The Katrina Emergency Tax Relief Act of 2005, P.L. 109-73 , provides tax relief that is intended to assist the victims of Hurricane Katrina. The act also suspends the overall limitation on itemized deductions for individuals. Section 402 waives the $100 and 10% floors for casualty losses from Hurricane Katrina.
On September 23, 2005, President Bush signed the Katrina Emergency Tax Relief Act of 2005 (KETRA; H.R. 3768 ) into law, P.L. 109-73 . It primarily contains temporary tax relief intended to directly and indirectly assist individuals in recovering from Hurricane Katrina. The provisions cover a variety of areas, including work credits, charitable giving, and casualty losses. This report summarizes the act.