Principal Residence Tax Exclusion Act of 1997

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 years. Repeals the provision providing for nonrecognition of gain on principal residence rollovers.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 17 April 1997

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 17 April 1997

   Introduced

   Introduced in House

   Source: IntroReferral

3. 17 April 1997

   Introduced

   Introduced in House

   Source: IntroReferral

4. 5 August 1997

   Committee

   See H.R.2014.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 17 April 1997 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 17 April 1997

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 17 April 1997

  ViewDownloadOpen at official source

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  Vertaal document

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• Introduced in House

  summary · EN · 17 April 1997

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Portman, Rob [R-OH] · R · Sponsor
• Sen. Cardin, Benjamin L. [D-MD] · D · Sponsor
• Rep. Ackerman, Gary L. [D-NY-5] · D · Sponsor
• Rep. Kelly, Sue W. [R-NY-19] · R · Sponsor
• Rep. Foley, Mark [R-FL-16] · R · Cosponsor
• Sen. Blunt, Roy [R-MO] · R · Cosponsor
• Rep. Danner, Pat [D-MO-6] · D · Cosponsor
• Rep. McCollum, Bill [R-FL-8] · R · Cosponsor
• Rep. Wexler, Robert [D-FL-19] · D · Cosponsor
• Rep. Weller, Jerry [R-IL-11] · R · Cosponsor
• Rep. Barcia, James A. [D-MI-5] · D · Cosponsor
• Rep. Burton, Dan [R-IN-5] · R · Cosponsor
• Rep. Sherman, Brad [D-CA-32] · D · Cosponsor
• Rep. Porter, John Edward [R-IL-10] · R · Cosponsor
• Rep. Pombo, Richard W. [R-CA-11] · R · Cosponsor
• Rep. Thurman, Karen L. [D-FL-5] · D · Cosponsor
• Rep. Greenwood, James C. [R-PA-8] · R · Cosponsor
• Rep. Lowey, Nita M. [D-NY-17] · D · Cosponsor
• Rep. Capps, Walter [D-CA-22] · D · Cosponsor
• Rep. Calvert, Ken [R-CA-41] · R · Cosponsor
• Rep. Abercrombie, Neil [D-HI-1] · D · Cosponsor
• · hswm00 · Standing

Related records

• related to ← Taxpayer Relief Act of 1997
• related to ← Principal Residence Tax Exclusion Act of 1997