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Congressional Research Service
Version 00 · Introduced in House · Feb 6, 2025
Restoring Competitive Property Insurance Availability Act
This bill allows certain insurance companies to temporarily exclude premiums paid for real property insurance on property located in a federally-declared disaster area from the company's gross income for federal tax purposes.
Specifically, under the bill, an insurance company (other than a life insurance company) that provided real property insurance immediately prior to a federally-declared disaster for property located in the disaster area may exclude from gross income (1) the amount of premiums paid for such insurance, minus (2) any tax deductions properly attributed to such premiums. Further, such premiums may be excluded for the first five tax years ending after the date of the disaster.
People & committees
Rep. Higgins, Clay [R-LA-3] · R–LA
Legislative record
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Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
Primary sources
Text links open the official source. We also preserved the text version used in the PlainBill explanation below.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Jun 30, 2026. Consult Congress.gov for the current record.
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PlainBill explanation
Based on the full Introduced in House · 2025-02-06 text. This explanation has not received human editorial review. This overview describes the proposal’s major provisions; it does not establish what its real-world effects would be.
The bill would let eligible insurers exclude income from insuring property in disaster areas from their federal taxable gross income. Only non-life insurers already providing property insurance in the affected area immediately before the disaster's incident date could qualify. This tax relief would apply for five tax years; the supplied text is a proposal, not evidence of enacted law.
In the case of each taxable year in the recovery period, there shall be excluded from the gross income of each specified insurance company the qualified real property insurance income of such company for such taxable year with respect to any disaster area.
any insurance company (other than a life insurance company) which, immediately prior to the incident date with respect to such disaster area, provided real property insurance with respect to property located in such disaster area.
the first 5 taxable years ending after the incident date with respect to such disaster area.
2025-02-06: Introduced in House
Section 1 gives the proposal the short title “Restoring Competitive Property Insurance Availability Act.”
This Act may be cited as the Restoring Competitive Property Insurance Availability Act.
Section 2 would add a new income exclusion to the federal tax code. Eligibility would be determined separately for each disaster area: an insurer must be a non-life insurance company that provided property insurance there immediately before the incident date.
Part II of subchapter L of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: 836. Exclusion of certain income from providing real property insurance following certain federally declared disasters
the term specified insurance company means, with respect to any disaster area, any insurance company (other than a life insurance company) which, immediately prior to the incident date with respect to such disaster area, provided real property insurance with respect to property located in such disaster area.
The excluded income would be the amount by which premiums received for insuring property in the disaster area exceed deductions properly attributable to those premiums. The exclusion would therefore apply to this calculated income, rather than the full amount of premiums received.
the term qualified real property insurance income means, with respect to any specified insurance company for any taxable year, the excess of— (1) the premiums received by such insurance company for real property insurance with respect to property located in the disaster area, over (2) deductions properly allocable to such premiums.
Qualifying property insurance would include coverage for personal property, such as belongings, if that property is located on the insured real property and covered by the same policy.
the term real property insurance shall include the coverage of risks associated with personal property if such risks are covered under the same policy that covers risks associated with real property and such personal property is located on such real property.
For each disaster area, the exclusion would last for the first five tax years ending after the incident date. The incident date would be the earliest incident date specified in the disaster declaration. This measures eligibility by tax years ending after that date, rather than by five full years elapsed since the disaster.
the term recovery period means, with respect to any disaster area, the first 5 taxable years ending after the incident date with respect to such disaster area.
the term incident date means, with respect to any disaster area, the earliest incident date specified in the declaration with respect to such disaster area.
The proposal would use the existing definition of “disaster area” in tax-code section 7508A(d)(3), rather than supply a new definition.
the term disaster area has the meaning given such term in section 7508A(d)(3).
The amendments would apply to qualifying disaster areas whose incident date is after December 31, 2024.
The amendments made by this section shall apply to disaster areas the incident date (as defined in section 836(g) of the Internal Revenue Code of 1986, as added by this section) of which is after December 31, 2024.
The supplied official-actions snapshot, updated June 30, 2026, records introduction in the House and referral to the House Committee on Ways and Means on February 6, 2025.
Source snapshot updated 2026-06-30T14:16:17Z. 2025-02-06: Referred to the House Committee on Ways and Means. 2025-02-06: Introduced in House
A closer look
Reviewed version: Introduced in House · 2025-02-06. These findings describe provisions and who may benefit; they are not judgments of waste, corruption, or motive.
This review covers the supplied bill text. “None identified” does not rule out provisions in later versions or accompanying reports and disclosures.
Provisions outside the bill’s main subject, or policy changes attached to appropriations.
None identified in the reviewed text
No unrelated provision or policy change attached to appropriations was identified in the complete supplied introduced text. This conclusion is limited to that version and does not establish absence in other versions or accompanying materials.
Spending directed to particular recipients or places outside ordinary competitive or formula-based allocation.
None identified in the reviewed text
No congressionally directed spending for particular recipients or places was identified in the complete supplied introduced text. This conclusion is limited to that version; accompanying materials needed to assess formal earmark status are not supplied.
Narrow exceptions, exemptions, or preferential treatment that warrant a closer look.
Findings to examine
The proposal contains an eligibility restriction favoring insurers already serving an affected area. Identifying this targeted treatment is not a judgment about its justification.
The proposed tax exclusion would favor non-life insurers that already provided property insurance in the disaster area immediately before the incident date. An insurer entering that area only afterward would not meet this requirement. This is a narrow eligibility restriction within the bill's central tax-relief policy.
In the case of each taxable year in the recovery period, there shall be excluded from the gross income of each specified insurance company the qualified real property insurance income of such company for such taxable year with respect to any disaster area.
the term specified insurance company means, with respect to any disaster area, any insurance company (other than a life insurance company) which, immediately prior to the incident date with respect to such disaster area, provided real property insurance with respect to property located in such disaster area.
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