HEART Act of 2024
The HEART Act of 2024 (HR 8846) creates a tax exclusion for individuals receiving compensation from federally declared disasters caused by severe storms, straight-line winds, or tornadoes. It excludes from gross income any "qualified" relief payment received after December 31, 2023, for losses like property damage, additional living expenses, or lost wages not covered by insurance. The bill specifically prevents double tax benefits by disallowing deductions or basis increases for expenses already covered by this excluded payment. It directly affects individuals who received disaster relief payments for qualifying weather events after 2023.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jun 2024
Committee Review
Floor Vote
President
Introduced Jun 26, 2024
Last action Jun 26, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Jun 26, 2024
Committee
Referred to the House Committee on Ways and Means.
lower
Jun 26, 2024
Introduced
Introduced in House
lower
1 primary · 3 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Zachary Nunn
RRepublican
Co
Ashley Hinson
RRepublican
Co
Mariannette Miller-Meeks
RRepublican
Co
Randy Feenstra
RRepublican
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