To amend the Internal Revenue Code of 1986 to temporarily increase...
To amend the Internal Revenue Code of 1986 to temporarily increase the capital gains exclusion for any qualifying senior who sells a principal residence during a qualifying year, and for other purposes.
HB9064 proposes a temporary increase in the capital gains exclusion for seniors selling their main residence. This bill aims to benefit qualifying seniors by allowing them to exclude a larger portion of their capital gains from taxable income when they sell their principal home. This measure could potentially ease the financial burden on seniors who need to move or relocate.
The bill would primarily affect seniors who meet the criteria for the exclusion. This temporary change could help seniors avoid paying additional taxes on the profit from the sale of their home, which could be especially helpful for those on a fixed income. The specific changes and who qualifies are detailed in the bill's provisions.
As of May 29, 2026, HB9064 was introduced in the House and referred to the House Committee on Ways and Means. This means the bill is in the early stages of consideration, and the committee will review it before any further action takes place. There have been no significant actions or decisions on the bill so far.
