PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on General Farm Commodities and Risk Management.
Congressional Research Service
Version 00 · Introduced in House · Jun 16, 2021
Disaster Tax Relief Act of 2021
This bill sets forth tax relief provisions for taxpayers residing in a disaster zone. Specifically, the bill
allows penalty-free qualified disaster distributions from tax-exempt retirement plans up to $100,000;
allows recontributions of distributions for home purchases cancelled due to disasters;
increases to $100,000 the limit on loans from retirement plans not treated as distributions;
allows an employee retention tax credit for 40% of wages paid by employers affected by a disaster;
expands eligibility for disaster-related personal casualty losses;
allows exclusions from gross income, for income tax purposes, of amounts received from state-based catastrophe loss mitigation programs and emergency agricultural assistance;
suspends the limitation on corporate charitable contributions;
allows the Small Business Administration to award grants to accomodate extraordinary occurrences having a catastrophic impact on small business concerns; and
allows a new tax credit for 30% of qualified wildfire mitigation expenditures.
People & committees
Rep. Thompson, Mike [D-CA-5] · D–CA
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Referred to the Subcommittee on General Farm Commodities and Risk Management.
Referred to the Committee on Ways and Means, and in addition to the Committees on Small Business, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committees on Small Business, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committees on Small Business, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Jan 3, 2025. Consult Congress.gov for the current record.
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Analyze H.R.3954 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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