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- H.R.4132
H.R.4132: Homeowners Exemption Update Act of 2007
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about taxation
- Introduced Nov. 9, 2007
- Latest Major Action Nov. 9, 2007
Bill Sponsor
Bill Cosponsors
4 (All Republicans)
Bill Summary
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.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Ways and Means.
|
|
| Nov. 9, 2007 |
Introduced in the House by Mark Steven Kirk (R-Ill.) |