H.R. 6683 · 112th Congress
Hurricane Sandy Tax Relief Act of 2012
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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PascrellSponsor26 cosponsors · 17 D, 9 R
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Ackerman
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Andrews
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Crowley
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Courtney
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DeLauro
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Engel
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Frelinghuysen
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Garrett
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Grimm
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Holt
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Higgins
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Israel
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Lowey
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LoBiondo
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Larson
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Langevin
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Lance
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Pallone
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Payne
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Rangel
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Runyan
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Smith
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Sires
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Towns
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Turner26 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Hurricane Sandy Tax Relief Act of 2012 - Amends the Internal Revenue Code to provide tax benefits for individuals and businesses affected by Hurricane Sandy, including:
What it does: CRS summary · Introduced in House · Dec 19, 2012
Hurricane Sandy Tax Relief Act of 2012 - Amends the Internal Revenue Code to provide tax benefits for individuals and businesses affected by Hurricane Sandy, including:
- an exemption from the gross income limitation for deducting casualty losses attributable to Hurricane Sandy;
- expensing allowances for Hurricane Sandy disaster expenses, disaster assistance property, and environmental remediation expenses;
- treatment of losses attributable to Hurricane Sandy as net operating losses;
- suspension of mortgage revenue bond requirements for residences located in the Hurricane Sandy disaster area;
- an increased charitable tax deduction for Hurricane Sandy disaster relief contributions;
- a special allocation of the new markets tax credit for investments in community development entities serving the disaster area;
- special adjustments to the earned income tax credit and the child tax credit for individuals living in the disaster area;
- a work opportunity tax credit for hiring employees residing in the disaster area;
- authorization for issuance of Hurricane Sandy bonds to finance disaster relief projects; and
- an additional allocation of low-income housing credits in states affected by Hurricane Sandy.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Hurricane Sandy Tax Relief Act of 2012
Latest action (Dec 19, 2012): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Dec 19, 2012
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.