H.R. 6261, The Midwest Storm Victim Relief Act of 2008

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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H.R. 6261 would increase the maximum amount of financial assistance that an individual or household is eligible to receive under the Robert T. Stafford Disaster Relief and Emergency Assistance Act in connection with recent storm damage and flooding in the Midwest.

Detailed Summary

Midwest Storm Victim Relief Act of 2008 - Directs the President, in providing financial assistance to individuals and households in connection with major disasters declared for storm damage and flooding in Indiana, Iowa, Minnesota, and Wisconsin from May 26-June 15, 2008, to double the maximum assistance available under the Robert T. Stafford Disaster Relief and Emergency Assistance Act.

Amends the Internal Revenue Code to suspend certain limitations on personal casualty losses attributable to major disasters declared for such storm damage and flooding. Excludes from gross income, for purposes of the Code, any amount received as compensation for a loss for which a deduction is allowed by reason of such a declaration if such compensation is received in a subsequent taxable year.

Status of the Legislation

Latest Major Action: 6/13/2008: Referred to House subcommittee. Status: Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.

Points in Favor

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Points Against

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