This bill extends through December 31, 2023, the tax relief for individuals and businesses in presidentially-declared disaster areas declared on or after January 1, 2020.
To amend the Internal Revenue Code of 1986 to extend the time during 
   which a qualified disaster may have occurred for purposes of the 
              special rules for personal casualty losses.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. EXTENSION OF DEFINITION OF QUALIFIED DISASTER FOR PURPOSES 
              OF PERSONAL CASUALTY LOSS RULES.

    (a) In General.--Paragraph (3) of section 304(b) of the Taxpayer 
Certainty and Disaster Tax Relief Act of 2020 is amended--
            (1) by striking ``this subsection, the term'' and inserting 
        ``this subsection--
                    ``(A) In general.--The term'', and
            (2) by adding at the end the following new subparagraph:
                    ``(B) Extension.--For purposes of subparagraph (A), 
                section 301(1)(A) shall be applied by substituting 
                `December 31, 2023' for `the date which is 60 days 
                after the date of the enactment of this Act'.''.
    (b) Effective Date.--The amendments made by this section shall 
apply to areas with respect to which a major disaster was declared by 
the President under section 401 of the Robert T. Stafford Disaster 
Relief and Emergency Assistance Act on or after the date which is 60 
days after the date of the enactment of the Taxpayer Certainty and 
Disaster Tax Relief Act of 2020.
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A bill to amend the Internal Revenue Code of 1986 to extend the time during which a qualified disaster may have occurred for purposes of the special rules for personal casualty losses.
A bill to amend the Internal Revenue Code of 1986 to extend the time during which a qualified disaster may have occurred for purposes of the special rules for personal casualty losses.
Official Titles - Senate
Official Title as Introduced
A bill to amend the Internal Revenue Code of 1986 to extend the time during which a qualified disaster may have occurred for purposes of the special rules for personal casualty losses.
Sen. Cassidy, Bill