,,ii  #aahth ,,congress  #b;d ,session  
,s4 #dadc  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,april #ag1    
#bjbd,mr4 ,scott of ,florida introduced 
the following bill2 which was read twice
 and referred to the ,committee on      
,finance  ,a ,,bill  ,to amend the      
,internal ,revenue ,code of #aihf to    
provide an above-the-line deduction for 
flood insurance premiums4  #a4 ,short   
title ,this ,act may be cited as the    
,flood ,insurance ,relief ,act4  #b4    
,deduction for flood insurance premiums 
7a7 ,allowance of deduction  7#a7 ,in   
general ,part ,,vii of subchapter ,b of 
chapter #a of the ,internal ,revenue    
,code of #aihf is amended by            
redesignating section #bbd as section   
#bbe and inserting after section #bbc   
the following new section3  #bbd4 ,flood
 insurance premiums  7a7 ,deduction     
allowed ,in the case of an individual1  
there shall be allowed as a deduction   
qualified flood insurance premiums paid 
or incurred during the taxable year with

 respect to property owned by the       
taxpayer4  7b7 ,limitation  7#a7 ,in    
general ,subsection 7a7 shall not apply 
with respect to any taxpayer whose      
adjusted gross income for the taxable   
year exceeds #bjj1jjj 7#djj1jjj in the  
case of a joint return74  7#b7          
,application ,for purposes of paragraph 
7#a71 the adjusted gross income of the  
taxpayer shall be determined-- 7,a7     
after application of sections #hf1 #ace1
 #acg1 #bai1 #bba1 and #dfi1 and  7,b7  
without regard to this section4  7c7    
,qualified flood insurance premiums ,for
 purposes of this section1 the term     
qualified flood insurance premiums      
means-- 7#a7 any chargeable risk premium
 rate for flood insurance under the     
program established under the ,national 
,flood ,insurance ,act of #aifh 7#db    
,u4,s4,c4 #djja et seq47 or the payment 
of any premium under private flood      
insurance1 as defined in section        
#ajb7;b7 of the ,flood ,disaster        
,protection ,act of #aigc 7#db ,u4,s4,c4

 #djab;a7b771  7#b7 any ,federal ,policy
 ,fee1 as defined in ,appendix ,a7#a7 to
 part #fa of title #dd1 ,code of        
,federal ,regulations1 or any successor 
regulation1  7#c7 any surcharge         
described in the flush text following   
subparagraph 7,d7 of section            
#acjd7;b77#d7 of the ,national ,flood   
,insurance ,act of #aifh 7#db ,u4,s4,c4 
#djaa7;b77#d771 and  7#d7 any premium   
surcharge under section #acjh;,a of the 
,national ,flood ,insurance ,act of     
#aifh 7#db ,u4,s4,c4 #djae;a74  4  7#b7 
,clerical amendment ,the table of       
sections for part ,,vii of subchapter ,b
 of chapter #a of such ,code is amended 
by redesignating the item relating to   
section #bbd as relating to section #bbe
 and by inserting after the item        
relating to section #bbc the following  
new item3  ,sec4 #bbd4 ,flood insurance 
premiums4  4  7b7 ,deduction allowed in 
determining adjusted gross income       
,section #fb7;a7 of the ,internal       
,revenue ,code of #aihf is amended by   

inserting after paragraph 7#ba7 the     
following new paragraph3  7#bb7 ,flood  
insurance premiums ,the deduction       
allowed by section #bbd4  4  7c7        
,conforming amendments  7#a7 ,section   
#gd7;d77#b77;,b7 of the ,internal       
,revenue ,code of #aihf is amended by   
inserting #bbd after #bba4  7#b7        
,section #hf7;b77#b77;,a7 of such ,code 
is amended by inserting #bbd1 after     
#bba14  7#c7 ,section #ace7;c77#d77;,a7 
of such ,code is amended by inserting   
#bbd1 after #bba14  7#d7 ,section       
#acg7;b77#c77;,a7 of such ,code is      
amended by inserting #bbd after #bba14  
7#e7 ,section #bai7;g77#c77;,a77ii7 of  
such ,code is amended by inserting #bbd1
 after #bba14  7#f7 ,section            
#bba7;b77#b77;,c77i7 of such ,code is   
amended by inserting #bbd1 after #bai14 
7#g7 ,section #dfi7;i77#c77;,e77ii7 of  
such ,code is amended by inserting #bbd1
 after #bba14  7d7 ,effective date ,the 
amendments made by this section shall   
apply to taxable years beginning after  

the date of the enactment of this ,act4