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Tax Relief for Losses Caused by Hurricanes Ian, Nicole, and Fiona.

This bill establishes special tax rules for individuals who suffered property losses due to Hurricanes Ian, Nicole, and Fiona in designated disaster areas. It allows affected citizens to deduct these casualty losses without meeting the usual high income threshold (10% of AGI). Furthermore, taxpayers claiming the standard deduction can increase it by the amount of their disaster loss, ensuring relief for more people.
Key points
Easier deduction of property losses related to Hurricanes Ian, Nicole, and Fiona by waiving the requirement to exceed 10% of adjusted gross income (AGI).
Taxpayers using the standard deduction can increase it by the amount of the disaster loss, ensuring relief for those who do not itemize deductions.
Financial support mechanism established for residents of Puerto Rico to receive benefits equivalent to the tax relief provided by this Act.
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Expired
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Additional Information
Print number: 118_S_764
Sponsor: Sen. Scott, Rick [R-FL]
Process start date: 2023-03-09
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Hurricane Tax Relief Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_764.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-03-09.

What are the main provisions?

Key points include:

  • Easier deduction of property losses related to Hurricanes Ian, Nicole, and Fiona by waiving the requirement to exceed 10% of adjusted gross income (AGI).
  • Taxpayers using the standard deduction can increase it by the amount of the disaster loss, ensuring relief for those who do not itemize deductions.
  • Financial support mechanism established for residents of Puerto Rico to receive benefits equivalent to the tax relief provided by this Act.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Scott, Rick [R-FL].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

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