US SB1281 | 2015-2016 | 114th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on May 11 2015 - 25% progression, died in committee
Action: 2015-05-11 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 11 2015 - 25% progression, died in committee
Action: 2015-05-11 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
HOME Act Helping Our Middle-Class Entrepreneurs 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.
Title
HOME Act Helping Our Middle-Class Entrepreneurs Act
Sponsors
| Sen. Tom Udall [D-NM] | Sen. John Boozman [R-AR] |
History
| Date | Chamber | Action |
|---|---|---|
| 2015-05-11 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB2310 (Same As) 2015-05-13 - Referred to the House Committee on Ways and Means.
Subjects
Business investment and capital
Housing finance and home ownership
Income tax deductions
Inflation and prices
Taxation
Housing finance and home ownership
Income tax deductions
Inflation and prices
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/114th-congress/senate-bill/1281/all-info |
| Text | https://www.congress.gov/114/bills/s1281/BILLS-114s1281is.pdf |
