Bill114th CongressFiled May 11, 2015Taxation
S. 1281
Helping Our Middle-Class Entrepreneurs Act
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in senate (May 11, 2015)
Helping Our Middle-Class Entrepreneurs Act or the HOME Act
Amends the Internal Revenue Code to allow a taxpayer who uses a residence to conduct a trade or business a standard tax deduction equal to the lesser of $1,500 or the taxpayer's gross trade or business income derived from the business use of such residence. Provides for an inflation adjustment to the standard deduction amount in calendar years beginning after 2015.
What just happenedMay 11, 2015
Read twice and referred to the Committee on Finance.
Who’s behind it
Sen. Udall, Tom [D-NM](D-NM)Sponsor
1 cosponsor1 R
1cosponsors1committees2actions1related bills4subjects
- Introduced in SenateMay 11, 2015
- May 11, 2015IntroReferral
Read twice and referred to the Committee on Finance.
Finance Committee - May 11, 2015IntroReferral10000
Introduced in Senate