Definition: In this task, you are given a summary for US Congressional and California state bill, your task is to generate a Title for this bill. The preferred titles are under forty words and mention the purpose of the bill.
Input: Fair Disaster Tax Relief Act of 2008 - Amends the Internal Revenue Code to provide special tax rules for individuals affected by a federally declared disaster, including: (1) allowance of all personal casualty losses incurred in a federally declared disaster in excess of $500; (2) an increase in the standard tax deduction for disaster losses; (3) full expensing of business-related disaster cleanup expenses; (4) extension of the net operating loss carryback period from two to five years for disaster-related losses; and (5) allowance of tax-exempt bond financing of low-interest loans for principal residences damaged in a federally declared disaster.
Output:
To amend the Internal Revenue Code of 1986 to provide relief in the case of federally declared disasters.