California Wildfire Tax Relief Act of 2007
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California Wildfire Tax Relief Act of 2007 - Provides special tax treatment for taxpayers in areas affected by the California wildfires of October 2007 relating to: (1) nonrecognition of gain from the involuntary conversion of property; (2) limitations on charitable contributions for relief efforts; (3) the exclusion from gross income for discharges of indebtedness; (4) mortgage revenue bonds; (5) limitations on personal casualty losses; (6) additional tax exemptions for providing housing for displaced individuals; (7) earned income calculations; (8) dependency status for purposes of tax exemptions or the child tax credit; (9) premature withdrawals from retirement plans; (10) income averaging; (11) recontributions to tax-deferred home purchase plans; and (12) loans from tax-qualified employer plans.
Referred to the House Committee on Ways and Means.
- Introduced in House Formatted Text PDF Formatted XML
Cite this page
U.S. Congress. (2026). H.R. 3987: California Wildfire Tax Relief Act of 2007. 110th Congress. Open America. https://openamerica.io/bill/110-HR-3987/
"H.R. 3987: California Wildfire Tax Relief Act of 2007." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-HR-3987/.
H.R. 3987, 110th Cong. (2026), https://openamerica.io/bill/110-HR-3987/.
[H.R. 3987: California Wildfire Tax Relief Act of 2007](https://openamerica.io/bill/110-HR-3987/)