HR 6640
110th Congress
House
Taxation
Disaster relief and insurance
Housing finance and home ownership
Income tax deductions
Securities
Fair Disaster Tax Relief Act of 2008
Introduced: July 29, 2008
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 29, 2008
Referred to the House Committee on Ways and Means.
Jul 29, 2008
Introduced in House
Plain-English summary
Fair Disaster Tax Relief Act of 2008 - Amends the Internal Revenue Code to provide special tax rules for individuals affected by a federally declared disaster, including: (1) allowance of all personal casualty losses incurred in a federally declared disaster in excess of $500; (2) an increase in the standard tax deduction for disaster losses; (3) full expensing of business-related disaster cleanup expenses; (4) extension of the net operating loss carryback period from two to five years for disaster-related losses; and (5) allowance of tax-exempt bond financing of low-interest loans for principal residences damaged in a federally declared disaster.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1