3.0.0 3679 2023-01-11T13:38:46Z 2023-01-11T13:38:46Z House HR 2017-09-05 115 [Congressional Record Volume 163, Number 142 (Tuesday, September 5, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. REED:H.R. 3679.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 H6654]]]> hswm00 Ways and Means Committee House Standing Referred to 2017-09-05T18:01:10Z Give A HAND Act 115 4172 HR 2017-11-03 Referred to the Subcommittee on Health. Related bill CRS 2017-09-05 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2017-09-05 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-09-05 Introduced in House IntroReferral 1000 9 Library of Congress R000585 Rep. Reed, Tom [R-NY-23] Tom Reed R NY 23 N P000096 Rep. Pascrell, Bill, Jr. [D-NJ-9] WILLIAM PASCRELL D NJ J. 9 2017-09-05 True K000188 Rep. Kind, Ron [D-WI-3] RON KIND D WI 3 2017-09-26 False L000557 Rep. Larson, John B. [D-CT-1] JOHN LARSON D CT B. 1 2017-09-26 False G000581 Rep. Gonzalez, Vicente [D-TX-15] Vicente Gonzalez D TX 15 2017-09-26 False P000034 Rep. Pallone, Frank, Jr. [D-NJ-6] FRANK PALLONE D NJ 6 2017-09-26 False S000522 Rep. Smith, Christopher H. [R-NJ-4] CHRISTOPHER SMITH R NJ H. 4 2017-09-26 False M001181 Rep. Meehan, Patrick [R-PA-7] Patrick Meehan R PA 7 2017-10-02 False L000554 Rep. LoBiondo, Frank A. [R-NJ-2] FRANK LOBIONDO R NJ A. 2 2017-10-02 False G000553 Rep. Green, Al [D-TX-9] Al Green D TX 9 2017-10-03 False Taxation Business investment and capital Charitable contributions Credit and credit markets Disaster relief and insurance Employee benefits and pensions Financial services and investments Health care costs and insurance 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 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 2017-09-05 Introduced in House 2018-03-06T21:28:35Z National Disaster Tax Relief Act of 2017

This bill amends the Internal Revenue Code to provide tax relief for federally-declared disasters in 2012, 2013, 2014, and 2015. For individuals and businesses located in or investing in the affected areas, the bill allows:

  • expensing of certain disaster expenses,
  • increased deductions for charitable contributions for disaster relief,
  • modifications to rules regarding the deduction of losses attributable to disasters,
  • waivers of certain mortgage revenue bond requirements,
  • an extension of the additional depreciation allowance for business property (bonus depreciation),
  • an increased new markets tax credit limitation,
  • penalty-free distributions from retirement plans,
  • an additional tax exemption for individuals who are displaced,
  • an exclusion from gross income for certain cancellations of indebtedness,
  • a modified rule for determining the earned income of individuals for the earned income tax credit and the child tax credit,
  • an increased rehabilitation tax credit for buildings,
  • additional advance refundings of certain tax-exempt bonds,
  • disaster area recovery bonds,
  • additional low-income housing tax credit allocations,
  • payments of disaster assistance to tax-exempt mutual ditch or irrigation companies without affecting their tax-exempt status,
  • an exclusion from gross income for disaster mitigation payments received from state and local governments,
  • a deduction for payments to a tax-exempt natural disaster fund,
  • a five-year replacement period for property for purposes of the exclusion of gain from an involuntary conversion,
  • a tax credit for a portion of the wages paid to employees, and
  • an enhanced deduction for medical expenses.
]]> National Disaster Tax Relief Act of 2017 Display Title National Disaster Tax Relief Act of 2017 Short Titles as Introduced National Disaster Tax Relief Act of 2017 Official Title as Introduced To amend the Internal Revenue Code of 1986 to provide tax relief for major disasters declared in any of calendar years 2012 through 2015, to make certain tax relief provisions permanent, and for other purposes. Introduced in House 2017-09-05T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr3679ih/xml/BILLS-115hr3679ih.xml 2017-09-05 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.