Small Business Emergency Savings Accounts Act of 2021 2021-03-01 Introduced in House Small Business Emergency Savings Accounts Act of 2021

This bill allows a new tax deduction from gross income for amounts paid into a small business emergency savings account. Such savings accounts are established exclusively to pay the qualified disaster and public health emergency expenses of the account beneficiary.

The bill defines qualified disaster and public health emergency expenses as disaster loss replacement expenses, disaster recovery operations expenses, and public health emergency expenses.

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