Catastrophe Savings Accounts Act of 2006

openUnited States· United States Congress· EN

Introduced

25 May 2006

Last action

26 May 2006 · Introduced

Status

Sponsor introductory remarks on measure. (CR S5332-5333)

Summary

Catastrophe Savings Accounts Act of 2006 - Amends the Internal Revenue Code to create tax-exempt catastrophe savings accounts (CSAs). Allows tax-free distributions from CSAs to pay expenses resulting from a presidentially declared major disaster. Limits CSA balances to: (1) $2,000 (for individuals with homeowner insurance deductibles of not more than $1,000); and (2) the lesser of $15,000 or twice a homeowner's insurance deductible (for individuals with deductibles of more than $1,000).

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Timeline

25 May 2006
Introduced
Introduced in Senate
Source: IntroReferral
25 May 2006
Introduced
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S5235-5236)
Source: IntroReferral
26 May 2006
Introduced
Sponsor introductory remarks on measure. (CR S5332-5333)
Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Introduced in Senate · 25 May 2006 · Download file

Documents

3 official files

Introduced in Senate (text)

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Introduced in Senate (text)
Introduced in Senate · EN · 25 May 2006
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Introduced in Senate (PDF)
Introduced in Senate · EN · 25 May 2006
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Introduced in Senate
summary · EN · 25 May 2006
Open at official source
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Related records

related to → Catastrophe Savings Accounts Act of 2006

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/109th-congress/senate-bill/3115
Open data entity: https://api.congress.gov/v3/bill/109/s/3115
us · 109-s-3115 · source updated 11 December 2025