Section 1 Extension of definition of qualified disaster for purposes of personal casualty loss rules
In general— Paragraph (3) of section 304(b) of the Taxpayer Certainty and Disaster Tax Relief Act of 2020 is amended—
by striking “this subsection, the term” and inserting “this subsection—
“(A) In general—The term”
by adding at the end the following new subparagraph:
“(B) Extension—For purposes of subparagraph (A), section 301(1)(A) shall be applied by substituting “December 31, 2023” for “the date which is 60 days after the date of the enactment of this Act”.”
Effective date— The amendments made by this section shall apply to areas with respect to which a major disaster was declared by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act on or after the date which is 60 days after the date of the enactment of the Taxpayer Certainty and Disaster Tax Relief Act of 2020.