,i #aafth ,,congress #b;d ,session ,h4 ,r4 #hcad ,,in ,,the ,,house ,,of ,,representatives ,september #ah1 #bjbj ,ms4 ,finkenauer introduced the following bill2 which was referred to the ,committee on ,ways and ,means1 and in addition to the ,committee on ,small ,business1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to provide with respect to recent disasters an employee retention credit for employers affected by such disasters and rules for disaster-related personal casualty losses4 #a4 ,short title ,this ,act may be cited as the ,disaster ,recovery for ,economies1 ,local ,individuals1 ,employers1 and ,families ,act of #bjbj or the ,disaster ,,relief ,act4 #b4 ,definitions ,for purposes of this ,act-- 7#a7 ,qualified disaster area 7,a7 ,in general ,the term qualified disaster area means any area with respect to which a major disaster was declared1 during the period beginning on ,december #bh1 #bjai1 and ending on the date which is #fj days after the date of the enactment of this ,act1 by the ,president under section #dja of the ,robert ,t4 ,stafford ,disaster ,relief and ,emergency ,assistance ,act if the incident period of the disaster with respect to which such declaration is made begins on or before the date of the enactment of this ,act4 7,b7 ,,covid-#ai exception ,such term shall not include any area with respect to which such a major disaster has been so declared only by reason of ,,covid-#ai4 7#b7 ,qualified disaster zone ,the term qualified disaster zone means that portion of any qualified disaster area which was determined by the ,president1 during the period beginning on ,december #bh1 #bjai1 and ending on the date which is #fj days after the date of the enactment of this ,act1 to warrant individual or individual and public assistance from the ,federal ,government under the ,robert ,t4 ,stafford ,disaster ,relief and ,emergency ,assistance ,act by reason of the qualified disaster with respect to such disaster area4 7#c7 ,qualified disaster ,the term qualified disaster means1 with respect to any qualified disaster area1 the disaster by reason of which a major disaster was declared with respect to such area4 7#d7 ,incident period ,the term incident period means1 with respect to any qualified disaster1 the period specified by the ,federal ,emergency ,management ,agency as the period during which such disaster occurred 7except that for purposes of this ,act such period shall not be treated as beginning before ,december #bh1 #bjai1 or ending after the date which is #cj days after the date of the enactment of this ,act74 #c4 ,employee retention credit for employers affected by qualified disasters 7a7 ,in general ,for purposes of section #ch of the ,internal ,revenue ,code of #aihf1 in the case of an eligible employer1 the #bjbj qualified disaster employee retention credit shall be treated as a credit listed at the end of subsection 7b7 of such section4 ,for purposes of this subsection1 the #bjbj qualified disaster employee retention credit for any taxable year is an amount equal to #dj percent of the qualified wages with respect to each eligible employee of such employer for such taxable year4 ,the amount of qualified wages with respect to any employee which may be taken into account under this subsection by the employer for any taxable year shall not exceed #f1jjj 7reduced by the amount of qualified wages with respect to such employee which may be so taken into account for any prior taxable year74 7b7 ,definitions ,for purposes of this section-- 7#a7 ,eligible employer ,the term eligible employer means any employer-- 7,a7 which conducted an active trade or business in a qualified disaster zone at any time during the incident period of the qualified disaster with respect to such qualified disaster zone1 and 7,b7 with respect to whom the trade or business described in subparagraph 7,a7 is inoperable at any time during the period beginning on the first day of the incident period of such qualified disaster and ending on the date of the enactment of this ,act1 as a result of damage sustained by reason of such qualified disaster4 7#b7 ,eligible employee ,the term eligible employee means with respect to an eligible employer an employee whose principal place of employment with such eligible employer 7determined immediately before the qualified disaster referred to in paragraph 7#a77 was in the qualified disaster zone referred to in such paragraph4 7#c7 ,qualified wages ,the term qualified wages means wages 7as defined in section #ea7;c77#a7 of the ,internal ,revenue ,code of #aihf1 but without regard to section #ccjf7;b77#b77;,b7 of such ,code7 paid or incurred by an eligible employer with respect to an eligible employee at any time on or after the date on which the trade or business described in paragraph 7#a7 first became inoperable at the principal place of employment of the employee 7determined immediately before the qualified disaster referred to in such paragraph7 and before the earlier of-- 7,a7 the date on which such trade or business has resumed significant operations at such principal place of employment1 or 7,b7 the date which #aej days after the last day of the incident period of the qualified disaster referred to in paragraph 7#a74 ,such term shall include wages paid without regard to whether the employee performs no services1 performs services at a different place of employment than such principal place of employment1 or performs services at such principal place of employment before significant operations have resumed4 ,such term shall not include any wages taken into account under section #bcja of the ,coronavirus ,aid1 ,relief1 and ,economic ,security ,act4 7c7 ,special rules 7#a7 ,employee not taken into account more than once ,an employee shall not be treated as an eligible employee for purposes of this subsection for any period with respect to any employer if such employer is allowed a credit under section #ea of the ,internal ,revenue ,code of #aihf with respect to such employee for such period4 7#b7 ,denial of double benefit ,any wages taken into account in determining the credit allowed under this section shall not be taken into account as wages for purposes of sections #da1 #de;,a1 #de,p1 #de,s1 #ea1 and #acif of the ,internal ,revenue ,code of #aihf4 7#c7 ,certain other rules to apply ,for purposes of this subsection1 rules similar to the rules of sections #ea7;i77#a71 #eb1 and #bhj;,c7a71 of the ,internal ,revenue ,code of #aihf1 shall apply4 7d7 ,election ,to not take certain wages into account 7#a7 ,in general ,this section shall not apply to qualified wages paid by an eligible employer with respect to which such employer makes an election 7at such time and in such manner as the ,secretary may prescribe7 to have this section not apply to such wages4 7#b7 ,coordination with paycheck protection program ,the ,secretary1 in consultation with the ,administrator of the ,small ,business ,administration1 shall issue guidance providing that payroll costs paid or incurred during the covered period shall not fail to be treated as qualified wages under this section by reason of an election under paragraph 7#a7 to the extent that a covered loan of the eligible employer is not forgiven by reason of a decision under section #aajf7;g7 of the ,,cares ,act4 ,terms used in the preceding sentence which are also used in section #aajf of such ,act shall have the same meaning as when used in such section4 7e7 ,amendment to paycheck protection program ,section #aajf7;a77#h7 of the ,,cares ,act is amended by inserting 1 except that such costs shall not include qualified wages taken into account in determining the credit allowed under section #d of the ,disaster ,,relief ,act before the period at the end4 #d4 ,special rules for qualified disaster-related personal casualty losses 7a7 ,in general ,if an individual has a net disaster loss for any taxable year-- 7#a7 the amount determined under section #afe7;h77#b77;,a77ii7 of the ,internal ,revenue ,code of #aihf shall be equal to the sum of-- 7,a7 such net disaster loss1 and 7,b7 so much of the excess referred to in the matter preceding clause 7i7 of section #afe7;h77#b77;,a7 of such ,code 7reduced by the amount in subparagraph 7,a7 of this paragraph7 as exceeds #aj percent of the adjusted gross income of the individual1 7#b7 in the case of qualified disaster-related personal casualty losses1 section #afe7;h77#a7 of such ,code shall be applied to by substituting #ejj for #ejj 7#ajj for taxable years beginning after ,december #ca1 #bjji71 7#c7 the standard deduction determined under section #fc7;c7 of such ,code shall be increased by the net disaster loss1 and 7#d7 section #ef7;b77#a77;,e7 of such ,code shall not apply to so much of the standard deduction as is attributable to the increase under paragraph 7#c7 of this paragraph4 7b7 ,net disaster loss ,for purposes of this section1 the term net disaster loss means the excess of qualified disaster-related personal casualty losses over personal casualty gains 7as defined in section #afe7;h77#c77;,a7 of the ,internal ,revenue ,code of #aihf74 7c7 ,qualified disaster-,related personal casualty losses ,for purposes of this section1 the term qualified disaster-related personal casualty losses means losses described in section #afe7;c77#c7 of the ,internal ,revenue ,code of #aihf which arise in a qualified disaster area on or after the first day of the incident period of the qualified disaster to which such area relates1 and which are attributable to such qualified disaster4