Skip to main content
HR 312 118th 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 2023

Introduced: January 12, 2023 Introduced by: Cloud, Michael Republican · Texas See on congress.gov
Sign in to write a letter Sign in to watch
This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) 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
Jan 12, 2023
Referred to the House Committee on Ways and Means.
Jan 12, 2023
Introduced in House
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Plain-English summary Congressional Research Service

Emergency Savings Accounts Act of 2023

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 January 12, 2023

Referred to the House Committee on Ways and Means.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 312: Emergency Savings Accounts Act of 2023. 118th Congress. Open America. https://openamerica.io/bill/118-HR-312/
MLA
"H.R. 312: Emergency Savings Accounts Act of 2023." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-312/.
Bluebook (legal)
H.R. 312, 118th Cong. (2026), https://openamerica.io/bill/118-HR-312/.
Markdown link
[H.R. 312: Emergency Savings Accounts Act of 2023](https://openamerica.io/bill/118-HR-312/)
Report a problem