A bill to amend section 121 of the Internal Revenue Code of 1954 (relating to gain from sale or exchange of residence of individual who has attained age 65) to lower to 60 the age at which the benefits of that section may be elected and to increase the amount of gain which may be excluded under such section.

Summary

Provides that the exclusion from gross income under the Internal Revenue Code presently allowable to those over age 65 with respect to gain on the sale of a principal residence held for more than 5 years shall be available to taxpayers at age 60 (now age 65).

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

Timeline

1. 26 February 1975

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 26 February 1975

   Introduced

   Introduced in House

   Source: IntroReferral

3. 26 February 1975

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

• Introduced in House

  summary · EN · 26 February 1975

  Open at official source

Sponsors

• Rep. Frey, Lou, Jr. [R-FL-9] · R · Sponsor
• · hswm00 · Standing

Related records

No cross-record relationships stored yet.