H.R.6958: To provide tax relief for the victims of Hurricane Ike, and for other purposes.
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Latest Update: Friday, January, 16th 2009 To provide tax relief for the victims of Hurricane Ike, and for other purposes. 9/18/2008--Introduced. Hurricane Ike Tax Relief Act of 2008 - Amends the Internal Revenue Code to provide tax benefits to individuals affected by Hurricane Ike.Makes specified provisions of the Internal Revenue Code, which currently apply only to residents of the Gulf Opportunity Zone and the Hurricane Katrina disaster area, applicable to the Hurricane Ike recovery area, including: (1) tax-exempt bond financing, the low-income housing tax credit, accelerated depreciation and increased expensing of business assets, an increase in the rehabilitation tax credit, extended carryback of net operating losses, and investment in tax credit bonds; (2) expensing of environmental remediation costs and demolition and cleanup costs; (3) tax incentives for employer-provided housing; (4) tax-free withdrawals from retirement accounts and recontributions for home purchases; (5) employer tax credits for retention [...]
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