S 1940 · in committee · significant
READY Accounts Act
- housing
What this bill does
- Creates tax-deductible savings accounts for homeowners to pay for disaster prevention and recovery costs.
- Affects homeowners who want to save for natural disaster preparation or recovery expenses.
- Allows $4,500 annual contributions (adjusted for inflation after 2027) with tax-free withdrawals for qualified expenses.
Generated by claude-haiku-4-5
Community Threads
Started by Cosponsor
- 01
How would the $4,500 annual contribution limit affect homeowners in high-risk disaster areas versus those in lower-risk regions?
- 02
What specific disaster prevention and recovery expenses would qualify for tax-free withdrawals under this account structure?
- 03
How would these tax-deductible accounts change the distribution of disaster preparedness resources between wealthy and lower-income homeowners?
Cosponsor writes these to seed civic discussion — they aren't user posts. Sign in to reply.
Sponsor · R-FL
Rick Scott
Citizen cosponsors
0
In Congress
1/ 100
Senators cosponsoring
Introduced 2025-06-04
Joining the bill
Legislative timeline
2025-06-04 · senate · IntroReferral
Read twice and referred to the Committee on Finance.
2025-06-04 · IntroReferral
Introduced in Senate
Citizen comments
Sign in to comment on this bill.
No comments yet — be the first.