HR 7687 Re-checks Congress.gov for new actions and updates the bill's status, and fills in any sponsors, committees, or related bills that are missing. It does not re-pull sponsors/cosponsors/committees/related — those rarely change — and it skips all work if nothing has changed upstream, so it's cheap to click.
To amend the Internal Revenue Code of 1986 to exclude from gross income gain from the conversion of property by reason of eminent domain.
Summary
This bill amends the tax code to exclude from federal income tax any gain that a property owner receives when the government takes their property through eminent domain. The exclusion applies to property located in the United States that is taken through the exercise of eminent domain or sold under threat of eminent domain. Property owners may elect to opt out of this tax exclusion if they choose. The bill also specifies that the existing tax rule for involuntary conversions does not apply to properties taken by eminent domain under this new provision. The changes apply to takings occurring in taxable years ending after the bill becomes law.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Rep. Cline, Ben [R-VA-6] (R-VA)
9 cosponsors
- Rep. Biggs, Sheri [R-SC-3] (R-SC)
- Rep. Fleischmann, Charles J. "Chuck" [R-TN-3] (R-TN)
- Rep. Goldman, Craig A. [R-TX-12] (R-TX)
- Rep. Hurd, Jeff [R-CO-3] (R-CO)
- Rep. Mann, Tracey [R-KS-1] (R-KS)
- Rep. Moore, Barry [R-AL-1] (R-AL)
- Rep. Ogles, Andrew [R-TN-5] (R-TN)
- Rep. Perry, Scott [R-PA-10] (R-PA)
- Rep. Rulli, Michael A. [R-OH-6] (R-OH)
Actions (2)
- Feb 25, 2026 Referred to the House Committee on Ways and Means. · house
- Feb 25, 2026 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE HOUSE OF REPRESENTATIVES
February 25, 2026
Mr. Cline (for himself, Mr. Fleischmann, Mr. Perry, Mr. Moore of Alabama, and Mr. Ogles) 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 exclude from gross income gain from the conversion of property by reason of eminent domain.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “No Tax on Takings Act”.
SEC. 2. EXCLUSION FROM GROSS INCOME FOR GAIN FROM CONVERSION OF PROPERTY BY REASON OF EMINENT DOMAIN.
(a) In General.—Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 139L the following new section:
“SEC. 139M. GAIN FROM CONVERSION OF PROPERTY BY REASON OF EMINENT DOMAIN.
“(a) In General.—Gross income shall not include gain from the conversion of property located in the United States by reason of the exercise of eminent domain (including the sale or exchange of such property under threat or imminence of such exercise).
“(b) Coordination With Rule for Involuntary Conversions.—Section 1033 shall not apply to any conversion to which this section applies.
“(c) Election Not To Claim Exclusion.—This section shall not apply to any conversion if the taxpayer elects (at such time and in such manner as the Secretary may provide) to have this section not apply to such conversion.
“(d) Regulations.—The Secretary shall issue such regulations or other guidance as may be necessary or appropriate to carry out the purposes of this section.”.
(b) Clerical Amendment.—The table of sections for part III of subchapter B of chapter 1 of such Code is amended by inserting after the item relating to section 139L the following new item:
“Sec. 139M. Gain from conversion of real property by reason of eminent domain.”.
(c) Effective Date.—The amendments made by this section shall apply to conversions in taxable years ending after the date of the enactment of this Act. <all>
Comments