S. 4621: 2020 Disasters Tax Relief Act

116th Congress · introduced 2020-09-17 · Taxation · Latest: Read twice and referred to the Committee on Finance.

federal

Follow this bill, step by step

Where it came from: introduced 2020-09-17 · official record
Who proposed it: Sen. Wyden, Ron [D-OR] · 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.

What does this mean?

Official title

2020 Disasters Tax Relief Act

Plain summary

2020 Disasters Tax Relief Act This bill sets forth tax relief provisions for individual and business taxpayers residing in a disaster zone during the period beginning on January 1, 2020, and ending 60 days after the enactment of this bill. Specifically, the bill allows penalty-free disaster-relief withdrawals from tax-exempt retirement plans up to $100,000, permits recontributions of such withdrawals for home purchases cancelled due to disasters, increases to $100,000 the limit on loans for disaster assistance from retirement plans, allows employers affected by a disaster a 40% tax credit for the purpose of retaining employees, enhances the tax deduction for disaster-related personal casualty losses, permits the calculation of the earned income tax credit based upon income earned prior to 2020, increases low-income housing tax credit allocations, reimburses U.S. possessions for losses sustained due to the application of the provisions of this bill.

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

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A “Nay” vote

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What does this mean? (plain words)

Official text

2020 Disasters Tax Relief Act

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. Wyden, Ron [D-OR] · 5 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Jeff Merkley (D-OR), Patty Murray (D-WA), Maria Cantwell (D-WA)

Sponsor's campaign money: Sen. Wyden, Ron [D-OR] reported raising $1.9 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

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 (1)

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).

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-116s4621.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/116/s>

Record fed-us-cong116-s4621 · catalog fed-us-congress-bills-cong116 · updated 2026-11-15 by psicol fed-bills-cong116