To amend the Internal Revenue Code of 1986 to allow the 1-time exclusion on gain from the sale of a principal residence to be taken before age 55 if the taxpayer is permanently and totally disabled.

[AI summary unavailable — showing source text] 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 is permanently and totally disabled. Removes the requirement that the property owned by the taxpayer aged 55 must have been used as his or her principal residence for periods aggregating three years or more during the five-year period ending on the date of sale or exchange.…