SHARE Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 8116 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 8116 To amend the Internal Revenue Code of 1986 to exclude from gross income certain proceeds of shared appreciation mortgage contracts. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES March 26, 2026 Mr. Moore of Utah (for himself, Mr. Panetta, and Mr. Barr) 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 certain proceeds of shared appreciation mortgage contracts. 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 ``Shared Home Appreciation for Residential Equity Act'' or the ``SHARE Act''. SEC. 2. EXCLUSION OF CERTAIN PROCEEDS OF A SHARED APPRECIATION MORTGAGE CONTRACT. (a) In General.--Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 139I the following new section: ``SEC. 139J. CERTAIN PROCEEDS OF A SHARED APPRECIATION MORTGAGE CONTRACT. ``(a) In General.--Gross income shall not include-- ``(1) any amount received by a lender as repayment of a shared appreciation mortgage which exceeds the original principal obligation of such mortgage if-- ``(A) the income of the borrower did not exceed 140 percent of the area median income for the census tract in which the real property is located for the calendar year in which such loan was issued, and ``(B) the real property is a residential property which was the principal residence (as such term is used in section 121) of the borrower, or ``(2) any gain from the disposition of so much of a capital asset as is composed of or secured by mortgages described in