To exclude from gross income certain emergency assistance provided to farmers.

Section 139 of the Internal Revenue Code of 1986 is amended by inserting after subsection (h) the following new subsection:

For purposes of this section, the term qualified disaster relief payment shall include any assistance received under any of the following:

(1) Assistance received under the Wildfires and Hurricanes Indemnity Program Plus under subpart O of part 760 of title 7, Code of Federal Regulations.

(2) Assistance received under section 1501 of the Agricultural Act of 2014 (7 U.S.C. 9081).

(3) Noninsured crop assistance under section 196 of the Federal Agriculture Improvement and Reform Act of 1996 (7 U.S.C. 7333).

(4) Assistance under title IV of the Agricultural Credit Act of 1978 (16 U.S.C. 2201 et seq.).

The amendments made by this section shall apply to taxable years beginning after December 31, 2023.