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Bill > HR3287
US HR3287
TREAD Act Tax Relief and Expedited Assistance for Disasters Act of 2019
summary
Introduced
06/13/2019
06/13/2019
In Committee
06/13/2019
06/13/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
TREAD Act TREAD Act Tax Relief and Expedited Assistance for Disasters Act of 2019 Tax Relief and Expedited Assistance for Disasters Act of 2019 This bill provides tax relief for qualified disaster areas (i.e., an area, excluding a California wildfire disaster area, for which a major disaster was declared on or after January 1, 2018). Specifically, the bill provides for distributions and loans from retirement plans for disaster assistance, a tax credit for wages paid by employers in a qualified disaster area, a temporary suspension of limitations on the deductibility of charitable contributions, and an automatic extension of filing deadlines for taxpayers affected by disasters.
AI Summary
This bill, the Tax Relief and Expedited Assistance for Disasters Act of 2019 or the TREAD Act, provides tax relief for areas affected by major disasters declared on or after January 1, 2018, excluding the California wildfire disaster area. The key provisions include allowing distributions and loans from retirement plans for disaster assistance, a tax credit for wages paid by employers in a qualified disaster area, a temporary suspension of limitations on the deductibility of charitable contributions, and an automatic 60-day extension of filing deadlines for affected taxpayers.
Committee Categories
Budget and Finance
Sponsors (22)
Tom Rice (R)*,
Jodey Arrington (R),
Andy Barr (R),
Mike Bost (R),
Ted Budd (R),
Warren Davidson (R),
Neal Dunn (R),
Drew Ferguson (R),
Matt Gaetz (R),
Paul Gosar (R),
Morgan Griffith (R),
Kevin Hern (R),
Duncan Hunter (R),
Mike Kelly (R),
Alex Mooney (R),
Pete Olson (R),
Steven Palazzo (R),
Austin Scott (R),
Chris Stewart (R),
William Timmons (R),
Joe Wilson (R),
Ted Yoho (R),
Last Action
Referred to the House Committee on Ways and Means. (on 06/13/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
---|---|
State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/3287/all-info |
BillText | https://www.congress.gov/116/bills/hr3287/BILLS-116hr3287ih.pdf |
Bill | https://www.congress.gov/116/bills/hr3287/BILLS-116hr3287ih.pdf.pdf |
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