,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #ajgj  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,febru>y #f1 #bjbe,mr4
 ,higg9s ( ,l\isiana introduc$ ! foll[+ 
bill2 :i* 0 ref]r$ to ! ,committee on   
,ways & ,means  ,a ,,bill  ,to am5d !   
,int]nal ,rev5ue ,code ( #aihf to       
exclude f gross income c]ta9 income f   
provid+ real prop]ty insurance foll[+   
c]ta9 f$]ally decl>$ disa/]s4  #a4 ,%ort
 title ,?is ,act may be cit$ z ! ,re/or+
 ,competitive ,prop]ty ,insurance       
,availability ,act4  #b4 ,exclusion (   
c]ta9 income f provid+ real prop]ty     
insurance foll[+ c]ta9 f$]ally decl>$   
disa/]s  7a7 ,9 g5]al ,"p ,,ii (        
sub*apt] ,l ( *apt] #a ( ! ,int]nal     
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end ! foll[+ new section3  #hcf4   
,exclusion ( c]ta9 income f provid+ real
 prop]ty insurance foll[+ c]ta9 f$]ally 
decl>$ disa/]s  7a7 ,9 g5]al ,9 ! case (
 ea* taxable ye> 9 ! recov]y p]iod1 !re 
%all be exclud$ f ! gross income ( ea*  
specifi$ insurance company ! qualifi$   

real prop]ty insurance income ( su*     
company = su* taxable ye> ) respect to  
any disa/] area4  7b7 ,specifi$         
insurance company ,= purposes ( ?is     
section1 ! t]m specifi$ insurance       
company means1 ) respect to any disa/]  
area1 any insurance company 7o!r ?an a  
life insurance company7 :i*1 imm$iately 
prior to ! incid5t date ) respect to su*
 disa/] area1 provid$ real prop]ty      
insurance ) respect to prop]ty locat$ 9 
su* disa/] area4  7c7 ,qualifi$ real    
prop]ty insurance income ,= purposes (  
?is section1 ! t]m qualifi$ real prop]ty
 insurance income means1 ) respect to   
any specifi$ insurance company = any    
taxable ye>1 ! excess (-- 7#a7 !        
premiums receiv$ by su* insurance       
company = real prop]ty insurance )      
respect to prop]ty locat$ 9 ! disa/]    
area1 ov]  7#b7 d$uctions prop]ly       
allocable to su* premiums4  7d7 ,real   
prop]ty insurance ,= purposes ( ?is     
section1 ! t]m real prop]ty insurance   
%all include ! cov]age ( risks associat$

 ) p]sonal prop]ty if su* risks are     
cov]$ "u ! same policy t cov]s risks    
associat$ ) real prop]ty & su* p]sonal  
prop]ty is locat$ on su* real prop]ty4  
7e7 ,recov]y p]iod ,= purposes ( ?is    
section1 ! t]m recov]y p]iod means1 )   
respect to any disa/] area1 ! fir/ #e   
taxable ye>s end+ aft] ! incid5t date ) 
respect to su* disa/] area4  7f7 ,disa/]
 area ,= purposes ( ?is section1 ! t]m  
disa/] area has ! mean+ giv5 su* t]m 9  
section #gejh;,a7d77#c74  7g7 ,incid5t  
date ,= purposes ( ?is section1 ! t]m   
incid5t date means1 ) respect to any    
disa/] area1 ! e>lie/ incid5t date      
specifi$ 9 ! decl>ation ) respect to su*
 disa/] area4  4  7b7 ,cl]ical am5dm5t  
,! table ( sections = "p ,,ii ( sub*apt]
 ,l ( *apt] #a ( ! ,int]nal ,rev5ue     
,code ( #aihf is am5d$ by add+ at ! end 
! foll[+ new item3  ,sec4 #hcf4         
,exclusion ( c]ta9 income f provid+ real
 prop]ty insurance foll[+ c]ta9 f$]ally 
decl>$ disa/]s4  4  7c7 ,effective date 
,! am5dm5ts made by ?is section %all    

apply to disa/] areas ! incid5t date 7z 
def9$ 9 section #hcf7;g7 ( ! ,int]nal   
,rev5ue ,code ( #aihf1 z add$ by ?is    
section7 ( :i* is aft] ,decemb] #ca1    
#bjbd4