PANAMA CITY, Fla. (WJHG/WECP) - At Wednesday's Bay County Commission meeting, commissioners agreed to sign a resolution endorsing a bill co-sponsored by Congressman Neal Dunn.
The bill was created by Congressman Tom Rice of South Carolina and introduced to Congress on February 11. It would allow hurricane victims to tap into their 401K or IRA plans. The untaxed money could then be put back in years later... all without penalties.
But until the bill is officially passed, garnering support for the legislation is crucial.
"We would encourage all cities, chambers of commerce, business community, everybody to get behind because we need all the relief that we can get--whether it's tax dollars, whether it's tax relief, federal dollars. So every bit of it is important. We've got to get it from multiple hats," says Robert Carroll, Bay County Commissioner.
Congressman Dunn's office says they hope to have the bill passed in the coming months.