US Congress House Bill 3989 (Prior Session Legislation)

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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]

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.

Disaster Savings Accounts Act of 2013

Rep. Dennis Ross [R-FL]	Rep. Gus Bilirakis [R-FL]	Rep. Mike Coffman [R-CO]	Rep. Tom Cole [R-OK]
Sen. Tom Cotton [R-AR]	Rep. Ander Crenshaw [R-FL]	Rep. Mario Diaz-Balart [R-FL]	Rep. Frank Lucas [R-OK]
Rep. Mike McIntyre [D-NC]	Rep. Steven Palazzo [R-MS]	Rep. Thomas Rooney [R-FL]

Date	Chamber	Action
2014-02-04	House	Referred to the House Committee on Ways and Means.

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.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/3989/all-info
Text	https://www.congress.gov/113/bills/hr3989/BILLS-113hr3989ih.pdf