HR 6153
102th Congress
House
Taxation
Capital gains tax
Housing and Community Development
Housing finance
Income tax
Social Welfare
Tax exclusion
To amend the Internal Revenue Code of 1986 to provide for the temporary waiver of certain restrictions on the 1-time exclusion of gain from the sale of a principal residence.
Introduced: October 5, 1992
Introduced by:
Smith, Christopher H.
Republican
· New Jersey
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 5, 1992
Referred to the House Committee on Ways and Means.
Oct 5, 1992
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to waive the age requirement (55 years or older) for eligibility with respect to the one-time income tax exclusion of gain from the sale of a residence during the two-year period beginning on the day after the date of the enactment of this Act.
Requires this amendment to be applied by not taking into account any election with respect to a sale or exchange made on or before such date. Requires, in the case of a sale or exchange after the close of the two-year period, that this amendment be applied by not taking into account any election made during such two-year period.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1