HR 5915
111th Congress
House
Taxation
Bank accounts, deposits, capital
Disaster relief and insurance
Income tax exclusion
Catastrophe Savings Accounts Act of 2010
Introduced: July 28, 2010
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 28, 2010
Referred to the House Committee on Ways and Means.
Jul 28, 2010
Introduced in House
Plain-English summary
Catastrophe Savings Accounts Act of 2010 - 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
Cosponsors
1