US House passes bill to make disaster mitigation grants tax-free
Tuesday, March 15th 2005, 6:02 am
By: News On 6
WASHINGTON (AP) -- Those receiving federal disaster relief -- including Oklahomans -- will apparently soon receive a tax break.
The US House Monday passed a bill that removes taxes on so-called hazard mitigation grants.
Lawmakers acted after the Internal Revenue Service ruled last year that such grants were taxable under the current law.
Some of the grants were used by people in Oklahoma to build tornado shelters.
Congressman Mark Foley, who represents hard-hit Florida, said the last thing people need to deal with is a tax for accepting grants from the federal government.
The Senate is expected to give quick approval to a similar version in time for the April 15th tax filing deadline.