118th Congress · HOUSE BILLBILL

H.R. 318 — Protecting Homeowners from Disaster Act of 2023

“To amend the Internal Revenue Code of 1986 to repeal the limitation on deductions for personal casualty losses.”

Taxation

Introduced Jan 12, 2023

Last action Jan 12, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jan 12, 2023

Step 2

Referred

Jan 12, 2023

Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill repeals the current limitation on tax deductions for personal casualty losses. Under current law, such losses are deductible in taxable years 2018-2025 only to the extent that they are attributable to a federally declared disaster.

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Jan 12, 2023

Introduced in House

Jan 12, 2023

Referred to the House Committee on Ways and Means.