US Congress Senate Bill 1456 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on August 1 2011 - 25% progression, died in committee
Action: 2011-08-01 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Disaster Tax Act of 2011 - Amends the Internal Revenue Code, with respect to disaster tax relief provisions, to: (1) provide for an increase in the tax deduction for losses attributable to a federally declared disaster, (2) make permanent expensing provisions for qualified disaster expenses and qualified disaster assistance property and for net operating losses attributable to federally declared disasters, (3) waive specified requirements for the issuance of mortgage revenue bonds in disaster areas, (4) increase the limit for charitable contributions for disaster relief for individuals and corporations, and (5) increase the new markets tax credit for low-income community investments within a disaster area.

Disaster Tax Act of 2011

Sen. John Kerry [D-MA]

Sen. Scott Brown [R-MA]

Date	Chamber	Action
2011-08-01	Senate	Read twice and referred to the Committee on Finance.

HB2718 (Same As) 2011-08-01 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/senate-bill/1456/all-info
Text	https://www.congress.gov/112/bills/s1456/BILLS-112s1456is.pdf