S. 2634: National Disaster Tax Relief Act of 2014
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S. 2634: National Disaster Tax Relief Act of 2014
113th Congress · introduced 2014-07-22 · Taxation · Latest: Read twice and referred to the Committee on Finance.
federal
Follow this bill, step by step
- Where it came from: introduced 2014-07-22 · official record
- Who proposed it: Sen. Pryor, Mark L. [D-AR] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Read twice and referred to the Committee on Finance. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
National Disaster Tax Relief Act of 2014
Plain summary
National Disaster Tax Relief Act of 2014 - Amends the Internal Revenue Code to provide tax relief for disasters declared in 2012, 2013, and 2014 by: extending through 2014 the election to expense qualified disaster expenses (i.e., for removal of debris, demolition, and repair of business-related property); increasing the tax deduction for charitable contributions for disaster relief for individual and corporate taxpayers; allowing through 2014 the deduction of losses attributable to disasters; allowing waivers of requirements relating to mortgage revenue bonds; extending through 2014 the additional allowance for depreciation of business property (bonus depreciation); allowing an increase through 2016 of the new markets tax credit limitation amount within a federally-declared disaster area; permitting the use of tax-exempt retirement plan funds in federally-declared disasters without penalty; allowing an additional tax exemption for individuals who are displaced as a result of a federally-declared disaster; allowing an exclusion from gross income of imputed income from the cancellation of indebtedness resulting from federally-declared disasters; providing a special rule to allow individuals affected by a disaster in 2012, 2013, or 2014 to claim a full earned income tax credit; increasing the rehabilitation tax credit for buildings affected by a federally-declared disaster; permitting one additional advance refunding of a tax-exempt bond that is outstanding on the date on which a federally-declared disaster occurs; allowing the issuance of qualified disaster area recovery bonds; allowing an additional allocation of the low-income housing tax credit in 2015 to states affected by a federally-declared disaster occurring in 2012 2013, or 2014; allowing payments of disaster assistance to tax-exempt mutual ditch or irrigation companies without affecting their tax-exempt status; allowing an exclusion from gross income for disaster mitigation payments received from state and local governments; and allowing a tax deduction for payments to a tax-exempt natural disaster fund.
Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.
What a vote does
A “Yea” vote
If it passes both chambers and is signed, it becomes law.
A “Nay” vote
If it is not passed, current law stays as it is.
PSI Sci description of the legislative step (not an opinion).
What does this mean? (plain words)
Official text
National Disaster Tax Relief Act of 2014
Source: Congressional Research Service summary (Introduced in Senate)
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The strongest published arguments
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Sen. Pryor, Mark L. [D-AR] · 10 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Charles E. Schumer (D-NY), Michael F. Bennet (D-CO), Kirsten E. Gillibrand (D-NY), Cory A. Booker (D-NJ)
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (3)
- Bond
- A way to borrow money. A government sells bonds to raise money now and promises to pay it back with interest over time. Bonds repaid from taxes often need voter approval.
- Exemption
- A rule that removes certain people, property or activities from a tax or requirement.
- Rulemaking
- The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in Senate)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113s2634.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/s>
Record fed-us-cong113-s2634 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113