US Congress House Bill 4696 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Democrat 6-1)
Status: Introduced on March 3 2016 - 25% progression, died in committee
Action: 2016-03-03 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

HOME Act Helping Our Middle-Income Earners Act This bill amends the Internal Revenue Code to allow individual taxpayers an income-based tax deduction, up to $5,000, for qualified homeowners association assessments paid during the taxable year. The bill defines "qualified homeowners association assessments" as regularly occurring, mandatory financial assessments: (1) that are paid by a taxpayer to a homeowners association for the taxpayer's principal residence, (2) that directly benefit such residence, and (3) that arise from the taxpayer's mandatory and automatic membership in such association. The bill requires homeowners associations to file an informational return that sets forth the name, address, and taxpayer identification number of a taxpayer from whom the association receives assessments and the amount of such assessments.

HOME Act Helping Our Middle-Income Earners Act

Rep. Anna Eshoo [D-CA]	Rep. Mike Thompson [D-CA]	Rep. Barbara Comstock [R-VA]	Rep. Alan Lowenthal [D-CA]
Rep. John Larson [D-CT]	Rep. Eleanor Norton [D-DC]	Rep. Zoe Lofgren [D-CA]

Date	Chamber	Action
2016-03-03	House	Referred to the House Committee on Ways and Means.
2016-03-03	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/4696/all-info
Text	https://www.congress.gov/114/bills/hr4696/BILLS-114hr4696ih.pdf