HR 5652
102th Congress
House
Taxation
Bank deposits
Bank failures
Capital gains tax
Finance and Financial Sector
Housing and Community Development
Housing finance
Income tax
Tax exclusion
To amend the Internal Revenue Code of 1986 to extend the period for the rollover of gain on the sale of a principal residence for the period the taxpayer has substantial frozen deposits in a financial institution.
Introduced: July 22, 1992
See on congress.gov
Everywhere this bill has been
12 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 5, 1992
See H.R.11.
Aug 5, 1992
Received in the Senate and read twice and referred to the Committee on Finance.
Aug 3, 1992
On motion to suspend the rules and pass the bill Agreed to by voice vote.
Aug 3, 1992
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.
Aug 3, 1992
DEBATE - The House proceeded with forty minutes of debate.
Aug 3, 1992
Motion to reconsider laid on the table Agreed to without objection.
Aug 3, 1992
Considered under suspension of the rules.
Aug 3, 1992
Mr. Gibbons moved to suspend the rules and pass the bill.
Jul 27, 1992
Placed on the Union Calendar, Calendar No. 422.
Jul 27, 1992
Reported by the Committee on Ways and Means. H. Rept. 102-731.
Jul 22, 1992
Introduced in House
Jul 22, 1992
Referred to the House Committee on Ways and Means.
Plain-English summary
Amends the Internal Revenue Code to suspend the two-year rollover period on the gain on sale of a principal residence for taxpayers who have substantial deposits frozen in a financial institution. Prohibits such suspended period from extending beyond five years after the date of sale of the old residence.
Describes substantial frozen deposits as those in excess of 50 percent of the net amount realized from the sale of the old residence.
What's happening now
See H.R.11.
Committees of jurisdiction
2
Cosponsors
1