Kansas Disaster Tax Relief Assistance Act
Official title: To extend tax relief to the residents and businesses of an area with respect to which a major disaster has been declared by the President under section 401 of … Show full official titleShow less
Official title: To extend tax relief to the residents and businesses of an area with respect to which a major disaster has been declared by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (FEMA-1699-DR) by reason of severe storms and tornados beginning on May 4, 2007, and determined by the President to warrant individual or individual and public assistance from the Federal Government under such Act.
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Referred to the House Committee on Ways and Means.
Kansas Disaster Tax Relief Assistance Act - Extends to businesses and individuals in certain Kansas counties declared by the President as major disaster areas under the Robert T. Stafford Disaster Relief and Emergency Assistance Act (FEMA-1699-DR, as in effect on the date of enactment of this Act) by reason of severe storms and tornados beginning on May 4, 2007, provisions of the Internal Revenue Code allowing: (1) suspension of certain limitations on personal casualty losses; (2) an extension of the period for replacing damaged property without recognizing gain; (3) an employee retention tax credit for affected businesses through 2007; (4) 50% bonus depreciation for affected businesses; (5) increased expensing of small business assets; (6) increased expensing of demolition and cleanup costs; (7) extended net operating loss carryback periods for losses attributable to storms and tornadoes and for public utility property disaster losses; (8) relaxed income verification requirements for tenants in low-income rental projects; and (9) penalty-free withdrawals and loans from individual retirement accounts and other tax-exempt pension plans.
- Introduced in House Formatted Text PDF Formatted XML
Cite this page
U.S. Congress. (2026). H.R. 2935: Kansas Disaster Tax Relief Assistance Act. 110th Congress. Open America. https://openamerica.io/bill/110-HR-2935/
"H.R. 2935: Kansas Disaster Tax Relief Assistance Act." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-HR-2935/.
H.R. 2935, 110th Cong. (2026), https://openamerica.io/bill/110-HR-2935/.
[H.R. 2935: Kansas Disaster Tax Relief Assistance Act](https://openamerica.io/bill/110-HR-2935/)