H.R. 9064

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9064 Introduced in House (IH)]

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119th CONGRESS
2d Session
H. R. 9064

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.

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IN THE HOUSE OF REPRESENTATIVES

May 29, 2026

Ms. Malliotakis introduced the following bill; which was referred to 
the Committee on Ways and Means

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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.

Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 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.
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