HR 1787
110th Congress
House
Taxation
Bank accounts
Coinsurance
Disasters
Emergency Management
Finance and Financial Sector
Housing and Community Development
Income tax
Labor and Employment
Law
Property insurance
Saving and investment
Tax exclusion
Tax penalties
Trusts and trustees
Catastrophe Savings Accounts Act of 2007
Introduced: March 29, 2007
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 29, 2007
Referred to the House Committee on Ways and Means.
Mar 29, 2007
Introduced in House
Plain-English summary
Catastrophe Savings Accounts Act of 2007 - Amends the Internal Revenue Code to create tax-exempt catastrophe savings accounts (CSAs). Allows tax-free distributions from CSAs to pay expenses resulting from a presidentially declared major disaster. Limits CSA balances to: (1) $2,000 (for individuals with homeowner insurance deductibles of not more than $1,000); and (2) the lesser of $15,000 or twice a homeowner's insurance deductible (for individuals with deductibles of more than $1,000).
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1