H.R. 1093

119th CONGRESS 1st Session

To amend the Internal Revenue Code of 1986 to increase the dollar threshold applicable to information reporting with respect to payments for qualified natural disaster expenses.

IN THE HOUSE OF REPRESENTATIVES · February 6, 2025 · Sponsor: Ms. Pettersen · Committee: Committee on Ways and Means

SEC. 1. Short title

This Act may be cited as the Natural Disaster Property Protection Act of 2025.

SEC. 2. Increase in threshold requiring information reporting to respect to qualified natural disaster expenses

(a) Returns regarding payment in course of trade or business
- of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: Section 6041
  - (h) Increased threshold for qualified natural disaster expenses
    - (1) In general
      - In the case of a payment for a qualified natural disaster expense, subsection (a) shall be applied by substituting for . $5,000 $600
    - (2) Qualified natural disaster expense
      - For purposes of this subsection, the term means— qualified natural disaster expense
        
        an expense incurred to mitigate the risk posed to real property by natural disasters or extreme weather, or
        
        an expense incurred to repair damage done to real property by natural disasters or extreme weather.
(b) Returns regarding payments of remuneration for services
- (g) Increased threshold for qualified natural disaster expenses
  - In the case of a payment for a qualified natural disaster expense (as defined in section 6041(h)(2)), subsection (a)(2) shall be applied by substituting for . $5,000 $600
- Section 6041A of such Code is amended by adding at the end the following new subsection:
(c) Effective date
- The amendments made by this section shall apply to amounts paid or incurred after the date of the enactment of this section.

H.R. 1093

Table of contents

SEC. 1. Short title

SEC. 2. Increase in threshold requiring information reporting to respect to qualified natural disaster expenses