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- H.R.1193
H.R.1193: To amend the Internal Revenue Code of 1986 to allow indexing of capital assets for purposes of determining gain or loss and to allow an exclusion of gain from the sale of a principal residence.
About This Bill
- This bill was introduced in the 105th Congress
- This bill is primarily about taxation
- Introduced March 20, 1997
- Latest Major Action March 20, 1997
Bill Sponsor
Bill Cosponsors
5 (All Republicans)
Bill Summary
Amends the Internal Revenue Code to require that an inflation indexed basis rather than an adjusted basis be used to determine gain or loss in the disposition of the following assets held at least one year: (1) corporate stock; (2) bonds; (3) tangible property used in, or land held in connection with, a business or trade; and (4) a principal residence. Replaces the existing one-time "55 years or older" exclusion of $125,000 of gain from the...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Ways and Means.
|
|
| March 20, 1997 |
Introduced in the House by Edward Royce (R-Calif.) |