118th Congress Taxation
S. 3043: Natural Disaster Tax Relief Act of 2023
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill sets forth tax relief provisions for individual taxpayers for losses resulting from a major disaster occurring in 2023.
Specifically, the bill
- allows penalty-free disaster-relief withdrawals from tax-exempt retirement plans up to $100,000,
- permits recontributions of such withdrawals for home purchases or construction cancelled due to the disaster,
- increases to $100,000 the limit on loans for disaster assistance from retirement plans, and
- enhances the tax deduction for disaster-related personal casualty losses.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Brian Schatz D-HIOriginal
Who scored on this bill
No member has earned points from it yet.
See all scorers and every scoring event
Introductions and cosponsorships count toward weekly caps and show no points.
Other bills by Mazie Hirono
History
- Introduced in the Senate by Mazie Hirono.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Finance.