S. 1907: National Disaster Tax Relief Act of 2017

115th Congress · introduced 2017-10-03 · Taxation · Latest: Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S6289-6290)

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Where it came from: introduced 2017-10-03 · official record
Who proposed it: Sen. Nelson, Bill [D-FL] · 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. (Sponsor introductory remarks on measure: CR S6289-6290) 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.

What does this mean?

Official title

National Disaster Tax Relief Act of 2017

Plain summary

National Disaster Tax Relief Act of 2017 This bill amends the Internal Revenue Code to modify various tax deductions, credits, and requirements that affect disaster areas and U.S. possessions. With respect to areas in which a federally declared disaster occurred from 2012 through 2022, the bill allows: expensing of certain disaster expenses, modifications to rules regarding the deduction of losses attributable to disasters, additional new markets tax credits, an exclusion from gross income for certain cancellations of indebtedness, additional advance refundings of certain tax-exempt bonds, and additional low-income housing tax credit allocations. The bill permanently: (1) excludes from gross income disaster mitigation payments received from state and local governments, and (2) allows taxpayers to create tax-exempt catastrophe savings accounts to pay expenses related to a major disaster. With respect to U.S. possessions, the bill: repeals the limitation on the amount of distilled spirits excise taxes covered over (paid) to the treasuries of the Virgin Islands and Puerto Rico, makes permanent the tax deduction for income attributable to domestic production activities in Puerto Rico, modifies the rules for claiming the refundable portion of the child tax credit, and requires the Department of the Treasury to make payments to certain U.S. possessions to either compensate for revenue lost due to specified provisions in the bill or allow residents to benefit from the provisions.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

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What does this mean? (plain words)

Official text

National Disaster Tax Relief Act of 2017

Source: Congressional Research Service summary (Introduced in Senate)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Nelson, Bill [D-FL] · 0 cosponsors

Cost estimate: No cost estimate published yet.

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)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
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.
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-115s1907.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/115/s>

Record fed-us-cong115-s1907 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115