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- S.3115
S.3115: Catastrophe Savings Accounts Act of 2006
About This Bill
- This bill was introduced in the 109th Congress
- This bill is primarily about emergency management
- Introduced May 25, 2006
- Latest Major Action May 26, 2006
- See the two similar bills introduced in other congresses.
Bill Sponsor
Bill Summary
Catastrophe Savings Accounts Act of 2006 - Amends the Internal Revenue Code to create tax-exempt catastrophe savings accounts (CSAs). Allows tax-free distributions from CSAs to pay expenses resulting from a presidentially declared major disaster. Limits CSA balances to: (1) $2,000 (for individuals with homeowner insurance deductibles of not more than $1,000); and (2) the lesser of $15,000 or twice a homeowner's insurance deductible (for...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
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Read twice and referred to the Committee on Finance.
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Sponsor introductory remarks on measure.
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| May 25, 2006 |
Introduced in the Senate by Bill Nelson (D-Fla.) |