Nonitemizer Real Property Tax Deduction Act of 2006
Latest action · Sep 20, 2006 Referred to the House Committee on Ways and Means.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedSep 20, 2006
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Nonitemizer Real Property Tax Deduction Act of 2006 - Amends the Internal Revenue Code to: (1) increase the standard tax deduction for taxpayers who do not itemize tax deductions by $500 ($1,000 for joint returns) of the real property taxes paid or accrued by such taxpayers in a taxable year; (2) define economic substance for purposes of evaluating tax shelter transactions; and (3) impose a penalty for understatements of tax liability resulting from transactions lacking economic substance.
Cosponsors 4
Members who signed on, in the order they did. Signatures ran from Sep 27, 2006 to Nov 14, 2006.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-OH | Sherrod Brown | Sep 27, 2006 | |
| D-FL | Jim Davis | Sep 29, 2006 | |
| D-TX | Sheila Jackson Lee | Nov 14, 2006 | |
| D-NJ | Steven R. Rothman | Nov 14, 2006 |
Actions 2
Everything that happened, newest first.
- Sep 20, 2006Introduced in House
- Sep 20, 2006Referred to the House Committee on Ways and Means.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 3738 | Nonitemizer Real Property Tax Deduction Act of 2006 | Related bill | Jul 26, 2006 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Sep 20, 2006Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.