I
111th CONGRESS
2d Session
H. R. 6082
IN THE HOUSE OF REPRESENTATIVES
August 10, 2010
Mr. Stupak (for himself and Mr. Kagen) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to allow an exemption from tax for individuals with gross income of not more than $50,000.
$50,000 exemption for certain individuals over age 65
In general
Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting before section 140 the following new section:
$50,000 exemption for individuals over age 65
In general
Gross income of an eligible individual shall be treated as zero for purposes of this chapter.
Eligible individual
For purposes of this section, the term eligible
individual
means any individual—
who (and if married, such taxpayer’s spouse) has attained the age of 65, and
whose gross income (determined without regard to this section) is not more than $50,000.
.
Conforming amendment
The table of sections for part III of subchapter B of chapter 1 of such Code is amended by inserting before the item relating to section 140 the following new item:
Sec. 139E. $50,000 exemption for individuals over age 65.
.
Effective date
The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.