I 
118TH CONGRESS 
2D SESSION 
H. R. 9081 
To provide for emergency tax relief for taxpayers affected by the severe 
storms, flooding, straight-line winds, and tornadoes in certain Iowa counties. 
IN THE HOUSE OF REPRESENTATIVES 
JULY 22, 2024 
Mr. FEENSTRA (for himself, Mr. NUNN of Iowa, Mrs. HINSON, and Mrs. MIL-
LER-MEEKS) introduced the following bill; which was referred to the 
Committee on Ways and Means 
A BILL 
To provide for emergency tax relief for taxpayers affected 
by the severe storms, flooding, straight-line winds, and 
tornadoes in certain Iowa counties. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Storm Recovery and 
Community Restoration Act’’. 
SEC. 2. SPECIAL DISASTER-RELATED RULES FOR USE OF 
RETIREMENT FUNDS. 
(a) TAX-FAVORED WITHDRAWALS FROM RETIRE-
MENT PLANS.— 
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(1) IN GENERAL.—Section 72(t) of the Internal 
Revenue Code of 1986 shall not apply to any quali-
fied Iowa disaster distribution. 
(2) AGGREGATE DOLLAR LIMITATION.— 
(A) IN GENERAL.—For purposes of this 
subsection, the aggregate amount of distribu-
tions received by an individual which may be 
treated as qualified Iowa disaster distributions 
for any taxable year shall not exceed the excess 
(if any) of— 
(i) $100,000, over 
(ii) the aggregate amounts treated as 
qualified Iowa disaster distributions re-
ceived by such individual for all prior tax-
able years. 
(B) TREATMENT
OF
PLAN
DISTRIBU-
TIONS.—If a distribution to an individual would 
(without regard to subparagraph (A)) be a 
qualified Iowa disaster distribution, a plan shall 
not be treated as violating any requirement of 
the Internal Revenue Code of 1986 merely be-
cause the plan treats such distribution as a 
qualified Iowa disaster distribution, unless the 
aggregate amount of such distributions from all 
plans maintained by the employer (and any 
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member of any controlled group which includes 
the employer) to such individual exceeds 
$100,000. 
(C) CONTROLLED GROUP.—For purposes 
of subparagraph (B), the term ‘‘controlled 
group’’ means any group treated as a single 
employer under subsection (b), (c), (m), or (o) 
of section 414 of the Internal Revenue Code of 
1986. 
(3) AMOUNT DISTRIBUTED MAY BE REPAID.— 
(A) IN GENERAL.—Any individual who re-
ceives a qualified Iowa disaster distribution 
may, at any time during the 3-year period be-
ginning on the day after the date on which such 
distribution was received, make one or more 
contributions in an aggregate amount not to ex-
ceed the amount of such distribution to an eligi-
ble retirement plan of which such individual is 
a beneficiary and to which a rollover contribu-
tion of such distribution could be made under 
section 402(c), 403(a)(4), 403(b)(8), 408(d)(3), 
or 457(e)(16), of the Internal Revenue Code of 
1986, as the case may be. 
(B) TREATMENT OF REPAYMENTS OF DIS-
TRIBUTIONS
FROM
ELIGIBLE
RETIREMENT 
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PLANS
OTHER
THAN
IRAS.—For purposes of 
the Internal Revenue Code of 1986, if a con-
tribution is made pursuant to subparagraph (A) 
with respect to a qualified Iowa disaster dis-
tribution from an eligible retirement plan other 
than an individual retirement plan, then the 
taxpayer shall, to the extent of the amount of 
the contribution, be treated as having received 
the qualified Iowa disaster distribution in an el-
igible rollover distribution (as defined in section 
402(c)(4) of such Code) and as having trans-
ferred the amount to the eligible retirement 
plan in a direct trustee to trustee transfer with-
in 60 days of the distribution. 
(C) TREATMENT
OF
REPAYMENTS
FOR 
DISTRIBUTIONS FROM IRAS.—For purposes of 
the Internal Revenue Code of 1986, if a con-
tribution is made pursuant to subparagraph (A) 
with respect to a qualified Iowa disaster dis-
tribution from an individual retirement plan (as 
defined by section 7701(a)(37) of such Code), 
then, to the extent of the amount of the con-
tribution, the qualified Iowa disaster distribu-
tion shall be treated as a distribution described 
in section 408(d)(3) of such Code and as having 
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been transferred to the eligible retirement plan 
in a direct trustee to trustee transfer within 60 
days of the distribution. 
(4) DEFINITIONS.—For purposes of this sub-
section— 
(A) QUALIFIED IOWA DISASTER DISTRIBU-
TION.—Except as provided in paragraph (2), 
the term ‘‘qualified Iowa disaster distribution’’ 
means any distribution from an eligible retire-
ment plan made on or after the applicable date, 
and before January 1, 2026, to an individual 
whose principal place of abode on the applicable 
date, is located in the Iowa disaster area. 
(B) IOWA DISASTER AREA.—For purposes 
of paragraph (1), the term ‘‘Iowa disaster area’’ 
means— 
(i) any area within the Iowa counties 
of 
Clarke, 
Harrison, 
Mills, 
Polk, 
Pottawattamie, Ringgold, Shelby, or Union 
with respect to which a major disaster was 
declared, during the period beginning on 
April 26, 2024, and ending on the date 
which is 60 days after the date of the en-
actment of this Act, by the President 
under section 401 of the Robert T. Staf-
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ford Disaster Relief and Emergency Assist-
ance Act, and 
(ii) any area within the Iowa counties 
of Clay, Emmet, Lyon, Plymouth, or Sioux 
with respect to which a major disaster was 
declared, during the period beginning on 
June 16, 2024, and ending on the date 
which is 60 days after the date of the en-
actment of this Act, by the President 
under section 401 of the Robert T. Staf-
ford Disaster Relief and Emergency Assist-
ance Act. 
(C) APPLICABLE DATE.—For purposes of 
this paragraph, the term ‘‘applicable date’’ 
means— 
(i) in the case of a disaster area de-
scribed in subparagraph (B)(i), April 26, 
2024, and 
(ii) in the case of a disaster area de-
scribed in subparagraph (B)(ii), June 16, 
2024. 
(D) ELIGIBLE
RETIREMENT
PLAN.—The 
term ‘‘eligible retirement plan’’ has the meaning 
given such term by section 402(c)(8)(B) of the 
Internal Revenue Code of 1986. 
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(5) INCOME INCLUSION SPREAD OVER 3-YEAR 
PERIOD.— 
(A) IN
GENERAL.—In the case of any 
qualified Iowa disaster distribution, unless the 
taxpayer elects not to have this paragraph 
apply for any taxable year, any amount re-
quired to be included in gross income for such 
taxable year shall be so included ratably over 
the 3-taxable-year period beginning with such 
taxable year. 
(B) SPECIAL RULE.—For purposes of sub-
paragraph (A), rules similar to the rules of sub-
paragraph (E) of section 408A(d)(3) of the In-
ternal Revenue Code of 1986 shall apply. 
(6) SPECIAL RULES.— 
(A) EXEMPTION OF DISTRIBUTIONS FROM 
TRUSTEE TO TRUSTEE TRANSFER AND WITH-
HOLDING
RULES.—For purposes of sections 
401(a)(31), 402(f), and 3405 of the Internal 
Revenue Code of 1986, qualified Iowa disaster 
distributions shall not be treated as eligible roll-
over distributions. 
(B) QUALIFIED IOWA DISASTER DISTRIBU-
TIONS TREATED AS MEETING PLAN DISTRIBU-
TION REQUIREMENTS.—For purposes the Inter-
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nal Revenue Code of 1986, a qualified Iowa dis-
aster distribution shall be treated as meeting 
the requirements of sections 401(k)(2)(B)(i), 
403(b)(7)(A)(ii), 403(b)(11), and 457(d)(1)(A) 
of such Code. 
(b) RECONTRIBUTIONS
OF
WITHDRAWALS
FOR 
HOME PURCHASES.— 
(1) RECONTRIBUTIONS.— 
(A) IN GENERAL.—Any individual who re-
ceived a qualified distribution may, during the 
period beginning on the applicable date, and 
ending on December 31, 2024, make one or 
more contributions in an aggregate amount not 
to exceed the amount of such qualified distribu-
tion to an eligible retirement plan (as defined in 
section 402(c)(8)(B) of the Internal Revenue 
Code of 1986) of which such individual is a 
beneficiary and to which a rollover contribution 
of such distribution could be made under sec-
tion 402(c), 403(a)(4), 403(b)(8), or 408(d)(3), 
of such Code, as the case may be. 
(B) TREATMENT OF REPAYMENTS.—Rules 
similar to the rules of subparagraphs (B) and 
(C) of subsection (a)(3) shall apply for purposes 
of this subsection. 
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(2) QUALIFIED DISTRIBUTION.—For purposes 
of this subsection, the term ‘‘qualified distribution’’ 
means any distribution— 
(A) 
described 
in 
section 
401(k)(2)(B)(i)(IV), 403(b)(7)(A)(ii) (but only 
to the extent such distribution relates to finan-
cial hardship), 403(b)(11)(B), or 72(t)(2)(F), 
of the Internal Revenue Code of 1986, 
(B) received on or after the applicable 
date, and before December 31, 2024, and 
(C) which was to be used to purchase or 
construct a principal residence in the Iowa dis-
aster area. 
(3) APPLICABLE DATE.—For purposes of this 
subsection, the term ‘‘applicable date’’ means— 
(A) in the case of a qualified distribution 
received with respect to the Iowa disaster area 
described in subsection (a)(4)(B)(i), April 26, 
2024, and 
(B) in the case of a qualified distribution 
received with respect to the Iowa disaster area 
described in subsection (a)(4)(B)(ii), June 14, 
2024. 
(c) LOANS FROM QUALIFIED PLANS.— 
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(1) INCREASE IN LIMIT ON LOANS NOT TREAT-
ED
AS
DISTRIBUTIONS.—In the case of any loan 
from a qualified employer plan (as defined under 
section 72(p)(4) of the Internal Revenue Code of 
1986) to a qualified individual made during the pe-
riod beginning on the date of the enactment of this 
Act and ending on December 31, 2025— 
(A) clause (i) of section 72(p)(2)(A) of 
such Code shall be applied by substituting 
‘‘$100,000’’ for ‘‘$50,000’’, and 
(B) clause (ii) of such section shall be ap-
plied by substituting ‘‘the present value of the 
nonforfeitable accrued benefit of the employee 
under the plan’’ for ‘‘one-half of the present 
value of the nonforfeitable accrued benefit of 
the employee under the plan’’. 
(2) DELAY OF REPAYMENT.—In the case of a 
qualified individual with an outstanding loan on or 
after the qualified beginning date from a qualified 
employer plan (as defined in section 72(p)(4) of the 
Internal Revenue Code of 1986)— 
(A) if the due date pursuant to subpara-
graph (B) or (C) of section 72(p)(2) of such 
Code for any repayment with respect to such 
loan occurs during the period beginning on the 
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qualified beginning date and ending on Decem-
ber 31, 2025, such due date shall be delayed for 
1 year, 
(B) any subsequent repayments with re-
spect to any such loan shall be appropriately 
adjusted to reflect the delay in the due date 
under paragraph (1) and any interest accruing 
during such delay, and 
(C) in determining the 5-year period and 
the term of a loan under subparagraph (B) or 
(C) of section 72(p)(2) of such Code, the period 
described in subparagraph (A) shall be dis-
regarded. 
(3) QUALIFIED INDIVIDUAL.—For purposes of 
this subsection, the term ‘‘qualified individual’’ 
means an individual whose principal place of abode 
on the applicable date described in subsection 
(a)(4)(C) is located in the Iowa disaster area and 
who has sustained an economic loss by reason of se-
vere storms, flooding, straight-line winds, or torna-
does beginning on such date. 
(4) QUALIFIED
BEGINNING
DATE.—For pur-
poses of this subsection, the qualified beginning date 
is the applicable date described in subsection 
(a)(4)(C). 
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(d) PROVISIONS
RELATING
TO
PLAN
AMEND-
MENTS.— 
(1) IN GENERAL.—If this subsection applies to 
any amendment to any plan or annuity contract, 
such plan or contract shall be treated as being oper-
ated in accordance with the terms of the plan during 
the period described in paragraph (2)(B)(i). 
(2) AMENDMENTS TO WHICH SUBSECTION AP-
PLIES.— 
(A) IN
GENERAL.—This subsection shall 
apply to any amendment to any plan or annuity 
contract which is made— 
(i) pursuant to any provision of this 
section, or pursuant to any regulation 
issued by the Secretary or the Secretary of 
Labor under any provision of this section, 
and 
(ii) on or before the last day of the 
first plan year beginning on or after Janu-
ary 1, 2026, or such later date as the Sec-
retary may prescribe. 
In the case of a governmental plan (as defined 
in section 414(d) of the Internal Revenue Code 
of 1986), clause (ii) shall be applied by sub-
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stituting the date which is 2 years after the 
date otherwise applied under clause (ii). 
(B) CONDITIONS.—This subsection shall 
not apply to any amendment unless— 
(i) during the period— 
(I) beginning on the date that 
this section or the regulation de-
scribed in subparagraph (A)(i) takes 
effect (or in the case of a plan or con-
tract amendment not required by this 
section or such regulation, the effec-
tive date specified by the plan), and 
(II) ending on the date described 
in subparagraph (A)(ii) (or, if earlier, 
the date the plan or contract amend-
ment is adopted), 
the plan or contract is operated as if such plan 
or contract amendment were in effect, and 
(ii) such plan or contract amendment 
applies retroactively for such period. 
SEC. 3. TEMPORARY SUSPENSION OF LIMITATIONS ON 
CHARITABLE CONTRIBUTIONS. 
(a) IN GENERAL.—Except as otherwise provided in 
paragraph (2), subsection (b) of section 170 of the Inter-
nal Revenue Code of 1986 shall not apply to qualified con-
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tributions and such contributions shall not be taken into 
account for purposes of applying subsections (b) and (d) 
of such section to other contributions. 
(b) TREATMENT OF EXCESS CONTRIBUTIONS.—For 
purposes of section 170 of the Internal Revenue Code of 
1986— 
(1) INDIVIDUALS.—In the case of an indi-
vidual— 
(A) LIMITATION.—Any qualified contribu-
tion shall be allowed only to the extent that the 
aggregate of such contributions does not exceed 
the excess of the taxpayer’s contribution base 
(as defined in subparagraph (G) of section 
170(b)(1) of such Code) over the amount of all 
other charitable contributions allowed under 
section 170(b)(1) of such Code. 
(B) 
CARRYOVER.—If 
the 
aggregate 
amount of qualified contributions made in the 
contribution year (within the meaning of section 
170(d)(1) of such Code) exceeds the limitation 
of clause (i), such excess shall be added to the 
excess described in the portion of subparagraph 
(A) of such section which precedes clause (i) 
thereof for purposes of applying such section. 
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(2) CORPORATIONS.—In the case of a corpora-
tion— 
(A) LIMITATION.—Any qualified contribu-
tion shall be allowed only to the extent that the 
aggregate of such contributions does not exceed 
the excess of the taxpayer’s taxable income (as 
determined under paragraph (2) of section 
170(b) of such Code) over the amount of all 
other charitable contributions allowed under 
such paragraph. 
(B) CARRYOVER.—Rules similar to the 
rules of subparagraph (A)(ii) shall apply for 
purposes of this subparagraph. 
(c) EXCEPTION
TO
OVERALL
LIMITATION
ON 
ITEMIZED DEDUCTIONS.—So much of any deduction al-
lowed under section 170 of the Internal Revenue Code of 
1986 as does not exceed the qualified contributions paid 
during the taxable year shall not be treated as an itemized 
deduction for purposes of section 68 of such Code. 
(d) QUALIFIED CONTRIBUTIONS.— 
(1) IN GENERAL.—For purposes of this sub-
section, the term ‘‘qualified contribution’’ means any 
charitable contribution (as defined in section 170(c) 
of the Internal Revenue Code of 1986) if— 
(A) such contribution— 
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(i) is paid during the period beginning 
on April 24, 2024, and ending on Decem-
ber 31, 2024, in cash to an organization 
described in section 170(b)(1)(A) of such 
Code, and 
(ii) is made for relief efforts in the 
Iowa disaster area, 
(B) the taxpayer obtains from such organi-
zation contemporaneous written acknowledg-
ment (within the meaning of section 170(f)(8) 
of such Code) that such contribution was used 
(or is to be used) for relief efforts described in 
clause (i)(II), and 
(C) the taxpayer has elected the applica-
tion of this subsection with respect to such con-
tribution. 
(2) IOWA
DISASTER
AREA.—For purposes of 
paragraph (1), the term ‘‘Iowa disaster area’’ has 
the meaning given such term in section 2(a)(4)(B). 
(3) EXCEPTION.—Such term shall not include a 
contribution by a donor if the contribution is— 
(A) to an organization described in section 
509(a)(3) of the Internal Revenue Code of 
1986, or 
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(B) for the establishment of a new, or 
maintenance of an existing, donor advised fund 
(as defined in section 4966(d)(2) of such Code). 
(4) APPLICATION OF ELECTION TO PARTNER-
SHIPS AND S CORPORATIONS.—In the case of a part-
nership or S corporation, the election under sub-
paragraph (A)(iii) shall be made separately by each 
partner or shareholder. 
Æ 
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