HR 7504 · 94th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to exempt from levy for the collection of taxes certain property which is used by the taxpayer as his principal residence and is used in a trade or business and to increase the exemption from levy for books and tools in a trade or business.

Introduced 1975-06-02· Sponsored by Rep. Mitchell, Parren J. [D-MD-7]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1975-06-02)

Plain Language Summary

[AI summary unavailable — showing source text] Exempts from levy for the collection of taxes under the Internal Revenue Code any building or structure which is used by the taxpayer as his principal residence and is used in a trade or business. Increases the exemption from levy for books and tools and used in a trade or business.…

Summarized by Claude AI · Non-partisan · For informational purposes only