Federal Disaster Tax Relief Act of 2024

Bill: 118-s-3678
Sponsor: full_name: Sen. Cassidy, Bill [R-LA]
Introduced: 2024-01-25
Policy area: Taxation
Latest action: action_date: 2024-01-25
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2024-01-25
action_desc: Introduced in Senate
text: <p><strong>Federal Disaster Tax Relief Act of 2024</strong></p><p>This bill extends rules for the treatment of certain disaster-related personal casualty losses. &nbsp;</p>

tv_txt: II 118th CONGRESS 2d Session S. 3678 IN THE SENATE OF THE UNITED STATES January 25, 2024 Mr. Cassidy (for himself and Ms. Butler ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to extend the time during which a qualified disaster may have occurred for purposes of the special rules for personal casualty losses.

1. Short title This Act may be cited as the Federal Disaster Tax Relief Act of 2024 . 2. Extension of rules for treatment of certain disaster-related personal casualty losses For purposes of applying section 304(b) of the Taxpayer Certainty and Disaster Tax Relief Act of 2020, section 301 of such Act shall be applied by substituting the Federal Disaster Tax Relief Act of 2024 for this Act each place it appears.