Fair Disaster Tax Relief Act of 2008
Latest action · Jul 29, 2008 Referred to the House Committee on Ways and Means.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJul 29, 2008
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Fair Disaster Tax Relief Act of 2008 - Amends the Internal Revenue Code to provide special tax rules for individuals affected by a federally declared disaster, including: (1) allowance of all personal casualty losses incurred in a federally declared disaster in excess of $500; (2) an increase in the standard tax deduction for disaster losses; (3) full expensing of business-related disaster cleanup expenses; (4) extension of the net operating loss carryback period from two to five years for disaster-related losses; and (5) allowance of tax-exempt bond financing of low-interest loans for principal residences damaged in a federally declared disaster.
Cosponsors 18
Members who signed on, in the order they did. Signatures ran from Jul 29, 2008 to Sep 18, 2008; 13 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-AL | Artur Davis | Original | Jul 29, 2008 |
| D-LA | Charlie Melancon | Original | Jul 29, 2008 |
| D-LA | Donald J. Cazayoux Jr. | Original | Jul 29, 2008 |
| R-WI | F. James Sensenbrenner, Jr. | Original | Jul 29, 2008 |
| D-WI | Gwen Moore | Original | Jul 29, 2008 |
| D-GA | John Lewis | Original | Jul 29, 2008 |
| D-TN | John S. Tanner | Original | Jul 29, 2008 |
| D-FL | Kendrick B. Meek | Original | Jul 29, 2008 |
| D-ME | Michael H. Michaud | Original | Jul 29, 2008 |
| R-TX | Ron Paul | Original | Jul 29, 2008 |
| D-MO | Russ Carnahan | Original | Jul 29, 2008 |
| D-NY | Timothy H. Bishop | Original | Jul 29, 2008 |
| D-LA | William J. Jefferson | Original | Jul 29, 2008 |
| D-NC | Brad Miller | Aug 1, 2008 | |
| R-CA | Wally Herger | Aug 1, 2008 | |
| R-CO | Marilyn N. Musgrave | Sep 9, 2008 | |
| D-FL | Alcee L. Hastings | Sep 18, 2008 | |
| R-TX | Kevin Brady | Sep 18, 2008 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Ways and Means Committee | Referred Jul 29, 2008 |
Actions 2
Everything that happened, newest first.
- Jul 29, 2008Introduced in House
- Jul 29, 2008Referred to the House Committee on Ways and Means.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 7006 | Disaster Tax Relief Act of 2008 | Related bill | Dec 9, 2008 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Internal Revenue Code of 1986 to provide relief in the case of federally declared disasters.
- Short Titles as Introduced
- Fair Disaster Tax Relief Act of 2008
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Jul 29, 2008Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
