California Wildfire Tax Relief Act of 2007
To provide emergency tax relief for persons affected by California wildfires in October of 2007.
Other Bill Titles (2 more) 10/29/2007--Introduced.
California Wildfire Tax Relief Act of 2007 - Provides special tax treatment for taxpayers in areas affected by the California wildfires of October 2007 relating to:
(1) nonrecognition of gain from the involuntary conversion of property;
(2) limitations on charitable contributions for relief efforts;
(3) the exclusion from gross income for discharges of indebtedness;
(4) mortgage revenue bonds;
(5) limitations on personal casualty losses;
(6) additional tax exemptions for providing housing for displaced individuals;
(7) earned income calculations;
(8) dependency status for purposes of tax exemptions or the child tax credit;
(9) premature withdrawals from retirement plans;
(10) income averaging;
(11) recontributions to tax-deferred home purchase plans; and
(12) loans from tax-qualified employer plans.
... moreSee Full Bill Text
Committees
Amendments
This bill has no amendments.
Bill Status
| Introduced | ![]() | Voted on by House | ![]() | Voted on by Senate | ![]() | Considered By President | ![]() | Bill Becomes Law |
| October 29, 2007 |
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