HR 1449
117th Congress
House
Taxation
Bank accounts, deposits, capital
Child care and development
Disaster relief and insurance
Emergency medical services and trauma care
Health care costs and insurance
Housing finance and home ownership
Income tax deductions
Income tax exclusion
Infectious and parasitic diseases
Inflation and prices
Landlord and tenant
Property tax
Public utilities and utility rates
Unemployment
Emergency Savings Accounts Act of 2021
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 1, 2021
Referred to the House Committee on Ways and Means.
Mar 1, 2021
Introduced in House
Plain-English summary
Emergency Savings Accounts Act of 2021
This bill allows an individual taxpayer occupying a residence a deduction from gross income for up to $5,000 of amounts paid into such taxpayer's emergency savings account. The bill defines emergency savings account as an account established exclusively to pay the qualified disaster and public health emergency expenses of the account beneficiary.
The bill defines qualified disaster and public health emergency expenses as disaster mitigation expenses, disaster recovery expenses, public health emergency expenses, and unemployment-related expenses.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1