Catastrophe Savings Accounts Act of 2006
Last action on Mar 1, 2006Referred to the House Committee on Ways and Means.
Take Action
Summary
Catastrophe Savings Accounts Act of 2006 - 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).
Lifecycle of the Bill
No events recorded for this stage yet.
