H.R. 10498 — Illegal War Refund Act

This section provides annual payments to U.S. taxpayers who filed returns for the prior year (excluding nonresident aliens) and their dependents, in equal amounts, equal to the total economic costs to taxpayers from the Iran war in the preceding fiscal year, including effects from higher interest rates, fuel prices, food prices, and inflation. It requires the Office of Management and Budget Director to calculate those costs by October 15 each year beginning in fiscal year 2027 and directs a prorated transfer of an equivalent amount from unobligated Department of Defense funds (excluding military personnel, construction, and health accounts) to the Treasury for distribution by October 30.