US HB3989 | 2013-2014 | 113th Congress

Status

Spectrum: Strong Partisan Bill (Republican 10-1)
Status: Introduced on February 4 2014 - 25% progression, died in committee
Action: 2014-02-04 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Disaster Savings Accounts Act of 2013 - 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.

Tracking Information

Register now for our free OneVote public service or GAITS Pro trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

Title

Disaster Savings Accounts Act of 2013

Sponsors


History

DateChamberAction
2014-02-04HouseReferred to the House Committee on Ways and Means.

Same As/Similar To

HB3298 (Related) 2013-10-16 - Referred to the House Committee on Ways and Means.
SB1991 (Related) 2014-02-04 - Read twice and referred to the Committee on Finance.

Subjects


US Congress State Sources


Bill Comments

feedback