H.R.6261 - Midwest Storm Victim Relief Act of 2008110th Congress (2007-2008)
|Sponsor:||Rep. Hill, Baron P. [D-IN-9] (Introduced 06/12/2008)|
|Committees:||House - Transportation and Infrastructure; Ways and Means|
|Latest Action:||House - 06/13/2008 Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management. (All Actions)|
This bill has the status Introduced
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Summary: H.R.6261 — 110th Congress (2007-2008)All Information (Except Text)
Introduced in House (06/12/2008)
Midwest Storm Victim Relief Act of 2008 - Directs the President, in providing financial assistance to individuals and households in connection with major disasters declared for storm damage and flooding in Indiana, Iowa, Minnesota, and Wisconsin from May 26-June 15, 2008, to double the maximum assistance available under the Robert T. Stafford Disaster Relief and Emergency Assistance Act.
Amends the Internal Revenue Code to suspend certain limitations on personal casualty losses attributable to major disasters declared for such storm damage and flooding. Excludes from gross income, for purposes of the Code, any amount received as compensation for a loss for which a deduction is allowed by reason of such a declaration if such compensation is received in a subsequent taxable year.