Hurricane Katrina Tax Relief Act of 2005

Bill: 109-s-1696
Sponsor: Sen. Grassley, Chuck [R-IA]
Introduced: 2005-09-13 in the Senate
Policy area: Taxation
Subjects: Administrative fees
Administrative procedure
Agriculture and Food
Alabama
Annuities
Armed Forces and National Security
Armed forces reserves
Arts, Culture, Religion
Automobiles
Books
Business travel
Charitable contributions
Charities
Civil service retirement
Commerce
Corporation taxes
Debt
Department of the Treasury
Disaster relief
Displaced persons
Economics and Public Finance
Education
Elementary and secondary education
Emergency Management
Emergency housing
Excise tax
Federal-state relations
Finance and Financial Sector
Floods
Food relief
Government Operations and Politics
Home ownership
Housing and Community Development
Housing finance
Hurricane aftermath legislation
Hurricanes
Income tax
Individual retirement accounts
Inventories
Labor and Employment
Law
Loans
Losses
Louisiana
Mississippi
Mortgages
National Guard
Social Welfare
Social security taxes
Tax administration
Tax credits
Tax deductions
Tax exclusion
Tax exemption
Tax penalties
Tax returns
Tax-deferred compensation plans
Tax-exempt organizations
Tax-exempt securities
Teaching materials
Transportation and Public Works
Travel costs
Trusts and trustees
Unemployment
Wages
Withholding tax

Summary:
action_date: 2005-09-13
text: 
Hurricane Katrina Tax Relief Act of 2005 - Amends the Internal Revenue Code to provide tax relief to Hurricane Katrina victims, including by: (1) permitting penalty-free withdrawals from tax-exempt retirement accounts for disaster relief; (2) allowing certain tax credits for employers and employees affected by Hurricane Katrina; (3) increasing, between August 28 and December 31, 2005, the limitation on individual and corporate charitable cash contributions; (4) permitting tax-free distributions from individual retirement accounts for charitable purposes relating to Hurricane Katrina disaster relief; (5) allowing individuals (in addition to corporations) to claim a tax deduction for charitable contributions of food inventories; (6) allowing an additional personal tax exemption for the housing of individuals displaced by Hurricane Katrina; (7) increasing the standard mileage rate for the tax deduction for charitable usage of a passenger automobiles; (8) excluding from gross income cancellation of certain indebtedness owned by Hurricane Katrina victims; (9) suspending limitations on casualty losses incurred by Hurricane Katrina victims; and (10) authorizing the Secretary of the Treasury to disclose to state officials information concerning the tax status of certain charitable organizations. 


Legislative actions:
action_date: 2005-09-15
text: Ordered placed on Senate Legislative Calendar under General Orders. Calendar No. 212.
action_date: 2005-09-15
text: Senate vitiated previous action (ordered held at desk) by Unanimous Consent. (consideration: CR S10147)
action_date: 2005-09-15
text: Senate vitiated previous passage.
action_date: 2005-09-15
text: Ordered held at desk.
action_date: 2005-09-15
text: Passed Senate with an amendment by Unanimous Consent.
action_date: 2005-09-15
text: Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.
action_date: 2005-09-15
text: Measure laid before Senate by unanimous consent. (consideration: CR S10066-10067)
action_date: 2005-09-15
text: Senate Committee on Finance discharged by Unanimous Consent.
action_date: 2005-09-15
text: Senate Committee on Finance discharged by Unanimous Consent.
action_date: 2005-09-15
text: Sponsor introductory remarks on measure. (CR S10066)
action_date: 2005-09-14
text: Sponsor introductory remarks on measure. (CR S10031)
action_date: 2005-09-13
text: Read twice and referred to the Committee on Finance.
action_date: 2005-09-13
text: Introduced in Senate