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- H.R.1391
H.R.1391: Principal Residence Tax Exclusion Act of 1997
About This Bill
- This bill was introduced in the 105th Congress
- This bill is primarily about taxation
- Introduced April 17, 1997
- Latest Major Action Aug. 5, 1997
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
20 (10 Democrats, 11 Republicans)
Bill Summary
Principal Residence Tax Exclusion Act of 1997 - Amends the Internal Revenue Code to replace the existing one-time exclusion of up to $125,000 of gain from the sale of a principal residence by a person at least 55 years old with an exclusion of gain of up to $250,000 ($500,000 for qualifying joint return) for a qualifying sale of a principal residence regardless of the person's age. Applies such exclusion to only one sale or exchange every two...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Ways and Means.
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|
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See H.R.2014.
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| April 17, 1997 |
Introduced in the House by Rob Portman (R-Ohio) |