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Provides tax and retirement relief for people and organizations in areas hit by Hurricanes Helene and Milton between September 28 and November 2, 2024. Affected taxpayers may elect to compute the Earned Income Tax Credit using higher earned income from the prior year; donors and corporations may claim larger or accelerated charitable deductions for qualifying hurricane relief gifts; and eligible individuals may take penalty‑free retirement plan distributions or expanded plan loans with extended repayment and rollover options (many special deadlines run through December 31, 2025).
Referred to the House Committee on Ways and Means.
Introduced January 3, 2025 by Vernon G. Buchanan · Last progress January 3, 2025