Hurricane Florence Tax Relief Act
Latest action · Jan 14, 2019 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.
- IntroducedJan 14, 2019
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Hurricane Florence Tax Relief Act
This bill allows various tax credits, tax deductions, and modifications to existing rules for individuals and businesses affected by Hurricane Florence.
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 September 13, 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 Florence 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 Florence disaster zone;
- temporarily suspends the limitation on charitable contributions for relief efforts in the Hurricane Florence 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 9
Members who signed on, in the order they did. Signatures ran from Jan 14, 2019 to Jan 30, 2019, with 8 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-NC | David Rouzer | Original | Jan 14, 2019 |
| R-NC | Mark Meadows | Original | Jan 14, 2019 |
| R-NC | Mark Walker | Original | Jan 14, 2019 |
| R-NC | Richard Hudson | Original | Jan 14, 2019 |
| R-NC | Ted Budd | Original | Jan 14, 2019 |
| R-SC | Tom Rice | Original | Jan 14, 2019 |
| R-NC | Virginia Foxx | Original | Jan 14, 2019 |
| R-NC | Walter B. Jones | Original | Jan 14, 2019 |
| D-NC | David E. Price | Jan 30, 2019 |
Actions 2
Everything that happened, newest first.
- Jan 14, 2019Introduced in House
- Jan 14, 2019Referred to the House Committee on Ways and Means.
Related bills 7
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1133 | Disaster Tax Relief Act of 2019 | Related bill | Apr 10, 2019 |
| HR 1148 | 2018 Natural Disasters Tax Relief Act | Related bill | Feb 11, 2019 |
| HR 2145 | Disaster Tax Relief Act of 2019 | Related bill | Apr 9, 2019 |
| HR 2284 | Disaster Tax Relief Act of 2019 | Related bill | Apr 10, 2019 |
| S 2544 | Hurricanes Florence and Michael and California Wildfire Tax Relief Act | Related bill | Sep 25, 2019 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Charitable contributions
- Disaster relief and insurance
- Employee benefits and pensions
- Income tax credits
- Income tax deductions
- Income tax exclusion
- Natural disasters
- North Carolina
- Poverty and welfare assistance
- South Carolina
- Tax administration and collection, taxpayers
- Tax treatment of families
- Taxation
- Virginia
- Wages and earnings
Text 1
Each version as it was printed, newest first.
- Jan 14, 2019Introduced 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.