California Wildfire Disaster Tax Relief Act of 2017

Summary

California Wildfire Disaster Tax Relief Act of 2017 This bill amends the Internal Revenue Code to allow various tax credits, deductions, and modifications to existing rules for individuals and businesses affected by wildfires in California. 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 8, 2017, and before January 1, 2019; permits individuals to recontribute funds to retirement plans if the funds were distributed for a home purchase in a wildfire disaster area that was cancelled on account of the wildfires; 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 wildfire disaster zone; temporarily suspends the limitation on charitable contributions for relief efforts in the wildfire disaster areas; 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. The bill is designated as an emergency requirement, which exempts the budgetary effects of the bill from certain budget enforcement rules, such as Pay-As-You-Go (PAYGO) rules.

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Timeline

1. 15 November 2017

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 15 November 2017

   Introduced

   Introduced in House

   Source: IntroReferral

3. 15 November 2017

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 15 November 2017 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 15 November 2017

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 15 November 2017

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 15 November 2017

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  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Walters, Mimi [R-CA-45] · R · Sponsor
• Rep. Thompson, Mike [D-CA-4] · D · Sponsor
• Rep. McCarthy, Kevin [R-CA-22] · R · Sponsor
• Rep. LaMalfa, Doug [R-CA-1] · R · Sponsor
• Rep. Royce, Edward R. [R-CA-39] · R · Sponsor
• Rep. Denham, Jeff [R-CA-10] · R · Sponsor
• Rep. Calvert, Ken [R-CA-41] · R · Sponsor
• Rep. Brownley, Julia [D-CA-26] · D · Sponsor
• Rep. Bera, Ami [D-CA-6] · D · Sponsor
• Rep. Lofgren, Zoe [D-CA-18] · D · Sponsor
• Rep. Huffman, Jared [D-CA-2] · D · Sponsor
• Rep. Costa, Jim [D-CA-21] · D · Sponsor
• Rep. Matsui, Doris O. [D-CA-7] · D · Sponsor
• Rep. Garamendi, John [D-CA-8] · D · Sponsor
• Rep. Speier, Jackie [D-CA-14] · D · Sponsor
• Rep. Lee, Barbara [D-CA-12] · D · Sponsor
• Rep. DeSaulnier, Mark [D-CA-10] · D · Sponsor
• Rep. Eshoo, Anna G. [D-CA-18] · D · Sponsor
• Rep. Gomez, Jimmy [D-CA-34] · D · Sponsor
• Rep. Knight, Stephen [R-CA-25] · R · Cosponsor
• Rep. Hunter, Duncan D. [R-CA-50] · R · Cosponsor
• Rep. McClintock, Tom [R-CA-5] · R · Cosponsor
• Rep. Lowenthal, Alan S. [D-CA-47] · D · Cosponsor
• · hsbu00 · Standing
• · hswm00 · Standing

Related records

• related to → Bipartisan Budget Act of 2018
• related to → Disaster Tax Relief and Airport and Airway Extension Act of 2017
• related to → A bill to provide tax relief related to Hurricanes Harvey, Irma, and Maria.
• related to → Shiloh National Military Park Boundary Adjustment and Parker's Crossroads Battlefield Designation Act
• related to ← Making further supplemental appropriations for the fiscal year ending September 30, 2018, for disaster assistance for Hurricanes Harvey, Irma, and Maria, and calendar year 2017 wildfires, and for other purposes.
• related to ← Hurricane Florence Tax Relief Act
• related to ← Hurricanes Florence and Michael and California Wildfire Tax Relief Act