Fair Disaster Tax Relief Act of 2009

Fair Disaster Tax Relief Act of 2009 - Amends the Internal Revenue Code to make permanent: (1) the enhanced tax deduction for net losses incurred in federally declared disasters; (2) the $500 limit on the tax deduction for individual casualty losses; (3) expensing of certain disaster abatement and cleanup expenses; (4) the tax deduction for net operating losses attributable to a federally declared disaster; (5) eligibility for tax-exempt bond financing for repair of principal residences destroyed or damaged in a federally declared disaster; and (6) the bonus depreciation allowance for property in a disaster area.