HR 1204
105th Congress
House
Taxation
Capital gains tax
Estates (Law)
Home ownership
Housing and Community Development
Housing finance
Housing for the aged
Income tax
Law
Personal income tax
Social Welfare
Tax exclusion
To amend the Internal Revenue Code of 1986 to provide that the sale of a life estate or a remainder interest in a principal residence qualifies for the one-time exclusion of gain on sale of a principal residence.
Introduced: March 20, 1997
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 20, 1997
Referred to the House Committee on Ways and Means.
Mar 20, 1997
Sponsor introductory remarks on measure. (CR E533)
Mar 20, 1997
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to exclude from gain the sale of a life estate or a remainder interest in a principal residence by a person eligible for the one-time "55 years or older" exclusion of gain from the sale of such residence. Stipulates that such provision shall not apply to related party sales.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1