117 S5257 IS: To amend the Internal Revenue Code of 1986 to extend the time during which a qualified disaster may have occurred for purposes of the special rules for personal casualty losses. U.S. Senate 2022-12-14 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.

II117th CONGRESS2d SessionS. 5257IN THE SENATE OF THE UNITED STATESDecember 14, 2022Mr. Cassidy (for himself and Mrs. Feinstein) introduced the following bill; which was read twice and referred to the Committee on FinanceA BILLTo amend the Internal Revenue Code of 1986 to extend the time during which a qualified disaster may have occurred for purposes of the special rules for personal casualty losses.

1.

Extension of definition of qualified disaster for purposes of personal casualty loss rules

(a)

In general

Paragraph (3) of section 304(b) of the Taxpayer Certainty and Disaster Tax Relief Act of 2020 is amended—(1)by striking this subsection, the term and inserting “this subsection—(A)

In general

The term, and(2)by adding at the end the following new subparagraph:(B)

Extension

For purposes of subparagraph (A), section 301(1)(A) shall be applied by substituting December 31, 2023 for the date which is 60 days after the date of the enactment of this Act..(b)

Effective date

The amendments made by this section shall apply to areas with respect to which a major disaster was declared by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act on or after the date which is 60 days after the date of the enactment of the Taxpayer Certainty and Disaster Tax Relief Act of 2020.