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S 3043 118th Congress Senate Taxation

Natural Disaster Tax Relief Act of 2023

Introduced: October 16, 2023 Introduced by: Hirono, Mazie K. Democratic · Hawaii See on congress.gov
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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
Oct 16, 2023
Read twice and referred to the Committee on Finance.
Oct 16, 2023
Introduced in Senate
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 Plain-English summary Congressional Research Service

Natural Disaster Tax Relief Act of 2023

This bill sets forth tax relief provisions for individual taxpayers for losses resulting from a major disaster occurring in 2023.

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 or construction cancelled due to the disaster,
  • increases to $100,000 the limit on loans for disaster assistance from retirement plans, and
  • enhances the tax deduction for disaster-related personal casualty losses.
What's happening now October 16, 2023

Read twice and referred to the Committee on Finance.

 Related & companion bills 1
  • HR 5873 Identical bill Natural Disaster Tax Relief Act of 2023
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Schatz, Brian
Hawaii · Oct 16, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). S. 3043: Natural Disaster Tax Relief Act of 2023. 118th Congress. Open America. https://openamerica.io/bill/118-S-3043/
MLA
"S. 3043: Natural Disaster Tax Relief Act of 2023." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-3043/.
Bluebook (legal)
S. 3043, 118th Cong. (2026), https://openamerica.io/bill/118-S-3043/.
Markdown link
[S. 3043: Natural Disaster Tax Relief Act of 2023](https://openamerica.io/bill/118-S-3043/)
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