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![handle is hein.congrecreports/crptxafye0001 and id is 1 raw text is: AUTHENTICATED
U.GOVERNMENT
INFORMATION .
118TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 118-348
FEDERAL DISASTER TAX RELIEF ACT OF 2023
JANUARY 16, 2024.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. SMITH of Missouri, from the Committee on Ways and Means,
submitted the following
R E P O R T
[To accompany H.R. 5863]
[Including cost estimate of the Congressional Budget Office]
The Committee on Ways and Means, to whom was referred the
bill (H.R. 5863) to provide tax relief with respect to certain Federal
disasters, having considered the same, reports favorably thereon
with an amendment and recommends that the bill as amended do
pass.
CONTENTS
Page
I. SUMMARY AND BACKGROUND ............................................................. 3
A. Purpose and Sum m ary ..................................................................... 3
B. Background and Need for Legislation ............................................. 3
C. Legislative History ............................................................................ 3
D. Designated Hearing ......................................................................... 3
II. EXPLANATION OF THE BILL ................................................................. 4
A. Disaster Tax Provisions (secs. 2, 3, and 4 of the bill and secs.
139 and 165 of the Code) 3 ........................................................... 4
III. VOTE OF THE COMM ITTEE ...................................................................... 7
IV. BUDGET EFFECTS OF THE BILL ........................................................... 8
A. Committee Estimate of Budgetary Effects ..................................... 8
B. Statement Regarding New Budget Authority and Tax Expendi-
tures Budget Authority .................................................................. 10
C. Cost Estimate Prepared by the Congressional Budget Office ....... 10
V. OTHER MATTERS TO BE DISCUSSED UNDER THE RULES OF
THE HOUSE .............................................................................................. 13
A. Committee Oversight Findings and Recommendations ................. 13
B. Statement of General Performance Goals and Objectives ............. 13
C. Information Relating to Unfunded Mandates ................................ 13
D. Congressional Earmarks, Limited Tax Benefits, and Limited
Tariff Benefits ................................................................................. 13
E. Tax Com plexity Analysis .................................................................. 13
F. Duplication of Federal Programs ..................................................... 13
VI. CHANGES IN EXISTING LAW MADE BY THE BILL, AS REPORTED 14
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