To provide special rules for retirement accounts and personal casualty losses with respect to certain major disasters occurring in 2023.
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 provide special rules for retirement accounts and personal casualty losses with respect to certain major disasters occurring in 2023., changes federal law or congressional policy affecting workers, employers, and labor regulators. The main policy domain is Labor, Environment, Finance.
Who Benefits and How
workers, employers, and labor regulators 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, workers, employers, and labor regulators may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section HABEE024AA28B43EFBBBE922440FB351C: 1. Short title This Act may be cited as the Natural Disaster Tax Relief Act of 2023.
- Section H43352B76CF62426FBCED3F4ACF67E612: 2. Definitions For purposes of this Act— The term qualified disaster area means any area with respect to which a major disaster was declared, during calendar...
- Section HDF5B1A1A8FA84341A5A985B3F6760466: 3. Special disaster-related rules for use of retirement funds Section 72(t) of the Internal Revenue Code of 1986 shall not apply to any qualified disaster...
- Section HBB9BA87B3B2A49BDB5960B31057FC493: 4. Special rules for qualified disaster-related personal casualty losses If an individual has a net disaster loss for any taxable year— the amount determined...
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 provide special rules for retirement accounts and personal casualty losses with respect to certain major disasters occurring in 2023., changes federal law or congressional policy affecting workers, employers, and labor regulators.
Key Policy Areas
Labor, Environment, Finance
Primary Purpose
This bill, To provide special rules for retirement accounts and personal casualty losses with respect to certain major disasters occurring in 2023., changes federal law or congressional policy affecting workers, employers, and labor regulators.
Policy Domains
Whole bill
Identified Gains
- workers, employers, and labor regulators
Identified Costs
- federal implementing agencies
- workers, employers, and labor regulators
Sponsors
Legislative Progress
IntroducedMs. Hirono (for herself and Mr. Schatz) 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?
- "secretary_of_labor"
- → Secretary of Labor
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.
Learn more about our methodology