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.

Nicole Malliotakis

Republican · NY · Representative

Source: Congress.gov · FEC

No cosponsors on record. Bills can pass without cosponsors — this often means the sponsor introduced the bill alone, either because it's a messaging bill, a chairman's mark, or simply early in the legislative cycle.

Referred to the House Committee on Ways and Means.

2026-05-29

Source: Congress.gov

This proposal would allow older homeowners to exclude more of their profits from taxes when they sell their primary residence during certain years, reducing the capital gains taxes they owe on the sale. The tax break would be temporary and apply only to seniors who meet specific eligibility requirements. The change would primarily benefit older Americans downsizing or relocating by letting them keep more of the money from their home sale.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 9064 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 9064 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. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 29, 2026 Ms. Malliotakis introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL 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. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. TEMPORARY INCREASE TO CAPITAL GAINS EXCLUSION FOR SALE OF A PRIMARY RESIDENCE BY A SENIOR. (a) In General.--Section 121(b) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: ``(6) Special increased exclusion for sales by certain seniors during taxable years 2027 through 2030.-- ``(A) In general.--In the case of a sale or exchange of a qualifying residence after December 31, 2026, and before January 1, 2031-- ``(i) in the case a qualifying senior who is not married on the date of such sale or exchange, paragraph (1) shall be applied by substituting `$1,000,000' for `$250,000', ``(ii) the case of married individuals who make a joint return for the taxable year of such sale or exchange, if either spouse is a qualifying senior, paragraphs (2) and (4) shall each be applied by substituting `$1,000,000' for `$500,000' each place it appears, and ``(iii) in the case of a qualifying senior who is married and makes a separate return for the taxable year of such sale or exchange, paragraph (1) shall be applied by substituting `500,000' for `$250,000.'. ``(B) Qualifying senior.--For purposes of this paragraph, the term `qualifying senior' means an individual who is at least 65 years old on the date of such sale or exchange. ``(C) Qualifying residence.--For purposes of this paragraph, the term `qualifying residence' means a principal residence that has been owned by the taxpayer (in the case of a joint return, by either spouse) for at least 25 years.''. (b) Effective Date.--The amendment made by this section shall apply to taxable years beginning after December 31, 2026. <all>

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