •S 1323 IS |
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| 320 | 320 | | State, or local government entity, or any polit-1 |
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| 321 | 321 | | ical subdivision, agency, or instrumentality 2 |
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| 322 | 322 | | thereof. 3 |
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| 323 | 323 | | ‘‘(2) Q |
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| 324 | 324 | | UALIFIED DWELLING UNIT .—The term 4 |
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| 325 | 325 | | ‘qualified dwelling unit’ means, with respect to any 5 |
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| 326 | 326 | | taxpayer, a dwelling unit which is— 6 |
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| 327 | 327 | | ‘‘(A) located in any State or territory— 7 |
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| 328 | 328 | | ‘‘(i) in which a Federal natural dis-8 |
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| 329 | 329 | | aster declaration has been made within the 9 |
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| 330 | 330 | | preceding 10-year period with respect to a 10 |
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| 331 | 331 | | wildfire, hurricane, windstorm or flood, 11 |
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| 332 | 332 | | ‘‘(ii) which includes an area which, 12 |
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| 333 | 333 | | during the taxable year or the period of 13 |
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| 334 | 334 | | the 10 taxable years preceding such tax-14 |
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| 335 | 335 | | able year, has received hazard mitigation 15 |
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| 336 | 336 | | assistance through the Federal Emergency 16 |
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| 337 | 337 | | Management Agency in regard to any wild-17 |
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| 338 | 338 | | fire, hurricane, windstorm or flood which, 18 |
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| 339 | 339 | | with respect to the expenditure described 19 |
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| 340 | 340 | | in paragraph (1) which is made by the tax-20 |
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| 341 | 341 | | payer, is applicable to such expenditure, or 21 |
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| 342 | 342 | | ‘‘(iii) which includes an area which, 22 |
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| 343 | 343 | | with respect to any taxable year, has been 23 |
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| 344 | 344 | | designated as a community disaster resil-24 |
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| 345 | 345 | | ience zone (as defined in section 206(a) of 25 |
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| 347 | 347 | | ssavage on LAPJG3WLY3PROD with BILLS 13 |
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| 348 | 348 | | •S 1323 IS |
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| 349 | 349 | | the Robert T. Stafford Disaster Relief and 1 |
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| 350 | 350 | | Emergency Assistance Act (42 U.S.C. 2 |
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| 351 | 351 | | 5136(a))) as the result of a wildfire, hurri-3 |
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| 352 | 352 | | cane, windstorm or flood, and 4 |
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| 353 | 353 | | ‘‘(B) used as the principal residence (with-5 |
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| 354 | 354 | | in the meaning of section 121) of the taxpayer. 6 |
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| 355 | 355 | | ‘‘(d) O |
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| 356 | 356 | | THERRULES.— 7 |
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| 357 | 357 | | ‘‘(1) D |
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| 358 | 358 | | OCUMENTATION.—Any taxpayer claiming 8 |
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| 359 | 359 | | the credit under this section shall provide the Sec-9 |
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| 360 | 360 | | retary with adequate documentation regarding the 10 |
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| 361 | 361 | | specific qualified disaster mitigation expenditures 11 |
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| 362 | 362 | | made by the taxpayer during the taxable year, as 12 |
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| 363 | 363 | | well as such other information or documentation as 13 |
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| 364 | 364 | | the Secretary may require. 14 |
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| 365 | 365 | | ‘‘(2) D |
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| 366 | 366 | | ENIAL OF DOUBLE BENEFIT .—No deduc-15 |
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| 367 | 367 | | tion or other credit shall be allowed for expenditures 16 |
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| 368 | 368 | | which have been taken into account under this sec-17 |
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| 369 | 369 | | tion, and the basis of any property for which a cred-18 |
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| 370 | 370 | | it is allowed under this section shall be reduced by 19 |
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| 371 | 371 | | the amount of credit allowed.’’. 20 |
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| 372 | 372 | | (b) C |
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| 373 | 373 | | ONFORMINGAMENDMENTS.— 21 |
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| 374 | 374 | | (1) Section 6211(b)(4)(A) of the Internal Rev-22 |
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| 375 | 375 | | enue Code of 1986 is amended by inserting ‘‘, 36C’’ 23 |
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| 376 | 376 | | after ‘‘36B’’. 24 |
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| 378 | 378 | | ssavage on LAPJG3WLY3PROD with BILLS 14 |
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| 379 | 379 | | •S 1323 IS |
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| 380 | 380 | | (2) Section 1324(b)(2) of title 31, United 1 |
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| 381 | 381 | | States Code, is amended by inserting ‘‘, 36C’’ after 2 |
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| 382 | 382 | | ‘‘36B’’. 3 |
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| 383 | 383 | | (3) The table of sections for subpart C of part 4 |
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| 384 | 384 | | IV of subchapter A of chapter 1 of such Code is 5 |
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| 385 | 385 | | amended by inserting after the item relating to sec-6 |
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| 386 | 386 | | tion 36B the following new item: 7 |
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| 387 | 387 | | ‘‘Sec. 36C. Disaster mitigation expenditures.’’. |
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| 388 | 388 | | (c) EFFECTIVEDATE.—The amendments made by 8 |
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| 389 | 389 | | this section shall apply to taxable years beginning after 9 |
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| 390 | 390 | | December 31, 2024. 10 |
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| 391 | 391 | | Æ |
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| 393 | 393 | | ssavage on LAPJG3WLY3PROD with BILLS |
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