US HB2230 | 2015-2016 | 114th Congress

Status

Spectrum: Partisan Bill (Republican 4-0)
Status: Introduced on May 1 2015 - 25% progression, died in committee
Action: 2015-05-01 - 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 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.

Tracking Information

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Title

Disaster Savings Accounts Act of 2015

Sponsors


History

DateChamberAction
2015-05-01HouseReferred to the House Committee on Ways and Means.
2015-05-01HouseIntroduced in House

Subjects


US Congress State Sources


Bill Comments

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