Disaster Savings Accounts Act of 2015

Summary

Disaster Savings Accounts Act of 2015 Amends the Internal Revenue Code to: (1) establish tax-exempt disaster savings accounts to pay the expenses of homeowners for disaster mitigation and recovery expenses, (2) allow a deduction from gross income (above-the-line deduction) up to $5,000 (adjusted annually for inflation) in a taxable year for cash contributions to such accounts, (3) exclude from gross income distributions from such accounts to pay disaster mitigation and recovery expenses; and (4) set forth tax rules and penalties for excess contributions to disaster savings accounts and for failure to file required reports on such accounts.

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Timeline

1. 1 May 2015

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 1 May 2015

   Introduced

   Introduced in House

   Source: IntroReferral

3. 1 May 2015

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 1 May 2015 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 1 May 2015

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 1 May 2015

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 1 May 2015

  Open at official source

Sponsors

• Dennis Ross · R · Sponsor
• Steven Palazzo · R · Cosponsor
• PETER KING · R · Cosponsor
• Brian Babin · R · Cosponsor
• · hswm00 · Standing

Related records

• related to → Disaster Savings Accounts Act of 2017