Flood Insurance Affordability Tax Credit Act

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 5466 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 5466 To amend the Internal Revenue Code of 1986 to provide an advance refundable credit to offset certain flood insurance premiums, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES December 10, 2024 Mr. Cassidy (for himself and Mr. Booker) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to provide an advance refundable credit to offset certain flood insurance premiums, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Flood Insurance Affordability Tax Credit Act''. SEC. 2. REFUNDABLE CREDIT FOR CERTAIN FLOOD INSURANCE COVERAGE. (a) In General.--Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by…