3.0.0 4696 2023-01-11T13:31:55Z 2023-01-11T13:31:55Z House HR 2016-03-03 114 [Congressional Record Volume 162, Number 35 (Thursday, March 3, 2016)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. ESHOO:H.R. 4696.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 1[Page H1145]]]> hswm00 Ways and Means Committee House Standing Referred to 2016-03-03T14:04:15Z 2016-03-03 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2016-03-03 Introduced in House IntroReferral Intro-H 9 Library of Congress 2016-03-03 Introduced in House IntroReferral 1000 9 Library of Congress E000215 Rep. Eshoo, Anna G. [D-CA-18] ANNA ESHOO D CA G. 18 N T000460 Rep. Thompson, Mike [D-CA-5] MIKE THOMPSON D CA 5 2016-03-03 True C001105 Rep. Comstock, Barbara [R-VA-10] Barbara Comstock R VA 10 2016-04-14 False L000579 Rep. Lowenthal, Alan S. [D-CA-47] Alan Lowenthal D CA S. 47 2016-05-11 False L000557 Rep. Larson, John B. [D-CT-1] JOHN LARSON D CT B. 1 2016-05-24 False N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] ELEANOR NORTON D DC HOLMES 0 2016-09-06 False L000397 Rep. Lofgren, Zoe [D-CA-19] ZOE LOFGREN D CA 19 2016-09-06 False Taxation Housing finance and home ownership Income tax deductions Tax administration and collection, taxpayers Taxation 00 2016-03-03 Introduced in House 2016-04-04T14:33:54Z Helping Our Middle-Income Earners Act or the HOME 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 Display Title HOME Act Official Title as Introduced To amend the Internal Revenue Code of 1986 to allow a deduction for homeowners association assessments. Introduced in House IH Short Titles as Introduced HOME Act Short Titles as Introduced Helping Our Middle-Income Earners Act Introduced in House 2016-03-03T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr4696ih/xml/BILLS-114hr4696ih.xml 2016-03-03 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.