US Congress House Bill 8440 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on September 29 2020 - 25% progression, died in committee
Action: 2020-09-29 - Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Sets forth tax relief provisions for taxpayers residing in a disaster zone. Specifically, the bill allows penalty-free qualified disaster distributions from tax-exempt retirement plans up to $100,000, allows recontributions of distributions for home purchases cancelled due to disasters, increases to $100,000 the limit on loans from retirement plans not treated as distributions, allows an employee retention tax credit for 40% of wages paid by employers affected by a disaster, expands eligibility for disaster-related personal casualty losses, permits the calculation of the earned income tax credit based upon income earned prior to 2020, and suspends the limitation on corporate charitable contributions.

Disaster Tax Relief Act of 2020

Rep. Mike Thompson [D-CA]

Rep. Earl Blumenauer [D-OR]

Rep. Abby Finkenauer [D-IA]

Date	Chamber	Action
2020-09-29	House	Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2020-09-29	House	Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2020-09-29	House	Introduced in House

SB4596 (Related) 2020-09-16 - Read twice and referred to the Committee on Finance.
HB6762 (Related) 2020-05-08 - Referred to the House Committee on Ways and Means.
HB8314 (Related) 2020-09-18 - Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
SB3542 (Related) 2020-03-19 - Read twice and referred to the Committee on Finance.
SB4621 (Related) 2020-09-17 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/8440/all-info
Text	https://www.congress.gov/116/bills/hr8440/BILLS-116hr8440ih.pdf