The bill aims to amend the Internal Revenue Code of 1986 by introducing a deduction for attorney fees related to specific wildfire damages. It also seeks to exclude settlement funds received for such damages from being included in gross income. This change would provide taxpayers with relief by allowing them to deduct attorney fees and exclude settlement funds related to wildfire damages, potentially easing financial burdens caused by these disasters.
2023-01-09: Introduced in House
2023-01-09: Referred to the House Committee on Ways and Means.
2023-01-10: Sponsor introductory remarks on measure. (CR H120)
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