PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Legislation and National Security.
Congressional Research Service
Version 00 · Introduced in House · Oct 4, 1994
Long-Term Care Act of 1994 - Amends the Internal Revenue Code to provide for the nonrecognition of gain from the sale of a principal residence if the new residence is a qualified continuing care retirement community and the taxpayer has attained the age 55. Excludes from gross income amounts withdrawn from individual retirement plans or certain pension plans to pay qualified long-term care insurance expenses. Increases the one-time exclusion of gain on the sale of a principal residence by individuals who have attained age 55 by the amount set aside for the long-term care of such individuals. Requires State mortgage loan laws to expressly apply to reverse mortgage loans. Provides that proceeds from reverse mortgage loans shall not be treated as income or receipts for means-tested programs.
People & committees
Rep. Dreier, David [R-CA-28] · R–CA
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Referred to the Subcommittee on Legislation and National Security.
Referred to the House Committee on Ways and Means.
Referred to the House Committee on Government Operations.
Referred to the House Committee on Banking, Finance + Urban Affrs.
Sponsor introductory remarks on measure. (CR E2064)
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 26, 2025. Consult Congress.gov for the current record.
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