Personal Income Tax Law: exclusions: real property.

Legislative status

1. Introduced
2. In Committee
3. Reported by Committee
4. Floor Vote Scheduled
5. Passed One Chamber
6. Passed Both Chambers
7. Sent to Executive
8. Signed into Law

Summary

The bill creates a temporary exemption from state personal income tax on gains from the sale of a primary residence that a senior has owned for at least 20 years. It applies only to individuals 55 or older who sell the home to another person, and only for tax years beginning Jan. 1, 2027 through Dec. 31, 2031. The goal is to encourage older homeowners to put long‑held homes back on the market, expanding housing supply for younger buyers.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Hearings

• Revenue and Taxation Committee Hearing
  Revenue and Taxation · Apr 27, 2026
• Revenue and Taxation Committee Hearing
  Revenue and Taxation · Apr 6, 2026
• Revenue And Taxation
  Revenue And Taxation · Apr 6, 2026

History

1. Apr 27, 2026In committee: Set, second hearing. Held under submission.
2. Apr 21, 2026Re-referred to Com. on REV. & TAX.
3. Apr 20, 2026From committee chair, with author's amendments: Amend, and re-refer to Com. on REV. & TAX. Read second time and amended.
4. Apr 6, 2026In committee: Set, first hearing. Referred to REV. & TAX. suspense file.
5. Mar 9, 2026Referred to Com. on REV. & TAX.
6. Feb 21, 2026From printer. May be heard in committee March 23.
7. Feb 20, 2026Read first time. To print.

Sponsors

• Lee · sponsor

Bill text

Opens the legislature’s own copy.

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