Homeowners Premium Tax Reduction Act of 2026
The source supplies the latest action, but no lifecycle stage.
Latest action (30 Jul 2026): Referred to the House Committee on Ways and Means.
What this bill does
H.R. 9978, the Homeowners Premium Tax Reduction Act of 2026, would amend the Internal Revenue Code to create a new federal income tax deduction for homeowners insurance premiums. Individuals could deduct up to $10,000 per year in premiums paid for insurance on their principal residence. This would be an "above the line" deduction, meaning it could be claimed in calculating adjusted gross income and would not require itemizing other deductions.
The bill would primarily affect individual homeowners who pay homeowners insurance premiums on the home they use as their main residence, as defined under existing tax law (section 121). It would not apply to insurance on second homes, rental properties, or other non-principal residences. The change would reduce federal taxable income for eligible homeowners, though the bill does not specify its overall revenue impact.
If enacted, the deduction would apply to tax years ending after the law's enactment date. The bill was introduced on July 30, 2026, by Rep. Gus Bilirakis and referred to the House Committee on Ways and Means. As of the latest action, it has not been voted on by the committee or the full House, and would need to pass both chambers of Congress and be signed by the President before taking effect.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
Homeowners Premium Tax Reduction Act of 2026
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.
Timeline
30 Jul 2026
Referred to the House Committee on Ways and Means.
Common questions
- What does H.R. 9978 do?
- H.R. 9978, the Homeowners Premium Tax Reduction Act of 2026, would amend the Internal Revenue Code to create a new federal income tax deduction for homeowners insurance premiums. Individuals could deduct up to $10,000 per year in premiums paid for insurance on their principal residence. This would be an "above the line" deduction, meaning it could be claimed in calculating adjusted gross income and would not require itemizing other deductions. The bill would primarily affect individual homeowners who pay homeowners insurance premiums on the home they use as their main residence, as defined under existing tax law (section 121). It would not apply to insurance on second homes, rental properties, or other non-principal residences. The change would reduce federal taxable income for eligible homeowners, though the bill does not specify its overall revenue impact. If enacted, the deduction would apply to tax years ending after the law's enactment date. The bill was introduced on July 30, 2026, by Rep. Gus Bilirakis and referred to the House Committee on Ways and Means. As of the latest action, it has not been voted on by the committee or the full House, and would need to pass both chambers of Congress and be signed by the President before taking effect.
- Has H.R. 9978 become law?
- The source does not supply a confirmed lifecycle stage for H.R. 9978. Check the latest action and official source below.
- Who sponsored H.R. 9978?
- H.R. 9978 was sponsored by Rep. Bilirakis, Gus M. [R-FL-12] (R-FL), with 0 cosponsors.
- What's the latest action on H.R. 9978?
- Referred to the House Committee on Ways and Means. (30 Jul 2026).
Related bills in Taxation
National Taxpayer Advocate Enhancement Act of 2025
End Tax Penalties on American Hostages Act
School Freedom Act of 2026
RELA Act of 2026
More bills from Rep. Bilirakis, Gus M. [R-FL-12]
Beagle Liberation Act of 2026
Priority for Pediatric Cures Act
Part D Premium Protection Act of 2026
To obtain and direct the placement in the Capitol or on the Capitol Grounds of a statue to honor American humanitarian and star athlete Roberto Clemente of Puerto Rico.
Bill100 mirrors the public U.S. legislative record from Congress.gov and GovTrack and adds plain-English AI summaries. It is an information tool, not legal, compliance or lobbying advice, and it is not affiliated with the U.S. Congress or any government agency. AI summaries can simplify or omit detail — every bill links to the official source; verify there before you rely on it.