United States 119th Congress Status: In Committee Bipartisan · 22 D · 21 R · 1 I cosponsors

HR 3469 — Tax Relief for Victims of Crimes, Scams, and Disasters Act

Last action — Referred to the House Committee on Ways and Means.

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the House. Introduced May 15, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the House.

Prognosis

Advancing 42% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • In Committee

    Current position in the legislative process.

  • 44 sponsors

    1 primary, 43 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 3 parties (22 D · 21 R · 1 I) — cross-party backing.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

Sections of law this bill changes

1 section in 1 law

From the bill's own amending language, matched to the official United States Code (current through Public Law 119-121).

Normal taxes and surtaxes · 26 U.S.C. ch. 1 1 section
  • § 165 Losses Amends

    26 U.S.C. § 165 — at 165(h)

    The law today

    (a) General rule There shall be allowed as a deduction any loss sustained during the taxable year and not compensated for by insurance or otherwise. (b) Amount of deduction For purposes of subsection (a), the basis for determining the amount of the deduction for any loss shall be the adjusted basis provided in section 1011 for determining the loss from the sale or other disposition of property. (c) Limitation on losses of individuals In the case of an individual, the deduction under subsection (a) shall be limited to— (1) losses incurred in a trade or business; (2) losses incurred in any transaction entered into for profit, though not connected with a trade or business; and (3) except as provided in subsection (h), losses of property not connected with a trade or business or a transaction entered into for profit, if such losses arise from fire, storm, shipwreck, or other casualty, or from theft. (d) Wagering losses (1) In general For purposes of losses from wagering transactions, the amount allowed as a deduction for any taxable year— (A) shall be equal to 90 percent of the amount of such losses during such taxable year, and (B) shall be allowed only to the extent of the gains from such transactions during such taxable year. (2) Special rule For purposes of paragraph (1), the term “losses from wagering transactions” includes any deduction otherwise allowable under this chapter incurred in carrying on any wagering transaction. (e) Theft losses For purposes of subsection (a), any loss arising from theft shall be treated as sustained during the taxable year in which the taxpayer discovers such loss. (f) Capital losses Losses from sales or exchanges of capital assets shall be allowed only to the extent allowed in sections 1211 and 1212. (g) Worthless securities (1) General rule If any security which is a capital asset becomes worthless during the taxable year, the loss resulting therefrom shall, for purposes of this subtitle, be treated as a loss from the sale or exchange, on the last day of the taxable year, of a capital asset. (2) Security defined For purposes of this subsection, the term “security” means— (A) a share of stock in a corporation; (B) a right to subscribe for, or to receive, a share of stock in a corporation; or (C) a bond, debenture, note, or certificate, or other evidence of indebtedness, issued by a corporation or by a government or political subdivision thereof, with interest coupons or in registered form. (3) Securities in affiliated corporation For purposes of paragraph (1), any security in a corporation affiliated with a taxpayer which is a domestic corporation shall not be treated as a capital asset. For purposes of the preceding sentence, a corporation shall be treated as affiliated with the taxpayer only if— (A) the taxpayer owns directly stock in such corporation meeting the requirements of section 1504(a)(2), and (B) more than 90 percent of the aggregate of its gross receipts for all taxable years has been from sources other than royalties, rents (except rents derived from rental of properties to employees of the corporation in the ordinary course of its operating business), dividends, interest (except interest received on deferred purchase price of operating assets sold), annuities, and gains from sales or exchanges of stocks and securities. In computing gross receipts for purposes of the preceding sentence, gross receipts from sales or exchanges of stocks and securities shall be taken into account only to the extent of gains therefrom. (h) Treatment of casualty gains and losses (1) Dollar limitation per casualty Any loss of an individual described in subsection (c)(3) shall be allowed only to the extent that the amount of the loss to such individual arising from each casualty, or from each theft, exceeds $100 ($500 in the case of any qualified disaster-related personal casualty losses (as defined in paragraph (6)(C)) 1. (2) Net casualty loss allowed only to the extent it exceeds 10 percent of adjus...

    38 other bills also change this section · Follow it → Official text at uscode.house.gov ↗

Also cites: 26 U.S.C. § 6511

How this bill changes current law

3 changes Share ↗

AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill reinstates the deduction for personal casualty losses by removing the suspension enacted by Public Law 115-97.

  • Section 165(h)

    paragraph (5)

    This removes the limitation on the deduction for personal casualty losses that was established in Public Law 115-97.

  • Section 6511(a)

    the period of limitation prescribed by section 6511(a) of such Code on filing a claim for credit or refund for any such taxable year shall be extended until the date prescribed by law (including extensions) for filing the return of tax for the taxable year that includes the date of the enactment of this Act

    This extends the time allowed for taxpayers to claim a refund related to personal casualty loss deductions.

  • Section 6511(b)(2)

    section 6511(b)(2) of such Code shall not apply to any claim of credit or refund with respect to such return

    This change means that the usual limitations on claiming refunds will not apply for taxpayers seeking deductions related to personal casualty losses.

Action History

  1. Introduced in House

  2. Introduced in House

  3. Referred to the House Committee on Ways and Means.

Sponsors

Sponsorship breakdown

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1 sponsors · 43 co-sponsors · 503 not signed on

Sponsors (1)

Co-sponsors (43)

Not signed on (503)

503 members have not signed on to this bill.

Show all 503 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

public-safety taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors HR 3469?
HR 3469 is sponsored by Panetta, Jimmy (Democratic), Diaz-Balart, Mario (Republican), Ezell, Mike (Republican), Raskin, Jamie (Democratic), McGovern, James P. (Democratic), Lee, Laurel M. (Republican), Pettersen, Brittany (Democratic), Kiley, Kevin (Independent), Beatty, Joyce (Democratic), Nunn, Zachary (Republican), Balint, Becca (Democratic), Gill, Brandon (Republican), McClain Delaney, April (Democratic), Shreve, Jefferson (Republican), Titus, Dina (Democratic), Houchin, Erin (Republican), Trahan, Lori (Democratic), Weber, Randy K. Sr. (Republican), Amo, Gabe (Democratic), Lawler, Michael (Republican), Vindman, Eugene Simon (Democratic), Salazar, Maria Elvira (Republican), McBride, Sarah (Democratic), Wied, Tony (Republican), Min, Dave (Democratic), Fine, Randy (Republican), Riley, Josh (Democratic), Mace, Nancy (Republican), McDonald Rivet, Kristen (Democratic), McDowell, Addison P. (Republican), Ross, Deborah K. (Democratic), Smith, Adam (Democratic), Van Drew, Jefferson (Republican), Vargas, Juan (Democratic), Kiggans, Jennifer A. (Republican), Westerman, Bruce (Republican), Subramanyam, Suhas (Democratic), Kim, Young (Republican), Whitesides, George (Democratic), Pappas, Chris (Democratic), Moore, Blake D. (Republican), Smith, Christopher H. (Republican), Vasquez, Gabe (Democratic), and Steube, W. Gregory (Republican).
What is the current status of HR 3469?
This bill is in committee in the House. Introduced May 15, 2025. It must pass committee before a floor vote.
Where can I track HR 3469?
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