S.35

Homeowners Premium Tax Reduction Act of 2025 allows a deduction for homeowners insurance premiums.

The Homeowners Premium Tax Reduction Act of 2025 amends the Internal Revenue Code to create an above the line deduction for certain homeowners insurance premiums. This deduction allows individuals to deduct up to $10,000 of qualified insurance premiums paid or incurred during the taxable year. Qualified insurance premiums are defined as annual policy premiums for homeowners insurance related to the principal residence of the individual. The amendments apply to taxable years ending after the date of enactment of this Act.