A bill to amend the Internal Revenue Code of 1986 to provide special rules for casualty losses incurred by reason of Hurricane Ian, Hurricane Nicole, and Hurricane Fiona.
Hurricane Tax Relief Act
This bill modifies tax rules relating to personal casualty losses for taxpayers affected by Hurricanes Ian, Nicole, and Fiona. It eliminates the requirements that such taxpayers must itemize their tax deductions as a condition of eligibility for relief and that their losses exceed 10% of their adjusted gross income. The bill applies these modified requirements to residents of Puerto Rico affected by the Hurricanes.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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