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- H.R.396
H.R.396: Senior Assets Verification Exemption (SAVE) from Capital Gains Tax Act of 2009
About This Bill
- This bill was introduced in the 111th Congress
- This bill is primarily about taxation
- Introduced Jan. 9, 2009
- Latest Major Action Jan. 9, 2009
Bill Sponsor
Bill Summary
Senior Assets Verification Exemption (SAVE) from Capital Gains Tax Act of 2009 - Amends the Internal Revenue Code to allow a tax deduction for the qualified net capital gain of taxpayers age 65 and older. Defines "qualified net capital gain" as the lesser of: (1) net capital gain; or (2) net capital gain only from assets held for at least 15 years.
(Source: Library of Congress)
Bill Actions
Date | Description |
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Referred to the House Committee on Ways and Means.
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Jan. 9, 2009 |
Introduced in the House by Steve Cohen (D-Tenn.) |