H.R. 4494

119th CONGRESS 1st Session

To amend the Internal Revenue Code of 1986 to provide an above-the-line deduction for flood insurance premiums.

IN THE HOUSE OF REPRESENTATIVES · July 17, 2025 · Sponsor: Mr. Donalds · Committee: Committee on Ways and Means

Table of contents

• H.R. 4494
  • Sec. 226. Flood insurance premiums.

Sec. 226. Flood insurance premiums.

• (a) Deduction allowed
  • In the case of an individual, there shall be allowed as a deduction qualified flood insurance premiums paid or incurred during the taxable year with respect to property owned by the taxpayer.
  • Deduction allowed
• (b) Limitation
  • (1) In general
    • Subsection (a) shall not apply with respect to any taxpayer whose adjusted gross income for the taxable year exceeds $200,000 ($400,000 in the case of a joint return).
  • (2) Application
    • For purposes of paragraph (1), the adjusted gross income of the taxpayer shall be determined—
      • after application of sections 86, 135, 137, 219, 221, and 469, and
      • without regard to this section.
• (c) Qualified flood insurance premiums
  • For purposes of this section, the term qualified flood insurance premiums means—
    • any chargeable risk premium for flood insurance coverage under the program established under the National Flood Insurance Act of 1968 () or for coverage under private flood insurance, as defined in section 102(b) of the Flood Disaster Protection Act of 1973 (), 42 U.S.C. 4001 et seq.; 42 U.S.C. 4012a(b)
    • any Federal Policy Fee, as defined in Appendix A(1) to part 61 of title 44, Code of Federal Regulations, or any successor regulation,
    • any surcharge described in the matter after and below paragraph (4)(D) of section 1304(b) of the National Flood Insurance Act of 1968 (), and 42 U.S.C. 4011(b)
    • any premium surcharge under section 1308A of the National Flood Insurance Act of 1968 (). 42 U.S.C. 4015a