HR 200
105th Congress
House
Taxation
Age
Capital gains tax
Families
Home ownership
Housing and Community Development
Housing finance
Income tax
Personal income tax
Social Welfare
Tax exclusion
Homeowners Relief Act of 1997
Introduced: January 7, 1997
See on congress.gov
Everywhere this bill has been
4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 5, 1997
See H.R.2014.
Jan 7, 1997
Referred to the House Committee on Ways and Means.
Jan 7, 1997
Sponsor introductory remarks on measure. (CR E41)
Jan 7, 1997
Introduced in House
Plain-English summary
Homeowners Relief Act of 1997 - Amends the Internal Revenue Code to exclude gain from the sale or exchange of a principal residence by an individual from gross income if, during the seven-year period ending before the sale or exchange, such residence has been owned and used by the taxpayer as the taxpayer's principal residence for periods aggregating five years or more. (Currently, the exclusion has a dollar limitation, is applicable to only one sale, and is available only to an individual who has attained the age of 55 and has used the property as a principal residence for three of the five years preceding the sale.)
What's happening now
See H.R.2014.
Committees of jurisdiction
1