H.R. 1340: More Homes on the Market Act

119th Congress · introduced 2025-02-13 · Taxation · Latest: Referred to the House Committee on Ways and Means.

federal

Official title

More Homes on the Market Act

Plain summary

More Homes on the Market Act This bill increases the amount of gain from the sale of a principal residence that an individual may exclude from gross income (for federal tax purposes). Under the bill, an individual may exclude from gross income gain from the sale of a principal residence of up to $500,000 (currently $250,000), and taxpayers who are married and file a joint federal income tax return may exclude up to $1 million (currently $500.000). The bill also requires these amounts to be adjusted annually for inflation.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

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A “Nay” vote

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What does this mean? (plain words)

Official text

More Homes on the Market Act

Source: Congressional Research Service summary (Introduced in House)

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Officials and money

Sponsor: Rep. Panetta, Jimmy [D-CA-19] · 159 cosponsors

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Words on this page, explained (1)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

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Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-119hr1340.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/119/hr>

Record fed-us-cong119-hr1340 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills