HR1093Referred to Committee

Natural Disaster Property Protection Act of 2025

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-02-06
Introduced
1
Cosponsors
HR
ⓘ
Type

Sponsor

Brittany Pettersen
Brittany Pettersen
Democrat · CO · Representative
Votes with party: 96.6% (504 recorded votes)
Top industries funding sponsor:
  • Climate & Environment$5k

Full profile: /officials/P000620

Source: Congress.gov · FEC

Cosponsors (1)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

1 cosponsor on record at Congress.gov. The named list is syncing into Govwatch and will appear here shortly — view on Congress.gov in the meantime.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Referred to the House Committee on Ways and Means.

2025-02-06

Source: Congress.gov

Committee Activity

Currently in

Plain-English Summary

Natural Disaster Property Protection Act of 2025 This bill increases to $5,000 (from $600) the dollar threshold at which a person engaged in a trade or business is required to file an information return (for federal tax purposes) reporting certain payments related to a natural disaster or extreme weather. Under current law, a person engaged in a trade or business (including a corporation, company, partnership, association, individual, estate, and trust) is required to file an information return for certain payments made during the tax year to another person (but generally not to a corporation) if such payments total (in the aggregate) $600 or more (information reporting threshold). Such payments are reported on the IRS Form 1099 series. Specifically, payments made to nonemployees in exchange for services are reported on IRS Form 1099-NEC (nonemployee compensation). (Some exceptions apply.) Under the bill, the information reporting threshold increases to $5,000 for (1) expenses incurred to mitigate the risk of damage to real property that may result from a natural disaster or extreme weather, and (2) expenses incurred to repair damage to real property caused by a natural disaster or extreme weather.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Subjects

Taxation
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Related legislation

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