H.R. 2230 · 114th Congress
Disaster Savings Accounts Act of 2015
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
RossSponsor3 cosponsors · 3 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to: (1) establish tax-exempt disaster savings accounts to pay the expenses of homeowners for disaster mitigation and recovery expenses, (2) allow a deduction from gross income (above-the-line deduction) up to $5,000 (adjusted annually for inflation) in a taxable year for cash contributions to such accounts, (3) exclude from…
What it does: CRS summary · Introduced in House · May 1, 2015
Disaster Savings Accounts Act of 2015
Amends the Internal Revenue Code to: (1) establish tax-exempt disaster savings accounts to pay the expenses of homeowners for disaster mitigation and recovery expenses, (2) allow a deduction from gross income (above-the-line deduction) up to $5,000 (adjusted annually for inflation) in a taxable year for cash contributions to such accounts, (3) exclude from gross income distributions from such accounts to pay disaster mitigation and recovery expenses; and (4) set forth tax rules and penalties for excess contributions to disaster savings accounts and for failure to file required reports on such accounts.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Disaster Savings Accounts Act of 2015
Latest action (May 1, 2015): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: May 1, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.