- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
House Committee on Ways and MeansIntroducedNovember 6th, 2009
- house Committees
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Fair Disaster Tax Relief Act of 2009
To amend the Internal Revenue Code of 1986 to make certain disaster relief provisions permanent.
Fair Disaster Tax Relief Act of 2009 - Amends the Internal Revenue Code to make permanent: (1) the enhanced tax deduction for net losses incurred in federally declared disasters; (2) the $500 limit on the tax deduction for individual casualty losses; (3) expensing of certain disaster abatement and cleanup expenses; (4) the tax deduction for net operating losses attributable to a federally declared disaster; (5) eligibility for tax-exempt bond financing for repair of principal residences destroyed or damaged in a federally declared disaster; and (6) the bonus depreciation allowance for property in a disaster area.