A bill to allow a credit against the Federal income tax for State and local real property taxes, or an equivalent portion of rent, paid on their principal residence by individuals who have attained age 62.
Latest action. Referred to House Committee on Ways and Means.
Allows a tax credit under the Internal Revenue Code for State and local real property taxes on places of principal residence for the amount of rent constituting real property tax for individuals 62 and over. Limits such credit to $450. Reduces such credit by the amount by which an individual's adjusted gross income exceeds $3,750. Allows such credit where either spouse (where a joint return is involved) has reached age 62. Prescribes such credit allowance for property used in part as the principal residence. Allows such a credit for tenant-stockholders in cooperative housing corporations. States that the amount of real property taxes paid by an individual during any taxable year shall be reduced by the amount of any refund of such taxes.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on May 7, 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 May 7, 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?
STANFORD PARRIS (R-VA) introduced it on May 7, 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 May 7, 1974, 19119 days ago. The most recent recorded action was 19119 days ago, on May 7, 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