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119-hr-1179119th CongressWALLET

Chiquita Canyon Tax Relief Act

Sponsored By: Representative Whitesides, George [D-CA-27]

Introduced

Summary

Treats payments tied to the Chiquita Canyon landfill elevated-temperature event as tax-free disaster relief. This bill would designate amounts received on or after March 1, 2024 as qualified disaster relief payments under Internal Revenue Code section 139(b), excluding them from taxable gross income. It covers payments to individuals for loss, damages, expenses, relocation, suffering, loss in real property value, closing costs, or inconvenience from the elevated-temperature event beneath the Chiquita Canyon Landfill beginning May 1, 2022. Covered payers include federal, state, and local agencies, Waste Connections, Inc., and its subsidiaries, insurers, agents, or related persons.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Lower taxes on Chiquita Canyon payments

If enacted, certain payments tied to the Chiquita Canyon landfill event would not be taxed by the IRS. You would be able to exclude money for losses, moving costs, lost home value, real estate closing costs (like realtor fees), suffering, or access problems. Covered payers would include federal, state, or local agencies, and Waste Connections, Inc., plus its subsidiaries, insurers, agents, or related persons. The event began May 1, 2022, but the tax exclusion would only apply to amounts you receive on or after March 1, 2024. If you get a covered payment, you would not include it in your federal income.

Sponsors & CoSponsors

Sponsor

Whitesides, George [D-CA-27]

CA • D

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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