Homeowners Relief Act of 1996

Summary

Homeowners Relief Act of 1996 - Amends the Internal Revenue Code to exclude gain from the sale or exchange of a principal residence by an individual from gross income if, during the seven-year period ending before the sale or exchange, such residence has been owned and used by the taxpayer as the taxpayer's principal residence for periods aggregating five years or more. (Currently, the exclusion has a dollar limitation, is applicable to only one sale, and is available only to an individual who has attained the age of 55 and has used the property as a principal residence for three of the five years preceding the sale.)

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 4 June 1996

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 4 June 1996

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 4 June 1996

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.