House Bill 1270
118th Congress(2023-2024)
To exclude certain amounts relating to compensating victims of the East Palestine train derailment, and for other purposes.
Introduced
Introduced in House on Mar 1, 2023
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
1270
Congress
118
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No House votes have been held for this bill.
Summary
This bill excludes from gross income, for income tax purposes, compensation received by individuals and businesses for losses resulting from the East Palestine, Ohio train derailment on February 3, 2023. This includes lost business income paid by a federal, state, or local government agency, Norfolk Southern Railway, or any subsidiary, insurer, or agent of the railway, or any related person.
March 1, 2023
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03/01/2023
Referred to the House Committee on Ways and Means.
03/01/2023
Introduced in House
Public Record
Record Updated
Mar 18, 2024 9:24:06 PM