A bill to amend the Internal Revenue Code of 1954 to provide relief to certain individuals 65 years of age and over who own or rent their homes, through a system of income tax credits and refunds.

Summary

Allows a credit against taxes imposed by the Internal Revenue Code of 1954 based upon the amount of property taxes or rent constituting property taxes accrued for a taxable year by claimants filing a claim under this Act who are domiciled in the United States and 65 years of age or over during the entire taxable year preceding the year in which such claim is filed. Defines the terms used in this Act. Requires claimants under this Act to supply reasonable proof of age, rent paid, property taxes accrued, changes of homestead, household membership, household income, size, and nature of property claimed as the homestead. Permits any person aggrieved by the denial of relief claimed under this Act to appeal such denial to the U.S. Tax Court. (Adds 26 U.S.C. 1601-1605)

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Timeline

1. 9 January 1973

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 9 January 1973

   Introduced

   Introduced in House

   Source: IntroReferral

3. 9 January 1973

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 9 January 1973

  Open at official source

Sponsors

• Rep. Howard, James J. [D-NJ-3] · D · Sponsor
• · hswm00 · Standing

Related records

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