Small Business Emergency Savings Accounts Act of 2020

United States116th CongressHR-8656House of Representatives
Updated: Oct 23, 2020

Summary

Small Business Emergency Savings Accounts Act of 2020 This bill allows a new tax deduction from gross income for amounts paid into a small business emergency savings account. Such savings accounts are established exclusively to pay the qualified disaster and public health emergency expenses of the account beneficiary. The bill defines qualified disaster and public health emergency expenses as disaster loss replacement expenses, disaster recovery operations expenses, and public health emergency expenses.

Bill texts

Available versions
Introduced (House)View official text

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Timeline

  1. Introduced in House

  2. Referred to the House Committee on Ways and Means.

    House of Representatives

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