H.R. 2935 · 110th Congress
Kansas Disaster Tax Relief Assistance Act
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
MoranSponsor3 cosponsors · 2 D, 1 R
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Kansas Disaster Tax Relief Assistance Act - Extends to businesses and individuals in certain Kansas counties declared by the President as major disaster areas under the Robert T.
What it does: CRS summary · Introduced in House · Jun 28, 2007
Kansas Disaster Tax Relief Assistance Act - Extends to businesses and individuals in certain Kansas counties declared by the President as major disaster areas under the Robert T. Stafford Disaster Relief and Emergency Assistance Act (FEMA-1699-DR, as in effect on the date of enactment of this Act) by reason of severe storms and tornados beginning on May 4, 2007, provisions of the Internal Revenue Code allowing: (1) suspension of certain limitations on personal casualty losses; (2) an extension of the period for replacing damaged property without recognizing gain; (3) an employee retention tax credit for affected businesses through 2007; (4) 50% bonus depreciation for affected businesses; (5) increased expensing of small business assets; (6) increased expensing of demolition and cleanup costs; (7) extended net operating loss carryback periods for losses attributable to storms and tornadoes and for public utility property disaster losses; (8) relaxed income verification requirements for tenants in low-income rental projects; and (9) penalty-free withdrawals and loans from individual retirement accounts and other tax-exempt pension plans.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Kansas Disaster Tax Relief Assistance Act
Latest action (Jun 28, 2007): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jun 28, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.