,,ii  #aahth ,,congress  #ast ,session  
,s4 #gfd  ,,in ,,the ,,senate ,,of ,,the
 ,,united ,,states  ,march #i1 #bjbc,mr4
 ,scott of ,florida 7for himself and    
,mr4 ,rubio7 introduced the following   
bill2 which was read twice and referred 
to the ,committee on ,finance  ,a ,,bill
  ,to amend the ,internal ,revenue ,code
 of #aihf to provide special rules for  
casualty losses incurred by reason of   
,hurricane ,ian1 ,hurricane ,nicole1 and
 ,hurricane ,fiona4  #a4 ,short title   
,this ,act may be cited as the          
,hurricane ,tax ,relief ,act4  #b4 ,tax 
relief related to ,hurricane ,ian1      
,hurricane ,nicole1 and ,hurricane      
,fiona  7a7 ,definitions ,for purposes  
of this section-- 7#a7 ,hurricane ,ian  
disaster area ,the term ,hurricane ,ian 
disaster area means an area with respect
 to which a major disaster has been     
declared by the ,president before the   
date of the enactment of this section   
under section #dja of the ,robert ,t4   
,stafford ,disaster ,relief and         

,emergency ,assistance ,act by reason of
 ,hurricane ,ian4  7#b7 ,hurricane      
,nicole disaster area ,the term         
,hurricane ,nicole disaster area means  
an area with respect to which a major   
disaster has been declared by the       
,president before the date of the       
enactment of this section under section 
#dja of the ,robert ,t4 ,stafford       
,disaster ,relief and ,emergency        
,assistance ,act by reason of ,hurricane
 ,nicole4  7#c7 ,hurricane ,fiona       
disaster area ,the term ,hurricane      
,fiona disaster area means an area with 
respect to which a major disaster has   
been declared by the ,president before  
the date of the enactment of this       
section under section #dja of the       
,robert ,t4 ,stafford ,disaster ,relief 
and ,emergency ,assistance ,act by      
reason of ,hurricane ,fiona4  7b7       
,special rules for qualified            
disaster-,related personal casualty     
losses  7#a7 ,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-- 7i7 such net disaster   
loss1 and  7ii7 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 
clause 7i7 of this subparagraph7 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 subparagraph 7,c7 of

 this paragraph4  7#b7 ,net disaster    
loss ,for purposes of this subsection1  
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  7#c7         
,qualified disaster-related personal    
casualty losses ,for purposes of this   
subsection1 the term qualified          
disaster-related personal casualty      
losses means losses described in section
 #afe7;c77#c7 of the ,internal ,revenue 
,code of #aihf-- 7,a7 which arise in the
 ,hurricane ,ian disaster area on or    
after ,september #bc1 #bjbb1 and which  
are attributable to ,hurricane ,ian1    
7,b7 which arise in the ,hurricane      
,nicole disaster area on or after       
,november #g1 #bjbb1 and which are      
attributable to ,hurricane ,nicole1 or  
7,c7 which arise in the ,hurricane      
,fiona disaster area on or after        
,september #ag1 #bjbb1 and which are    

attributable to ,hurricane ,fiona4  7c7 
,application to ,puerto ,rico  7#a7 ,in 
general ,the ,secretary of the ,treasury
 shall pay to ,puerto ,rico amounts     
estimated by the ,secretary of the      
,treasury as being equal to the         
aggregate benefits that would have been 
provided to residents of ,puerto ,rico  
by reason of the provisions of this     
section if a mirror code tax system had 
been in effect in ,puerto ,rico4 ,the   
preceding sentence shall not apply with 
respect to ,puerto ,rico unless ,puerto 
,rico has a plan1 which has been        
approved by the ,secretary of the       
,treasury1 under which ,puerto ,rico    
will promptly distribute such payments  
to its residents4  7#b7 ,definition and 
special rules  7,a7 ,mirror code tax    
system ,for purposes of this subsection1
 the term mirror code tax system means1 
with respect to any possession of the   
,united ,states1 the income tax system  
of such possession if the income tax    
liability of the residents of such      

possession under such system is         
determined by reference to the income   
tax laws of the ,united ,states as if   
such possession were the ,united        
,states4  7,b7 ,treatment of payments   
,for purposes of section #acbd of title 
#ca1 ,united ,states ,code1 the payments
 under this subsection shall be treated 
in the same manner as a refund due from 
a credit provision referred to in       
subsection 7b77#b7 of such section4     
7,c7 ,coordination with ,united ,states 
income taxes ,in the case of any person 
with respect to whom a tax benefit is   
taken into account with respect to the  
taxes imposed by any possession of the  
,united ,states by reason of this       
section1 the ,internal ,revenue ,code of
 #aihf shall be applied with respect to 
such person without regard to the       
provisions of this section which provide
 such benefit4