H.R.5915 - Catastrophe Savings Accounts Act of 2010111th Congress (2009-2010)
Summary: H.R.5915 — 111th Congress (2009-2010)
Introduced in House (07/28/2010)
Catastrophe Savings Accounts Act of 2010 - 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).