Senate Bill 2544
116th Congress(2019-2020)
Hurricanes Florence and Michael and California Wildfire Tax Relief Act
Introduced
Introduced in Senate on Sep 25, 2019
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2544
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No Senate votes have been held for this bill.
Summary
Hurricanes Florence and Michael and California Wildfire Tax Relief Act
This bill provides for tax relief for individuals in areas affected by Hurricanes Florence and Michael and the California wildfires. Specifically, it
- allows tax-free distributions from tax-preferred pension plans for disaster-related expenses,
- increases the limit on allowable loans from pension plans,
- allows employers in disaster areas a tax credit to assist in retaining employees affected by disasters,
- suspends the limitation on the tax deduction for charitable contributions for disaster relief,
- allows nonitemizing taxpayers to claim personal casualty losses, and
- allows the use of earned income for the preceding year for claiming the earning income and child tax credits.
September 25, 2019
09/25/2019
Read twice and referred to the Committee on Finance.
09/25/2019
Introduced in Senate
Public Record
Record Updated
Nov 1, 2022 1:49:50 PM