United States 118th Congress Status: In Committee 1 D cosponsors

S 2236 — Casualty Loss Deduction Restoration Act

Last action — Read twice and referred to the Committee on Finance.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 118th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Casualty Loss Deduction Restoration Act This bill eliminates the suspension period (2018 through 2025) for the tax deduction for personal casualty lossess and increases from $10,000 to $50,000 the limitation on allowable amount of the deduction.

Bill Text

How this bill changes current law

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AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill repeals the temporary limitation on personal casualty losses for taxable years 2018 through 2025.

  • Section 165(h)

    paragraph (5) → (5) Limitation for taxable years 2018 through 2025.--(A) In general.--In the case of an individual, the aggregate amount of any personal casualty losses allowed under subsection (a) with respect to a taxable year beginning after December 31, 2017, and before January 1, 2026, shall not exceed $50,000 for each such taxable year. (B) Exception.--Subparagraph (A) shall not apply to any personal casualty loss attributable to a Federally declared disaster (as defined in subsection (i)(5)) allowed under subsection (a).

    This change removes the existing limitation on personal casualty losses and establishes a new limit of $50,000 per taxable year for losses occurring up to 2025.

  • Section 6511(a)

    the period of limitation prescribed in section 6511(a) of the Internal Revenue Code of 1986 for the filing of such claim shall be treated as not expiring earlier than the date that is 1 year after the date of the enactment of this Act

    This ensures that taxpayers have an additional year after the bill's enactment to file claims for credit or refund related to certain casualty losses.

  • Section 6511(b)(2)

    any limitation described in section 6511(b)(2)

    This eliminates the limitation on the amount of refund or credit that can be claimed for casualty losses.

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Finance.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
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Frequently asked questions

What does S 2236 do?
Casualty Loss Deduction Restoration Act This bill eliminates the suspension period (2018 through 2025) for the tax deduction for personal casualty lossess and increases from $10,000 to $50,000 the limitation on allowable amount of the deduction.
Who sponsors S 2236?
S 2236 is sponsored by Blumenthal, Richard (Democratic).
What is the current status of S 2236?
This bill died with 118th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track S 2236?
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Last checked for changes 3 months ago · updated continuously

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