To amend the Internal Revenue Code of 1986 to provide tax relief for damages relating to federally declared disasters during September 2013, and for other purposes.

3.0.0 5082 2023-01-11T13:26:00Z 2023-01-11T13:26:00Z House H HR 2014-07-11 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. REED:H.R. 5082.Congress has the power to enact this legislation pursuantto the following:Clause 1 of Section 8 of Article I and Amendment XVI of theUnited States Constitution.[Page H6136]]]> hswm00 Ways and Means Committee House Standing Referred to 2014-07-11T13:00:40Z To amend the Internal Revenue Code of 1986 to provide tax relief for damages relating to federally declared disasters during September 2013, and for other purposes. 113 4497 HR 2014-04-28 Referred to the House Committee on Ways and Means. Related bill CRS National Disaster Tax Relief Act of 2014 113 2233 S 2014-04-09 Read twice and referred to the Committee on Finance. Related bill CRS National Disaster Tax Relief Act of 2014 113 2634 S 2014-07-22 Read twice and referred to the Committee on Finance. Related bill CRS 2014-07-11 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2014-07-11 Introduced in House IntroReferral Intro-H 9 Library of Congress 2014-07-11 Introduced in House IntroReferral 1000 9 Library of Congress R000585 Rep. Reed, Tom [R-NY-23] Tom Reed R NY 23 N G000562 Rep. Gardner, Cory [R-CO-4] Cory Gardner R CO 4 2014-07-11 True G000564 Rep. Gibson, Christopher P. [R-NY-19] Christopher Gibson R NY P. 19 2014-07-11 True C001053 Rep. Cole, Tom [R-OK-4] Tom Cole R OK 4 2014-07-11 True G000567 Rep. Griffin, Tim [R-AR-2] Tim Griffin R AR 2 2014-07-11 True H001045 Rep. Harper, Gregg [R-MS-3] Gregg Harper R MS 3 2014-07-11 True R000594 Rep. Runyan, Jon [R-NJ-3] Jon Runyan R NJ 3 2014-07-11 True C001047 Rep. Capito, Shelley Moore [R-WV-2] Shelley Capito R WV Moore 2 2014-07-11 True M001192 Rep. McAllister, Vance M. [R-LA-5] Vance McAllister R LA M. 5 2014-07-11 True K000210 Rep. King, Peter T. [R-NY-2] PETER KING R NY T. 2 2014-07-11 True C001075 Rep. Cassidy, Bill [R-LA-6] Bill Cassidy R LA 6 2014-07-11 True G000549 Rep. Gerlach, Jim [R-PA-6] Jim Gerlach R PA 6 2014-07-11 True F000451 Rep. Fitzpatrick, Michael G. [R-PA-8] Michael Fitzpatrick R PA G. 8 2014-07-11 True S001179 Rep. Schock, Aaron [R-IL-18] Aaron Schock R IL 18 2014-07-11 True P000096 Rep. Pascrell, Bill, Jr. [D-NJ-9] WILLIAM PASCRELL D NJ J. 9 2014-07-11 True B001251 Rep. Butterfield, G. K. [D-NC-1] G. K. Butterfield D NC 1 2014-07-11 True D000617 Rep. DelBene, Suzan K. [D-WA-1] Suzan DelBene D WA K. 1 2014-07-11 True P000598 Rep. Polis, Jared [D-CO-2] Jared Polis D CO 2 2014-07-11 True P000034 Rep. Pallone, Frank, Jr. [D-NJ-6] FRANK PALLONE D NJ 6 2014-07-11 True C001038 Rep. Crowley, Joseph [D-NY-14] JOSEPH CROWLEY D NY 14 2014-07-11 True H001032 Rep. Holt, Rush [D-NJ-12] RUSH HOLT D NJ D. 12 2014-07-11 True L000557 Rep. Larson, John B. [D-CT-1] JOHN LARSON D CT B. 1 2014-07-11 True R000053 Rep. Rangel, Charles B. [D-NY-13] CHARLES RANGEL D NY B. 13 2014-07-11 True R000588 Rep. Richmond, Cedric L. [D-LA-2] Cedric Richmond D LA L. 2 2014-07-11 True I000057 Rep. Israel, Steve [D-NY-3] STEVE ISRAEL D NY 3 2014-07-11 True B001242 Rep. Bishop, Timothy H. [D-NY-1] Timothy Bishop D NY H. 1 2014-07-11 True L000560 Rep. Larsen, Rick [D-WA-2] RICK LARSEN D WA 2 2014-07-11 True S001165 Rep. Sires, Albio [D-NJ-8] Albio Sires D NJ 8 2014-07-11 True M000309 Rep. McCarthy, Carolyn [D-NY-4] CAROLYN MCCARTHY D NY 4 2014-07-11 True D000619 Rep. Davis, Rodney [R-IL-13] Rodney Davis R IL 13 2014-07-11 True C001077 Rep. Coffman, Mike [R-CO-6] Mike Coffman R CO 6 2014-07-24 False J000294 Rep. Jeffries, Hakeem S. [D-NY-8] Hakeem Jeffries D NY S. 8 2014-07-24 False S000522 Rep. Smith, Christopher H. [R-NJ-4] CHRISTOPHER SMITH R NJ H. 4 2014-07-30 False D000216 Rep. DeLauro, Rosa L. [D-CT-3] ROSA DELAURO D CT 3 2014-07-30 False K000376 Rep. Kelly, Mike [R-PA-3] Mike Kelly R PA 3 2014-09-09 False L000554 Rep. LoBiondo, Frank A. [R-NJ-2] FRANK LOBIONDO R NJ A. 2 2014-09-09 False L000263 Rep. Levin, Sander M. [D-MI-9] SANDER LEVIN D MI M. 9 2014-09-09 False L000480 Rep. Lowey, Nita M. [D-NY-17] NITA LOWEY D NY M. 17 2014-09-09 False P000604 Rep. Payne, Donald M., Jr. [D-NJ-10] Donald Payne D NJ M. 10 2014-11-17 False D000604 Rep. Dent, Charles W. [R-PA-15] Charles Dent R PA W. 15 2014-11-17 False G000569 Rep. Grimm, Michael G. [R-NY-11] Michael Grimm R NY G. 11 2014-11-17 False T000460 Rep. Thompson, Mike [D-CA-5] MIKE THOMPSON D CA 5 2014-12-03 False Taxation Business investment and capital Charitable contributions Credit and credit markets Disaster relief and insurance Employee benefits and pensions Financial services and investments Homelessness and emergency shelter Housing finance and home ownership Income tax credits Income tax deductions Income tax exclusion Life, casualty, property insurance Low- and moderate-income housing Natural disasters Poverty and welfare assistance Residential rehabilitation and home repair Securities Social work, volunteer service, charitable organizations State and local government operations Tax administration and collection, taxpayers Tax treatment of families Tax-exempt organizations Wages and earnings Water use and supply Taxation

00 2014-07-11 Introduced in House 2014-08-28T18:20:54Z National Disaster Tax Relief Act of 2014 - Amends the Internal Revenue Code to provide tax relief for disasters declared in 2012, 2013, and 2014 by:

extending through 2014 the election to expense qualified disaster expenses (i.e., for removal of debris, demolition, and repair of business-related property);
increasing the tax deduction for charitable contributions for disaster relief for individual and corporate taxpayers;
allowing through 2014 the deduction of losses attributable to disasters;
allowing waivers of requirements relating to mortgage revenue bonds;
extending through 2014 the additional allowance for depreciation of business property (bonus depreciation);
allowing an increase through 2015 of the new markets tax credit limitation amount within a federally-declared disaster area;
permitting the use of tax-exempt retirement plan funds in federally-declared disasters without penalty;
allowing an additional tax exemption for individuals who are displaced as a result of a federally-declared disaster;
allowing an exclusion from gross income of imputed income from the cancellation of indebtedness resulting from federally-declared disasters;
providing a special rule to allow individuals affected by a disaster in 2012, 2013, or 2014 to claim a full earned income tax credit;
increasing the rehabilitation tax credit for buildings affected by a federally-declared disaster;
permitting one additional advance refunding of a tax-exempt bond that is outstanding on the date on which a federally-declared disaster occurs;
allowing the issuance of qualified disaster area recovery bonds;
allowing an additional allocation of the low-income housing tax credit in 2014 to states affected by a federally-declared disaster occurring in 2012 or 2013;
allowing payments of disaster assistance to tax-exempt mutual ditch or irrigation companies without affecting their tax-exempt status;
allowing an exclusion from gross income for disaster mitigation payments received from state and local governments; and
allowing a tax deduction for payments to a tax-exempt natural disaster fund.

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National Disaster Tax Relief Act of 2014 Display Title National Disaster Tax Relief Act of 2014 Official Title as Introduced To provide tax relief for major disaster areas declared in 2012, 2013, and 2014, and for other purposes. Introduced in House IH Short Titles as Introduced National Disaster Tax Relief Act of 2014 Introduced in House 2014-07-11T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr5082ih/xml/BILLS-113hr5082ih.xml 2014-07-11 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.