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Disaster RELIEF Act

USA116th CongressHR-8314| House 
| Updated: 9/18/2020
Abby Finkenauer

Abby Finkenauer

Democratic Representative

Iowa

Small Business Committee, Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Disaster Recovery for Economies, Local Individuals, Employers, and Families Act of 2020 or the Disaster RELIEF Act This bill provides tax relief measures for individual and business taxpayers in qualified disaster areas during a specified period, other than areas for which a disaster has been declared solely by reason of COVID-19 (i.e., coronavirus disease 2019). Specifically, the bill provides employers in a disaster area a tax credit designed to retain employees by allowing a credit for 40% of their employee wages, not exceeding $6,000 for each employee. It also allows an enhanced tax deduction for personal casualty losses incurred in a disaster area.
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Timeline
Sep 18, 2020
Introduced in House
Sep 18, 2020
Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
  • September 18, 2020
    Introduced in House


  • September 18, 2020
    Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Taxation

Related Bills

  • HR 116-8440: Disaster Tax Relief Act of 2020
Business expensesDisaster relief and insuranceIncome tax creditsIncome tax deductionsWages and earnings

Disaster RELIEF Act

USA116th CongressHR-8314| House 
| Updated: 9/18/2020
Disaster Recovery for Economies, Local Individuals, Employers, and Families Act of 2020 or the Disaster RELIEF Act This bill provides tax relief measures for individual and business taxpayers in qualified disaster areas during a specified period, other than areas for which a disaster has been declared solely by reason of COVID-19 (i.e., coronavirus disease 2019). Specifically, the bill provides employers in a disaster area a tax credit designed to retain employees by allowing a credit for 40% of their employee wages, not exceeding $6,000 for each employee. It also allows an enhanced tax deduction for personal casualty losses incurred in a disaster area.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Sep 18, 2020
Introduced in House
Sep 18, 2020
Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
  • September 18, 2020
    Introduced in House


  • September 18, 2020
    Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Abby Finkenauer

Abby Finkenauer

Democratic Representative

Iowa

Small Business Committee, Ways and Means Committee

Taxation

Related Bills

  • HR 116-8440: Disaster Tax Relief Act of 2020
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Business expensesDisaster relief and insuranceIncome tax creditsIncome tax deductionsWages and earnings