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- S.1281
S.1281: HOME Act
About This Bill
- Introduced May 11, 2015
- Latest Major Action May 11, 2015
- See the two similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsor
Bill Summary
Helping Our Middle-Class Entrepreneurs Act or the HOME Act Amends the Internal Revenue Code to allow a taxpayer who uses a residence to conduct a trade or business a standard tax deduction equal to the lesser of $1,500 or the taxpayer's gross trade or business income derived from the business use of such residence. Provides for an inflation adjustment to the standard deduction amount in calendar years beginning after 2015.
(Source: Library of Congress)
Bill Actions
Date | Description |
---|---|
May 11, 2015 |
Read twice and referred to the Committee on Finance.
|
May 11, 2015 |
Introduced in the Senate by Tom Udall (D-N.M.) |