Small Business Emergency Savings Accounts Act of 2021
- Last Action
- 3/1/2021
Actions
- 2021-03-01Referred to the House Committee on Ways and Means.
- 2021-03-01Introduced in House
- 2021-03-01Introduced in House
CRS Summary
As of 2021-03-01 (00)
Small Business Emergency Savings Accounts Act of 2021
This bill allows a new tax deduction from gross income for amounts paid into a small business emergency savings account. Such savings accounts are established exclusively to pay the qualified disaster and public health emergency expenses of the account beneficiary.
The bill defines qualified disaster and public health emergency expenses as disaster loss replacement expenses, disaster recovery operations expenses, and public health emergency expenses.
Cosponsors (3)
- Ashley Hinson (R-IA)
- Doug LaMalfa (R-CA)
- Burgess Owens (R-UT)
Sourced from Congress.gov (public domain).
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