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US S617

US S617
Tax Extender and Disaster Relief Act of 2019


summary

Introduced
02/28/2019
In Committee
Crossed Over
Passed
Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

A bill to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, to provide disaster tax relief, and for other purposes. This bill extends certain tax credits and deductions expiring in 2018 and 2019, and provides disaster tax relief, including penalty-free withdrawal of retirement funds for disaster expenses.

AI Summary

This bill extends certain tax credits and deductions expiring in 2018 and 2019, and provides disaster tax relief, including penalty-free withdrawal of retirement funds for disaster expenses. The bill extends provisions related to nonbusiness energy property, fuel cell motor vehicles, alternative fuel refueling property, 2-wheeled plug-in electric vehicles, second generation biofuel, biodiesel and renewable diesel, renewable electricity production, Indian coal facilities, railroad track maintenance, energy efficient homes and commercial buildings, and various other business incentives. It also provides disaster-related tax relief, such as allowing for penalty-free withdrawals from retirement plans, recontributions of withdrawals for home purchases, increased loan limits from qualified plans, and special rules for determining earned income and casualty losses.

Sponsors (2)

Last Action

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 28. (on 03/04/2019)

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