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.

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 date of marriage; or (2) on or after the date of marriage of property owned by such individual before such date. Allows a separate dollar limitation for each election permitted under this provision.

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

Timeline

1. 7 January 1997

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 7 January 1997

   Introduced

   Sponsor introductory remarks on measure. (CR E17)

   Source: IntroReferral

3. 7 January 1997

   Introduced

   Introduced in House

   Source: IntroReferral

4. 7 January 1997

   Introduced

   Introduced in House

   Source: IntroReferral

5. 5 August 1997

   Committee

   See H.R.2014.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 7 January 1997 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 7 January 1997

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 7 January 1997

  ViewDownloadOpen 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.

• Introduced in House

  summary · EN · 7 January 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

• Rep. Neal, Richard E. [D-MA-1] · D · Sponsor
• Rep. Frost, Martin [D-TX-24] · D · Cosponsor
• Rep. McGovern, James P. [D-MA-2] · D · Cosponsor
• Rep. Fox, Jon D. [R-PA-13] · R · Cosponsor
• Rep. Lowey, Nita M. [D-NY-17] · D · Cosponsor
• Sen. Graham, Lindsey [R-SC] · R · Cosponsor
• Rep. Crane, Philip M. [R-IL-8] · R · Cosponsor
• Rep. Foglietta, Thomas M. [D-PA-1] · D · Cosponsor
• Rep. Petri, Thomas E. [R-WI-6] · R · Cosponsor
• Rep. Goodling, William F. [R-PA-19] · R · Cosponsor
• Rep. Martinez, Matthew G. [D-CA-31] · D · Cosponsor
• Rep. English, Phil [R-PA-3] · R · Cosponsor
• Rep. Foley, Mark [R-FL-16] · R · Cosponsor
• Rep. Manton, Thomas J. [D-NY-7] · D · Cosponsor
• Rep. Matsui, Robert T. [D-CA-5] · D · Cosponsor
• · hswm00 · Standing

Related records

• related to ← Taxpayer Relief Act of 1997