Tax Break for Disaster Insurance Companies

National STEM Week Act This bill requires the National Science and Technology Council's Committee on STEM to designate a week each calendar year as National STEM Week. (STEM refers to science, technology, engineering, and mathematics.) During this established week, the committee must encourage educational institutions (i. e., elementary schools, secondary schools, and institutions of higher education) to participate in the week and also encourage families of students attending these educational institutions to participate in STEM activities. Additionally, the committee must encourage STEM industries to (1) engage with students enrolled in educational institutions by providing mentorship programs, site visits, and guest lectures; and (2) support STEM education initiatives at these educational institutions through funding, resources, and expertise. The committee must annually report to Congress on the activities conducted during the established week.

1. This bill allows certain insurance companies to exclude specific income from taxes after disasters. 2. The income excluded comes from premiums received for real property insurance in disaster areas. 3. The bill applies for five years following a federally declared disaster. 4. It targets insurance companies that provided coverage before the disaster occurred. 5. The goal is to help insurance companies remain financially stable after disasters.