To amend the Internal Revenue Code of 1986 to provide for the nonrecognition of gain on long-term real property which is involuntarily converted as the result of the exercise of eminent domain, without regard to whether the replacement property is similar or of like kind.

Summary

Amends the Internal Revenue Code to provide for the nonrecognition of gain on property held for at least ten years which is compulsorily or involuntarily converted as the result of the exercise of eminent domain, without regard to whether the replacement property is similar or of like kind.

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

Timeline

1. 8 May 1997

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 8 May 1997

   Introduced

   Introduced in House

   Source: IntroReferral

3. 8 May 1997

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 8 May 1997 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 8 May 1997

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 8 May 1997

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 8 May 1997

  Open at official source

Sponsors

• Rep. Costello, Jerry F. [D-IL-21] · D · Sponsor
• · hswm00 · Standing

Related records

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