This bill proposes amendments to the Internal Revenue Code of 1986, creating a new section to exclude specific income from gross income for certain insurance companies. The primary purpose is to provide a tax incentive for insurers operating in regions affected by federally declared disasters. This measure aims to support the availability of property insurance in vulnerable areas by allowing companies to exclude "qualified real property insurance income." Under this legislation, a specified insurance company , defined as a non-life insurance company that provided real property insurance in a disaster area before the incident, can exclude this income. The exclusion applies for a recovery period of five taxable years following the incident date of a federally declared disaster. Qualified real property insurance income is calculated as the premiums received for real property insurance in the disaster area, minus any deductions properly allocable to those premiums. The term real property insurance is broadly defined to include coverage for personal property if it is part of the same policy covering real property and located on that property. This tax exclusion is intended to apply to disaster areas with an incident date occurring after December 31, 2024. The bill seeks to encourage insurers to maintain or expand coverage in areas prone to natural disasters.