Natural Disaster Tax Relief Act of 2023

Summary

Natural Disaster Tax Relief Act of 2023 This bill sets forth tax relief provisions for individual taxpayers for losses resulting from a major disaster occurring in 2023. Specifically, the bill allows penalty-free disaster-relief withdrawals from tax-exempt retirement plans up to $100,000, permits recontributions of such withdrawals for home purchases or construction cancelled due to the disaster, increases to $100,000 the limit on loans for disaster assistance from retirement plans, and enhances the tax deduction for disaster-related personal casualty losses.

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Timeline

1. 2 October 2023

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 2 October 2023

   Introduced

   Introduced in House

   Source: IntroReferral

3. 2 October 2023

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 2 October 2023 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 2 October 2023

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 2 October 2023

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 2 October 2023

  Open at official source

Sponsors

• Jill Tokuda · D · Sponsor
• Ed Case · D · Sponsor
• · hswm00 · Standing

Related records

• related to ← Natural Disaster Tax Relief Act of 2023