H.R. 6683 (112th): Hurricane Sandy Tax Relief Act of 2012

Introduced:
Dec 19, 2012 (112th Congress, 2011–2013)
Status:
Died (Referred to Committee)
Sponsor
Bill Pascrell Jr.
Representative for New Jersey's 8th congressional district
Party
Democrat
Text
Read Text »
Last Updated
Dec 19, 2012
Length
50 pages
Related Bills
H.R. 2137 (113th) was a re-introduction of this bill in a later Congress.

Referred to Committee
Last Action: May 23, 2013

 
Status

This bill was introduced on December 19, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Dec 19, 2012
Referred to Committee Dec 19, 2012
 
 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

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.


12/19/2012--Introduced.
Hurricane Sandy Tax Relief Act of 2012 - Amends the Internal Revenue Code to provide tax benefits for individuals and businesses affected by Hurricane Sandy, including:
an exemption from the gross income limitation for deducting casualty losses attributable to Hurricane Sandy; expensing allowances for Hurricane Sandy disaster expenses, disaster assistance property, and environmental remediation expenses; treatment of losses attributable to Hurricane Sandy as net operating losses; suspension of mortgage revenue bond requirements for residences located in the Hurricane Sandy disaster area; an increased charitable tax deduction for Hurricane Sandy disaster relief contributions; a special allocation of the new markets tax credit for investments in community development entities serving the disaster area; special adjustments to the earned income tax credit and the child tax credit for individuals living in the disaster area; a work opportunity tax credit for hiring employees residing in the disaster area; authorization for issuance of Hurricane Sandy bonds to finance disaster relief projects; and an additional allocation of low-income housing credits in states affected by Hurricane Sandy.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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