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house Bill H.R. 5915

Catastrophe Savings Accounts Act of 2010

bill Progress

  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      Committee on Ways and Means
    IntroducedJuly 28th, 2010

Bill Details

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Catastrophe Savings Accounts Act of 2010

Official Title

To amend the Internal Revenue Code of 1986 to create Catastrophe Savings Accounts.


Catastrophe Savings Accounts Act of 2010 - Amends the Internal Revenue Code to create tax-exempt catastrophe savings accounts (CSAs). Allows tax-free distributions from CSAs to pay expenses resulting from a presidentially declared major disaster. Limits CSA balances to: (1) $2,000 (for individuals with homeowner insurance deductibles of not more than $1,000); and (2) the lesser of $15,000 or twice a homeowner's insurance deductible (for individuals with deductibles of more than $1,000).

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