- Not enactedThe President has not signed this bill
- The house has not voted
- The senate has not voted
Committee on FinanceIntroducedJuly 21st, 2009
- senate Committees
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Catastrophe Savings Accounts Act of 2009
A bill to amend the Internal Revenue Code of 1986 to create Catastrophe Savings Accounts.
Catastrophe Savings Accounts Act of 2009 - 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).