A bill to amend the Internal Revenue Code of 1986 to allow the one-time exclusion or gain from sale of a principal resident to be taken before age 55 if the taxpayer or family member suffers a catastrophic illness.

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Status In Committee
Sponsor Jesse Helms
Citation 103-S-199
Actions 2
Introduced Jan 26th, 1993
Cosponsors
Last Action Jan 26th, 1993
Policy Area
✓
Introduced Senate Jan 26
Senate
House
President
Enacted

Summary

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Amends the Internal Revenue Code to allow the one-time exclusion on gain from the sale of a principal residence to be taken before age 55 if the taxpayer or a family member: (1) is physically or mentally incapable of self-care; and (2) has had such condition, or will have such condition, for at least six months.

Actions

2
Senate
INTRODUCED
INTRODUCED
Jan 26, 1993
ON FLOOR
REFERRED TO COMMITTEE
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