H.R. 6459 (112th): Investment Savings Access After Catastrophes Act of 2012

Introduced:
Sep 20, 2012 (112th Congress, 2011–2013)
Sponsor:
Rep. Bill Cassidy [R-LA6]
Status:
Died (Referred to Committee)
See Instead:
This bill was re-introduced as H.R. 453 on Feb 04, 2013. See H.R. 453 for current action on this subject.

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on September 20, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Sep 20, 2012
Referred to Committee Sep 20, 2012
Cosponsors
8 cosponsors (7R, 1D) (show)
Committees

House Appropriations

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Full Title

To provide tax relief with respect to the Hurricane Isaac disaster area.

Summary

No summaries available.

Text

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Last updated Sep 20, 2012.
6 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

9/20/2012--Introduced.
Investment Savings Access After Catastrophes Act of 2012 - Defines "Hurricane Isaac disaster area" for purposes of this Act as any parish or county of Louisiana or Mississippi in an area in which a major disaster has been declared before September 10, 2012, under the Robert T. Stafford Disaster Relief and Emergency Assistance Act by reason of Hurricane Isaac. Provides for tax preferences in the Hurricane Isaac disaster area, including:
(1) suspension of limitations on the tax deduction for personal casualty losses,
(2) an extension of the carryback period for net operating losses, and
(3) tax-free distributions from a retirement plan made on or after August 26, 2012, and before September 11, 2014, to an individual whose principal place of abode on August 26, 2012, was located in the Hurricane Isaac disaster area and who sustained an economic loss due to Hurricane Isaac. Rescinds unobligated funds in an amount equal to the reduction in revenues resulting from the enactment of this Act.

House Republican Conference Summary

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House Democratic Caucus Summary

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