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- H.R.242
H.R.242: To amend the Internal Revenue Code of 1986 to eliminate the marriage penalty under the one-time exclusion of gain on the sale of a principal residence by an individual who has attained age 55.
About This Bill
- This bill was introduced in the 105th Congress
- This bill is primarily about taxation
- Introduced Jan. 7, 1997
- Latest Major Action Aug. 5, 1997
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
14 (8 Democrats, 7 Republicans)
Bill Summary
Amends the Internal Revenue Code, with respect to limitations on the one-time exclusion of gain from the sale of a principal residence by an individual who has attained age 55, to disregard such an election by one married individual (for purposes of determining whether an election may be made by the individual's spouse with respect to property owned by the spouse before the date of marriage) with respect to a sale or exchange: (1) before the...
(Source: Library of Congress)
Bill Actions
| Date | Description |
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Sponsor introductory remarks on measure.
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Referred to the House Committee on Ways and Means.
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See H.R.2014.
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| Jan. 7, 1997 |
Introduced in the House by Richard E. Neal (D-Mass.) |