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S 4621 116th Congress Senate Taxation Business expenses Disaster relief and insurance Employee benefits and pensions Housing finance and home ownership Income tax credits Income tax deductions Income tax exclusion Low- and moderate-income housing Tax administration and collection, taxpayers U.S. territories and protectorates Wages and earnings

2020 Disasters Tax Relief Act

Introduced: September 17, 2020 Introduced by: Wyden, Ron Democratic · Oregon See on congress.gov
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 17, 2020
Read twice and referred to the Committee on Finance.
Sep 17, 2020
Introduced in Senate
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 Plain-English summary Congressional Research Service

2020 Disasters Tax Relief Act

This bill sets forth tax relief provisions for individual and business taxpayers residing in a disaster zone during the period beginning on January 1, 2020, and ending 60 days after the enactment of this bill. Specifically, the bill

  • allows penalty-free disaster-relief withdrawals from tax-exempt retirement plans up to $100,000,
  • permits recontributions of such withdrawals for home purchases cancelled due to disasters,
  • increases to $100,000 the limit on loans for disaster assistance from retirement plans,
  • allows employers affected by a disaster a 40% tax credit for the purpose of retaining employees,
  • enhances the tax deduction for disaster-related personal casualty losses,
  • permits the calculation of the earned income tax credit based upon income earned prior to 2020,
  • increases low-income housing tax credit allocations,
  • reimburses U.S. possessions for losses sustained due to the application of the provisions of this bill.
What's happening now September 17, 2020

Read twice and referred to the Committee on Finance.

 Related & companion bills 3
  • S 4596 Related bill Disaster Tax Relief Act of 2020
  • HR 1865 Related bill Further Consolidated Appropriations Act, 2020
  • HR 8440 Related bill Disaster Tax Relief Act of 2020
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 3
D
Cantwell, Maria
Washington · Sep 21, 2020
 D
Merkley, Jeff
Oregon · Sep 17, 2020
 D
Murray, Patty
Washington · Sep 17, 2020
Cite this page click to expand
APA
U.S. Congress. (2026). S. 4621: 2020 Disasters Tax Relief Act. 116th Congress. Open America. https://openamerica.io/bill/116-S-4621/
MLA
"S. 4621: 2020 Disasters Tax Relief Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-4621/.
Bluebook (legal)
S. 4621, 116th Cong. (2026), https://openamerica.io/bill/116-S-4621/.
Markdown link
[S. 4621: 2020 Disasters Tax Relief Act](https://openamerica.io/bill/116-S-4621/)
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