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HR 396 111th Congress House

Senior Assets Verification Exemption (SAVE) from Capital Gains Tax Act of 2009

Official title: To amend the Internal Revenue Code of 1986 to provide that certain net capital gain of individuals who have attained age 65 shall not be subject to tax.

Introduced: January 9, 2009 Introduced by: Cohen, Steve Democratic · Tennessee See on congress.gov
Taxation AgingCapital gains taxIncome tax deductionsIncome tax exclusionIncome tax rates
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This bill died when the 111th Congress ended
It never became law before the 111th Congress (2009–2010) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 9, 2009
Referred to the House Committee on Ways and Means.
Jan 9, 2009
Introduced in House
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 Latest action January 9, 2009

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Senior Assets Verification Exemption (SAVE) from Capital Gains Tax Act of 2009 - Amends the Internal Revenue Code to allow a tax deduction for the qualified net capital gain of taxpayers age 65 and older. Defines "qualified net capital gain" as the lesser of: (1) net capital gain; or (2) net capital gain only from assets held for at least 15 years.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 396: Senior Assets Verification Exemption (SAVE) from Capital Gains Tax Act of 2009. 111th Congress. Open America. https://openamerica.io/bill/111-HR-396/
MLA
"H.R. 396: Senior Assets Verification Exemption (SAVE) from Capital Gains Tax Act of 2009." 111th Congress, 2026, Open America, https://openamerica.io/bill/111-HR-396/.
Bluebook (legal)
H.R. 396, 111th Cong. (2026), https://openamerica.io/bill/111-HR-396/.
Markdown link
[H.R. 396: Senior Assets Verification Exemption (SAVE) from Capital Gains Tax Act of 2009](https://openamerica.io/bill/111-HR-396/)
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