H.R. 5873 · 118th Congress
Natural Disaster Tax Relief Act of 2023
Key: what the circles and colors mean
Each circle is a bill. The ring fills as it moves through Congress:
Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.
Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.
Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
TokudaSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill sets forth tax relief provisions for individual taxpayers for losses resulting from a major disaster occurring in 2023.
What it does: CRS summary · Introduced in House · Oct 2, 2023
Natural Disaster Tax Relief Act of 2023
This bill sets forth tax relief provisions for individual taxpayers for losses resulting from a major disaster occurring in 2023.
Specifically, the bill
- allows penalty-free disaster-relief withdrawals from tax-exempt retirement plans up to $100,000,
- permits recontributions of such withdrawals for home purchases or construction cancelled due to the disaster,
- increases to $100,000 the limit on loans for disaster assistance from retirement plans, and
- enhances the tax deduction for disaster-related personal casualty losses.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Natural Disaster Tax Relief Act of 2023
Latest action (Oct 2, 2023): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Oct 2, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.