A bill to amend the Internal Revenue Code of 1954 to allow certain individuals who have attained age 65 or who are disabled a refundable tax credit for property taxes paid by them on their principal residences or for a certain portion of the rent they pay for their principal residences.

Summary

Allows individuals who have attained age 65 or who are disabled a refundable tax credit of up to $500, under the Internal Revenue Code of 1954, for property taxes paid by them on their principal residences or for a portion of the rent attributable to property taxes they pay for their principal residences during the taxable year. Reduces the credit available under this Act by 10 percent of the individual's adjusted gross income in excess of $9,000. Disallows the tax deduction for such taxes when a tax credit is taken.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 19 September 1975

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 19 September 1975

   Introduced

   Introduced in House

   Source: IntroReferral

3. 19 September 1975

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 19 September 1975

  Open at official source

Sponsors

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

Related records

• related to → A bill to amend the Internal Revenue Code of 1954 to allow certain individuals who have attained age 65 or who are disabled a refundable tax credit for property taxes paid by them on their principal residences or for a certain portion of the rent they pay for their principal residences.