H.R. 4132 · 110th Congress
Homeowners Exemption Update Act of 2007
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
KirkSponsor4 cosponsors · 4 R
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Homeowners Exemption Update Act of 2007 - Amends the Internal Revenue Code to increase to $500,000 the amount of gain from the sale or exchange of a principal residence that may be excluded from gross income for income tax purposes.
What it does: CRS summary · Introduced in House · Nov 9, 2007
Homeowners Exemption Update Act of 2007 - Amends the Internal Revenue Code to increase to $500,000 the amount of gain from the sale or exchange of a principal residence that may be excluded from gross income for income tax purposes. Allows a $1 million exclusion for married taxpayers filing a joint tax return who meet certain residential use and ownership requirements.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Homeowners Exemption Update Act of 2007
Latest action (Nov 9, 2007): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Nov 9, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.