A bill to amend the Internal Revenue Code with respect to nonrecognition of gain from the sale or exchange of a residence.

Summary

Revises the Internal Revenue Code to increase the time period to 18 months (now 12 months) during which a taxpayer must purchase a new residence in order to defer any gain on the sale of his old residence.

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

Timeline

1. 5 February 1975

   Introduced

   Introduced in Senate

   Source: IntroReferral

2. 5 February 1975

   Introduced

   Referred to Senate Committee on Finance.

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 5 February 1975

  Open at official source

Sponsors

• Sen. Humphrey, Hubert H. [D-MN] · D · Sponsor
• Sen. Tower, John G. [R-TX] · R · Cosponsor
• Sen. Abourezk, James [D-SD] · D · Cosponsor
• Sen. Bumpers, Dale [D-AR] · D · Cosponsor
• Sen. Domenici, Pete V. [R-NM] · R · Cosponsor
• Sen. Hart, Philip A. [D-MI] · D · Cosponsor
• Sen. Hatfield, Mark O. [R-OR] · R · Cosponsor
• Sen. Laxalt, Paul D. [R-NV] · R · Cosponsor
• Sen. Pell, Claiborne [D-RI] · D · Cosponsor
• · ssfi00 · Standing

Related records

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