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H.R.453: Investment Savings Access After Catastrophes Act of 2013

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about taxation
You can read the bill
Sponsor Bill Cassidy, R-La.
Total Cosponsors 2 (All Republicans)
Introduced Feb. 4, 2013
Latest Major Action Feb. 4, 2013
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See it on C-SPAN

Bill Progress

  • Bill introduced in the House   
  • Bill passed in the House   
  • Bill passed in the Senate   
  • Bill signed into law

Bill Summary

Investment Savings Access After Catastrophes Act of 2013 - 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 ena...

(Source: Congressional Research Service)

Bill Actions

Date Description
Feb. 4, 2013 Referred to House Appropriations
Feb. 4, 2013 Referred to House Ways and Means