To amend the Internal Revenue Code of 1986 to make the postponement of certain deadlines by reason of Federally declared disaster applicable to the limitation on credit or refund.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Internal Revenue Code of 1986 to make the postponement of certain deadlines by reason of Federally declared disaster applicable to the limitation on credit or refund., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H25F0D8B6052E43ACA076FF952A70AF42: 1. Short title This Act may be cited as the Disaster Tax Lookback Parity Act of 2024.
- Section H344AB210C9C8472096F4B32B5D7337A5: 2. Postponement of certain deadlines by reason of Federally declared disasters made applicable to limitation on credit or refund Section 7508A of the Internal...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Internal Revenue Code of 1986 to make the postponement of certain deadlines by reason of Federally declared disaster applicable to the limitation on credit or refund., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance
Primary Purpose
This bill, To amend the Internal Revenue Code of 1986 to make the postponement of certain deadlines by reason of Federally declared disaster applicable to the limitation on credit or refund., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMr. Murphy (for himself and Mr. Panetta) introduced the following …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
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