S. 3601 (112th): Investment Savings Access After Catastrophes Act of 2012

Introduced:
Sep 20, 2012 (112th Congress, 2011–2013)
Status:
Died (Referred to Committee)
Sponsor
David Vitter
Junior Senator from Louisiana
Party
Republican
Text
Read Text »
Last Updated
Sep 20, 2012
Length
6 pages
Related Bills
S. 93 (113th) was a re-introduction of this bill in a later Congress.

Referred to Committee
Last Action: Jan 23, 2013

H.R. 6459 (identical)

Referred to Committee
Last Action: Sep 20, 2012

 
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
 
Full Title

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

Summary

No summaries available.

Cosponsors
1 cosponsors (1D) (show)
Committees

Senate Finance

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

 
Primary Source

THOMAS.gov (The Library of Congress)

GovTrack gets most information from THOMAS, which is updated generally one day after events occur. Activity since the last update may not be reflected here. Data comes via the congress project.

Widget

Get a bill status widget for your website »

Citation

Click a format for a citation suggestion:

Notes

S. stands for Senate 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

We don’t have a summary available yet.

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

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

The House Democratic Caucus does not provide summaries of bills.

So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.

We’ll be looking for a source of summaries from the other side in the meanwhile.

Use the comment space below for discussion of the merits of S. 3601 (112th) with other GovTrack users.
Your comments are not read by Congressional staff.

comments powered by Disqus