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S. 1484

BillFederalSenateIn Committee
Catastrophe Savings Accounts Act of 2009
About This Bill
Committee
Latest Action · July 21, 2009
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S7785)
Congress
111th (2009–2011)
Introduced
July 21, 2009
Cosponsors (1)
0D 1R
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Summary

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Catastrophe Savings Accounts Act of 2009 - Amends the Internal Revenue Code to create tax-exempt catastrophe savings accounts (CSAs). Allows tax-free distributions from CSAs to pay expenses resulting from a presidentially declared major disaster. Limits CSA balances to: (1) $2,000 (for individuals with homeowner insurance deductibles of not more than $1,000); and (2) the lesser of $15,000 or twice a homeowner's insurance deductible (for individuals with deductibles of more than $1,000).

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