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S. 35

U.S. Senate•In Senate Committee

Summary

S. 35, the Homeowners Premium Tax Reduction Act of 2025, was introduced in the Senate on Jan 8, 2025 by Sen. Rick Scott (R). It was referred to Finance, and last saw action on Jan 8, 2025: Read twice and referred to the Committee on Finance.

Record

Text

S. 35 has no co-sponsors and has not gone to a roll call.

sb35/introduced-in-senate.txt
119 S35 IS: Homeowners Premium Tax Reduction Act of 2025
 U.S. Senate
 2025-01-08
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 II  119th CONGRESS  1st Session  S. 35  IN THE SENATE OF THE UNITED STATES   January 8, 2025   Mr. Scott of Florida  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 create an above the line deduction for certain homeowners insurance premiums.
1.
Short title
This Act may be cited as the   Homeowners Premium Tax Reduction Act of 2025  .
2.
Deduction for homeowners insurance premiums
(a)
In general
Part VII of subchapter B of  chapter 1  of the Internal Revenue Code of 1986 is amended by redesignating section 224 as section 225 and by inserting after section 223 the following new section:
224.
Homeowners insurance premiums
(a)
Allowance of deduction
In the case of an individual, there shall be allowed as a deduction an amount equal to so much of the qualified insurance premiums paid or incurred during the taxable year as does not exceed $10,000.
(b)
Qualified insurance premiums
For purposes of this section, with respect to an individual, the term  qualified insurance premiums  means annual policy premiums paid or incurred for homeowners insurance with respect to the principal residence of the individual.
(c)
Principal residence
For purposes of this section, the term  principal residence  has the same meaning as when used in section 121.
 .
(b)
Deduction allowed in determining adjusted gross income
 Section 62(a)  of the Internal Revenue Code of 1986 is amended by inserting after paragraph (21) the following new paragraph:
(22)
Homeowners insurance premiums
The deduction allowed by section 224.
 .
(c)
Clerical amendment
The table of sections for part VII of subchapter B of  chapter 1  of the Internal Revenue Code of 1986 is amended by striking the item relating to  section 224  and by inserting after the item relating to section 223 the following new items:
Sec. 224. Homeowners insurance premiums.
Sec. 225. Cross reference.
  .
(d)
Effective date
The amendments made by this section shall apply to taxable years ending after the date of the enactment of this Act.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2025-01-08
  2. Passed Senate
  3. Passed House
  4. Conference
  5. To President
  6. Became Law

CRS Summary

The summaries are the Congressional Research Service’s, one per stage. Read them in full.

Introduced in Senate Jan 8, 2025

sb35/introduced-in-senate.md

Shown Here:
Introduced in Senate (01/08/2025)

Homeowners Premium Tax Reduction Act of 2025

This bill establishes a new deduction of up to $10,000 claimed against gross income (above-the-line tax deduction) for annual policy premiums paid or incurred for homeowners insurance on an individual's principal residence.

Sponsors

Sen. Rick Scott (R) sponsors S. 35 alone.

Rick Scott

Sen. · R–FL · Sponsor

Committees

S. 35 went before 1 committee: Finance.

Finance
Finance
Referred To · Jan 8, 2025 · 902 Bills

Actions

S. 35 has taken 2 actions since Jan 8, 2025.

ChamberAction
Jan 8, 2025
Senate
Read twice and referred to the Committee on Finance.Finance Committee
Jan 8, 2025
—
Introduced in Senate

Votes

S. 35 has not gone to a roll call.

1 bill is related to S. 35.

Titles

S. 35 goes by 3 titles, 1 of them short titles.

  • Homeowners Premium Tax Reduction Act of 2025 — Display Title
  • Homeowners Premium Tax Reduction Act of 2025 — Short Title(s) as Introduced
  • A bill to amend the Internal Revenue Code of 1986 to create an above the line deduction for certain homeowners insurance premiums. — Official Title as Introduced

Lobbying

3 clients hired 3 firms and 19 registered lobbyists who named S. 35 in 20 quarterly filings, 2025 to 2026. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Financial Institutions/Investments/Securities, Insurance, Taxation/Internal Revenue Code, Torts, Budget/Appropriations, Housing, Automotive Industry, Disaster Planning/Emergencies.

Clients

Who paid to be heard, by how many filings named the bill.

ClientBusinessStateFirmsFilingsReported
AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION—District of Columbia17—
REINSURANCE ASSN OF AMERICA—District of Columbia17—
NATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIES—District of Columbia16—

Firms

Registrants who filed on the bill, by filings.

RegistrantClientsFilingsReported
AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION FKA PROPERTY CASUALTY INSURERS ASSOC. OF AMERICA17—
REINSURANCE ASSN OF AMERICA17—
NATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIES16—

Lobbyists

Named on the filings that cite the bill.

LobbyistFirmsClientsFilings
BRETT HEWITT117
DAVID PEARCE117
DONALD GRIFFIN117
MONA DOOLEY117
NICOLE AUSTIN117
ROBERT GORDON117
STEF ZIELEZIENSKI117
THERESA PETTIGREW117
JAMES GRANDE116
KATHERINE DUVENECK116
NICHOLAS BOUKNIGHT116
ROBERT MCCARTY116
SAM WHITFIELD116
ANTHONY COTTO115
KATE CAREY113
CORY MAKS112
WARREN WILLIAMSON112
WILLIAM SEABROOK112
ANNA BUHLINGER111

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

ClientRegistrantPeriodReportedDocument
AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATIONAMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION FKA PROPERTY CASUALTY INSURERS ASSOC. OF AMERICA2026 second_quarter$2.1M2nd Quarter - Report
AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATIONAMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION FKA PROPERTY CASUALTY INSURERS ASSOC. OF AMERICA2025 second_quarter$1.7M2nd Quarter - Report
AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATIONAMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION FKA PROPERTY CASUALTY INSURERS ASSOC. OF AMERICA2026 first_quarter$1.4M1st Quarter - Report
AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATIONAMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION FKA PROPERTY CASUALTY INSURERS ASSOC. OF AMERICA2025 third_quarter$1.4M3rd Quarter - Amendme…
AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATIONAMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION FKA PROPERTY CASUALTY INSURERS ASSOC. OF AMERICA2025 third_quarter$1.4M3rd Quarter - Report
AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATIONAMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION FKA PROPERTY CASUALTY INSURERS ASSOC. OF AMERICA2025 fourth_quarter$1.4M4th Quarter - Report
AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATIONAMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION FKA PROPERTY CASUALTY INSURERS ASSOC. OF AMERICA2025 first_quarter$1.3M1st Quarter - Report
NATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIESNATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIES2026 second_quarter$540K2nd Quarter - Report
REINSURANCE ASSN OF AMERICAREINSURANCE ASSN OF AMERICA2026 first_quarter$520K1st Quarter - Report
NATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIESNATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIES2026 first_quarter$506.4K1st Quarter - Report
NATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIESNATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIES2025 fourth_quarter$465.8K4th Quarter - Report
NATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIESNATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIES2025 third_quarter$442.1K3rd Quarter - Report
REINSURANCE ASSN OF AMERICAREINSURANCE ASSN OF AMERICA2025 third_quarter$440K3rd Quarter - Report
REINSURANCE ASSN OF AMERICAREINSURANCE ASSN OF AMERICA2025 second_quarter$440K2nd Quarter - Report
NATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIESNATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIES2025 second_quarter$435.7K2nd Quarter - Report
NATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIESNATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIES2025 first_quarter$424.5K1st Quarter - Report
REINSURANCE ASSN OF AMERICAREINSURANCE ASSN OF AMERICA2025 fourth_quarter$390K4th Quarter - Report
REINSURANCE ASSN OF AMERICAREINSURANCE ASSN OF AMERICA2026 second_quarter$370K2nd Quarter - Amendme…
REINSURANCE ASSN OF AMERICAREINSURANCE ASSN OF AMERICA2025 first_quarter$370K1st Quarter - Report
REINSURANCE ASSN OF AMERICAREINSURANCE ASSN OF AMERICA2026 second_quarter$340K2nd Quarter - Report

Classification

The Congressional Research Service files S. 35 under Taxation, one of its 31 policy areas, and gives it 2 legislative subjects.

CRS Subjects

CRS assigns every bill one policy area from its 31; S. 35’s is Taxation.

s35/policy-areas.txt
TaxationAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesFinance and Financial SectorForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTransportation and Public WorksWater Resources Development

Legislative Subjects

S. 35 carries 2 of CRS’s legislative subjects, from Income tax deductions to Life, casualty, property insurance.

s35/subjects.txt
Income tax deductionsLife, casualty, property insurance

Source: congress.gov · legiscan.com