The Cabinet gave the go-ahead for the publication of a bill to reform stamp duty when it met for the first time last night.
Fianna Fáil gave a pre-election commitment to reform the tax on house purchases.
Speaking after the first Cabinet meeting in Áras an Uachtaráin, Minister for Finance and Tánaiste Brian Cowen said a Bill would be brought before the Dáil when it returns.
It is the only major legislation expected to go through the Dáil and Seanad before the summer recess. The Dáil adjourned last night for 12 days until Tuesday, June 26th.
It is likely that the House will sit for two weeks before adjourning for summer, possibly on Thursday July 5th. The Government had pledged during the election to reform stamp duty legislation, and the new Bill, not yet published, will be introduced once the Dáil resumes on Tuesday week.
The new stamp duty Bill will reform the legislation to abolish stamp duty for all first-time buyers and will be made retrospective to April 30th.