HR 6683 · 112th Congress 2011–2013, ended

Hurricane Sandy Tax Relief Act of 2012

Introduced Dec 19, 2012 Originated House Sponsor Bill Pascrell, Jr. D-NJ

Fact sheet Spreadsheet

Latest action · Dec 19, 2012 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.

  1. IntroducedDec 19, 2012
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Hurricane Sandy Tax Relief Act of 2012 - Amends the Internal Revenue Code to provide tax benefits for individuals and businesses affected by Hurricane Sandy, including:

  • an exemption from the gross income limitation for deducting casualty losses attributable to Hurricane Sandy;
  • expensing allowances for Hurricane Sandy disaster expenses, disaster assistance property, and environmental remediation expenses;
  • treatment of losses attributable to Hurricane Sandy as net operating losses;
  • suspension of mortgage revenue bond requirements for residences located in the Hurricane Sandy disaster area;
  • an increased charitable tax deduction for Hurricane Sandy disaster relief contributions;
  • a special allocation of the new markets tax credit for investments in community development entities serving the disaster area;
  • special adjustments to the earned income tax credit and the child tax credit for individuals living in the disaster area;
  • a work opportunity tax credit for hiring employees residing in the disaster area;
  • authorization for issuance of Hurricane Sandy bonds to finance disaster relief projects; and
  • an additional allocation of low-income housing credits in states affected by Hurricane Sandy.

Cosponsors 26

Members who signed on, in the order they did. All signed on Dec 19, 2012.

SeatCosponsorSigned on
D-NJAlbio SiresOriginalDec 19, 2012
D-NYBrian HigginsOriginalDec 19, 2012
D-NYCharles B. RangelOriginalDec 19, 2012
R-NJChristopher H. SmithOriginalDec 19, 2012
D-NJDonald M. Payne, Jr.OriginalDec 19, 2012
D-NYEdolphus TownsOriginalDec 19, 2012
D-NYEliot L. EngelOriginalDec 19, 2012
R-NJFrank A. LoBiondoOriginalDec 19, 2012
D-NJFrank Pallone, Jr.OriginalDec 19, 2012
D-NYGary L. AckermanOriginalDec 19, 2012
D-RIJames R. LangevinOriginalDec 19, 2012
D-CTJoe CourtneyOriginalDec 19, 2012
D-CTJohn B. LarsonOriginalDec 19, 2012
R-NJJon RunyanOriginalDec 19, 2012
D-NYJoseph CrowleyOriginalDec 19, 2012
R-NJLeonard LanceOriginalDec 19, 2012
R-NYMichael G. GrimmOriginalDec 19, 2012
D-NYNita M. LoweyOriginalDec 19, 2012
D-NJRobert E. AndrewsOriginalDec 19, 2012
R-NYRobert L. TurnerOriginalDec 19, 2012
R-NJRodney P. FrelinghuysenOriginalDec 19, 2012
D-CTRosa L. DeLauroOriginalDec 19, 2012
D-NJRush HoltOriginalDec 19, 2012
R-NJScott GarrettOriginalDec 19, 2012
D-NYSteve IsraelOriginalDec 19, 2012
R-NYTom ReedOriginalDec 19, 2012

Committees 1

Where it was sent and what each committee and subcommittee did with it, in order.

ChamberCommitteeWhat it did
HouseWays and Means Committee
Referred Dec 19, 2012

Actions 2

Everything that happened, newest first.

  1. Dec 19, 2012Introduced in House
  2. Dec 19, 2012Referred to the House Committee on Ways and Means.

In the Congressional Record 1

Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.

WhereIn the RecordMembersDate
HouseLists H7360H.R. 6683–6689—Dec 19, 2012

Research

What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.

Constitutional authority

Congress has the power to enact this legislation pursuant to the following: Congress has the power to enact this legislation pursuant to Article I, Section 8, Clause 3 of the United States Constitution.

The sponsor’s statement, as printed in the page H7360.

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 tax relief for damages relating to Hurricane Sandy, and for other purposes.
Short Titles as Introduced
Hurricane Sandy Tax Relief Act of 2012

Subjects

Assigned by the Library of Congress. Policy area: Taxation.

Text 1

Each version as it was printed, newest first.

  1. Dec 19, 2012Introduced in House

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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.