To amend the Internal Revenue Code of 1986 to temporarily increase the capital gains exclusion for any qualifying senior who se..., the official text

119 HR 9064 IH: 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.
U.S. House of Representatives
2026-05-29
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EN
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I 119th CONGRESS 2d Session H. R. 9064 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.
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.