H.R. 1340 · 119th Congress · 2025–2026
More Homes on the Market Act
H.R. 1340 in the 119th Congress (2025–2026) was introduced on Feb 13, 2025, sponsored by Jimmy Panetta with 158 co-sponsors.
During the 119th Congress (2025–2026), Donald Trump was president, and Republicans held majorities in both the House and Senate.
- Status
- Introduced
- Introduced
- Feb 13, 2025
- Co-sponsors
- 158
- Policy area
- Taxation
What it does
More Homes on the Market Act This bill increases the amount of gain from the sale of a principal residence that an individual may exclude from gross income (for federal tax purposes). Under the bill, an individual may exclude from gross income gain from the sale of a principal residence of up to $500,000 (currently $250,000), and taxpayers who are married and file a joint federal income tax return may exclude up to $1 million…
Summary by the nonpartisan Congressional Research Service.
Sponsor
Jimmy Panetta (D-CA). Co-sponsors: 91 Democrats, 67 Republicans.
Where it stands
- IntroducedFeb 13, 2025
- Passed the House—
- Passed the Senate—
- Sent to the President—
- Became law—
Latest action: Referred to the House Committee on Ways and Means. (Feb 13, 2025)
More bills from Jimmy Panetta in the 119th Congress
- H.R. 5334: Supporting Early-childhood Educators’ Deductions Act of 2025
- H.R. 1266: Combating Illicit Xylazine Act
- H.R. 8735: American Sovereignty and Monterey Historic Military Site Study Act
- H.R. 9322: Abraham Accords Defense Cooperation Act of 2026
- H.R. 9444: Support our Firefighters Act
- H.R. 9927: Farmers Lifeline to Overcoming Disasters (FLOOD) Act
- H.R. 10195: Mali Security Partnership and Counterterrorism Act
- H.R. 10586: NATO Shield Act
Other Taxation bills in the 119th Congress
- H.J.Res. 25: Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the…
- H.R. 517: Filing Relief for Natural Disasters Act
- H.R. 998: Internal Revenue Service Math and Taxpayer Help Act
- H.R. 1491: Disaster Related Extension of Deadlines Act
- H.R. 5366: Federal Disaster Tax Relief Act of 2025
- S.J.Res. 3: A joint resolution providing for congressional disapproval under chapter 8 of title 5, United…
- H.R. 33: To amend the Internal Revenue Code of 1986 to provide special rules for the taxation of certain…
- S. 213: Main Street Tax Certainty Act
- H.R. 247: Health Care Affordability Act of 2025
- H.R. 335: Repeal the NFA Act
Committees
More
From GovInfo bill records, Congressional Research Service summaries, Voteview roll calls and lobbying reports.
Cite or embed this page
Capitol Receipts, “H.R. 1340 (119th Congress): More Homes on the Market Act,” https://www.capitolreceipts.com/bill/119-hr-1340/more-homes-on-the-market-act (accessed 2026-10-17).