A bill to allow a credit against Federal income taxes or a payment from the U.S. Treasury for State and local property taxes or an equivalent portion of rent paid on their residences by individuals who have attained age 65.
Latest action. Referred to House Committee on Ways and Means.
Allows a tax credit against Federal income taxes or a payment from the United States Treasury for State and local real property taxes or an equivalent portion of rent paid on their residences by individuals who have attained age 65. States that the total tax credit and payment from the Treasury under this Act for any taxable year shall not exceed $300 ($150 in the case of a married individual filing a separate return). Provides that the credit otherwise allowable under this Act shall be reduced by an amount equal to the amount by which the taxpayer's adjusted gross income for the taxable year exceeds $6,500 ($3,250 in the case of a married individual filing a separate return). States that in the case of a husband and wife who file a single return jointly under this Act, the age requirement contained herein shall be treated as satisfied if either spouse has attained the age of 65 before the close of the taxable year. Provides that for the purposes of this Act a tenant-stockholder in a cooperative housing corporation shall be deemed to own his dwelling unit. States that the term "rent constituting property taxes" means an amount equal to 25 percent of the rent paid during a taxable year by a taxpayer for the right to occupy his dwelling during that year, excluding any charges for utilities, services, furnishings, or appliances furnished by the landlord as a part of the rental agreement.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on February 6, 1974. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on February 6, 1974: Referred to House Committee on Ways and Means.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 93rd Congress (1973-74), 651 of the 23,396 bills and joint resolutions introduced became law, about 2.8 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
GEORGE O'BRIEN (R-IL) introduced it on February 6, 1974. No cosponsors are recorded.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on February 6, 1974, 19209 days ago. The most recent recorded action was 19209 days ago, on February 6, 1974.
Measures do not carry over. Anything the 93rd Congress has not finished by January 3, 1975 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers