3.0.0 7166 2023-01-11T13:41:01Z 2023-01-11T13:41:01Z House HR 2018-11-20 115 Congressional Record, Volume 164 Issue 183 (Tuesday, November 20, 2018)
[Congressional Record Volume 164, Number 183 (Tuesday, November 20, 2018)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. DUNN:H.R. 7166.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, United States Constitution:``The Congress shall have Power . . . To make all Lawswhich shall be necessary and proper for carrying intoExecution the foregoing Powers, and all other Powers vestedby this Constitution in the Government of the United States,or in any Department or Officer thereof.''
[Page H9574]]]> hswm00 Ways and Means Committee House Standing Referred to 2018-11-20T15:30:20Z Hurricane Florence Tax Relief Act 115 6854 HR 2018-09-20 Referred to the House Committee on Ways and Means. Related bill CRS Hurricanes Florence and Michael and California Wildfire Tax Relief Act 115 3648 S 2018-11-15 Read twice and referred to the Committee on Finance. Related bill CRS Shiloh National Military Park Boundary Adjustment and Parker's Crossroads Battlefield Designation Act 115 88 HR 2018-12-21 Message on House action received in Senate and at desk: House amendment to Senate amendment. Related bill CRS 2018-11-20 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2018-11-20 Introduced in House IntroReferral Intro-H 9 Library of Congress 2018-11-20 Introduced in House IntroReferral 1000 9 Library of Congress D000628 Rep. Dunn, Neal P. [R-FL-2] Neal Dunn R FL P. 2 N L000586 Rep. Lawson, Al, Jr. [D-FL-5] Al Lawson D FL 5 2018-11-20 True Taxation Charitable contributions Disaster relief and insurance Employee benefits and pensions Florida Income tax credits Income tax deductions Income tax exclusion Natural disasters Poverty and welfare assistance Tax administration and collection, taxpayers Tax treatment of families Wages and earnings Taxation 00 2018-11-20 Introduced in House 2018-11-26T17:40:23Z Hurricane Michael Tax Relief Act

This bill amends the Internal Revenue Code to allow various tax credits, deductions, and modifications to existing rules for individuals and businesses affected by Hurricane Michael.

With respect to individuals and businesses in the affected areas, the bill:

  • waives the 10% additional tax on early distributions from retirement plans for up to $100,000 in distributions made on or after October 9, 2018, and before January 1, 2020;
  • permits individuals to recontribute funds to retirement plans if the funds were distributed for a home purchase in a Hurricane Michael disaster area that was cancelled on account of the hurricane;
  • increases the limit and extends the repayment deadline for loans from retirement plans;
  • allows an employee retention tax credit for a portion of the wages paid to an employee whose principal place of employment on specified dates was in a Hurricane Michael disaster zone;
  • temporarily suspends the limitation on charitable contributions for relief efforts in the Hurricane Michael disaster area;
  • modifies the rules for the deduction for personal casualty losses; and
  • allows taxpayers to use earned income from the immediately preceding year for the purpose of determining earned income for the earned income tax credit and the child tax credit.
]]> Hurricane Michael Tax Relief Act Display Title Hurricane Michael Tax Relief Act Official Title as Introduced To provide tax relief for the victims of Hurricane Michael, and for other purposes. Introduced in House IH Short Titles as Introduced Hurricane Michael Tax Relief Act Introduced in House 2018-11-20T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr7166ih/xml/BILLS-115hr7166ih.xml 2018-11-20 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.