Hurricane Michael Tax Relief Act
Latest action · Nov 20, 2018 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.
- IntroducedNov 20, 2018
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Hurricane Michael Tax Relief Act
This bill amends the Internal Revenue Code to allow various tax credits, deductions, and modifications to existing rules for individuals and businesses affected by Hurricane Michael.
With respect to individuals and businesses in the affected areas, the bill:
- waives the 10% additional tax on early distributions from retirement plans for up to $100,000 in distributions made on or after October 9, 2018, and before January 1, 2020;
- permits individuals to recontribute funds to retirement plans if the funds were distributed for a home purchase in a Hurricane Michael disaster area that was cancelled on account of the hurricane;
- increases the limit and extends the repayment deadline for loans from retirement plans;
- allows an employee retention tax credit for a portion of the wages paid to an employee whose principal place of employment on specified dates was in a Hurricane Michael disaster zone;
- temporarily suspends the limitation on charitable contributions for relief efforts in the Hurricane Michael disaster area;
- modifies the rules for the deduction for personal casualty losses; and
- allows taxpayers to use earned income from the immediately preceding year for the purpose of determining earned income for the earned income tax credit and the child tax credit.
Cosponsors 1
Members who signed on, in the order they did. All signed on Nov 20, 2018.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-FL | Al Lawson, Jr. | Original | Nov 20, 2018 |
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 Nov 20, 2018 |
Actions 2
Everything that happened, newest first.
- Nov 20, 2018Introduced in House
- Nov 20, 2018Referred to the House Committee on Ways and Means.
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
The sponsor’s statement, as printed in the Congressional Record, vol. 164, no. 183, November 20, 2018, page H9574.
Related bills 3
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 88 | Shiloh National Military Park Boundary Adjustment and Parker's Crossroads Battlefield Designation Act | Related bill | Dec 21, 2018 |
| S 3648 | Hurricanes Florence and Michael and California Wildfire Tax Relief Act | Related bill | Nov 15, 2018 |
| HR 6854 | Hurricane Florence Tax Relief Act | Related bill | Sep 20, 2018 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To provide tax relief for the victims of Hurricane Michael, and for other purposes.
- Short Titles as Introduced
- Hurricane Michael Tax Relief Act
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Charitable contributions
- Disaster relief and insurance
- Employee benefits and pensions
- Florida
- Income tax credits
- Income tax deductions
- Income tax exclusion
- Natural disasters
- Poverty and welfare assistance
- Tax administration and collection, taxpayers
- Tax treatment of families
- Taxation
- Wages and earnings
Text 1
Each version as it was printed, newest first.
- Nov 20, 2018Introduced 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.
