S. 3738 · 109th Congress
Nonitemizer Real Property Tax Deduction Act of 2006
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
BaucusSponsor3 cosponsors · 3 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Nonitemizer Real Property Tax Deduction Act of 2006 - Amends the Internal Revenue Code to: (1) increase the standard tax deduction for taxpayers who do not itemize tax deductions by $500 ($1,000 for joint returns) of the real property taxes paid or accrued by such taxpayers in a taxable year; (2) define economic substance for purposes of evaluating tax…
What it does: CRS summary · Introduced in Senate · Jul 26, 2006
Nonitemizer Real Property Tax Deduction Act of 2006 - Amends the Internal Revenue Code to: (1) increase the standard tax deduction for taxpayers who do not itemize tax deductions by $500 ($1,000 for joint returns) of the real property taxes paid or accrued by such taxpayers in a taxable year; (2) define economic substance for purposes of evaluating tax shelter transactions; and (3) impose a penalty for understatements of tax liability resulting from transactions lacking economic substance.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Nonitemizer Real Property Tax Deduction Act of 2006
Latest action (Jul 26, 2006): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jul 26, 2006
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.