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119-hr-10883119th CongressWALLET

American Home Mobility Act

Sponsored By: Representative Lawler, Michael [R-NY-17]

Introduced

Summary

Creates a new path to defer capital gains when swapping primary homes. The American Home Mobility Act would add a principal-residence exception to the like-kind exchange rules so qualifying long-term homeowners can defer recognizing gain when they exchange one primary residence for another.

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  • Homeowners: Owners who used a property as their principal residence at any time during the 30-year period ending on the exchange date could qualify for nonrecognition if they exchange it solely for another property that will be their principal residence.
  • Timing and scope: The rule would apply to exchanges completed after December 31, 2026 and would create an alternate basis for nonrecognition under Internal Revenue Code section 1031 while preserving existing 1031 pathways for investment property.
  • Tax-code edits: The bill would add conforming amendments to section 1031 headings and the tax code table of sections to insert "held for use as principal residence" after "investment".

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Defer tax when you swap homes

If enacted, you would be able to delay reporting a gain or loss when you exchange your main home. To qualify, you must have owned and used the property as your principal residence during the 30 years before the exchange. The replacement property must be like-kind real property held to be your principal residence. This rule would apply to exchanges completed after December 31, 2026.

Sponsors & CoSponsors

Sponsor

Lawler, Michael [R-NY-17]

NY • R

Cosponsors

  • Rep. Gottheimer, Josh [D-NJ-5]

    NJ • D

    Sponsored 10/22/2026

Roll Call Votes

No roll call votes available for this bill.

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