Senate Committee Hold Hearing On Bill To Exclude Disaster Settlement Payments From Income Tax

A bill introduced by State Senator Brian Dahle to help disaster victims is gaining support in the legislature. SB-927 would exclude settlement payments made as a result of any declared state of emergency from being counted as taxable income. Last year Dahle authored a bill that excluded income taxes for those who received settlements from PG&E for the Zogg Fire. It passed unanimously, and recent bills have done the same for survivors of the Camp Fire and other disasters. The new bill would make the statute apply to any disaster, rather than having to go about the process one disaster at a time. The bill had a hearing Wednesday in the Senate Committee on Revenue and Taxation.

-Steve Gibson