Blocks states from charging old taxes on assets of people who don't live there
This bill would stop states from charging taxes on assets based on their value from past years. This prohibition would apply to people who no longer live in that state when the tax law is passed. It aims to prevent states from imposing retroactive taxes on individuals and would limit states' power to collect certain taxes.
Currently, states could potentially try to impose taxes on the past value of assets owned by people who no longer live in that state. If this bill becomes law, states would be federally prohibited from doing so. This means states would be blocked from imposing such retroactive taxes on individuals, and states would lose this specific taxing power.
HR 7619 · 119th Congress · February 20, 2026 · AI Summary by gemini-2.5-flash · 9/10
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