House Bill 1450
117th Congress(2021-2022)
Small Business Emergency Savings Accounts Act of 2021
Introduced
Introduced in House on Mar 1, 2021
Origin Chamber
House
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
1450
Congress
117
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 House votes have been held for this bill.
Summary
Small Business Emergency Savings Accounts Act of 2021
This bill allows a new tax deduction from gross income for amounts paid into a small business emergency savings account. Such savings accounts are established exclusively to pay the qualified disaster and public health emergency expenses of the account beneficiary.
The bill defines qualified disaster and public health emergency expenses as disaster loss replacement expenses, disaster recovery operations expenses, and public health emergency expenses.
March 1, 2021
03/01/2021
Referred to the House Committee on Ways and Means.
03/01/2021
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:46:27 PM