To amend the Internal Revenue Code of 1986 to extend the period for the rollover of gain on the sale of a principal residence for the period the taxpayer has substantial frozen deposits in a financial institution.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to suspend the two-year rollover period on the gain on sale of a principal residence for taxpayers who have substantial deposits frozen in a financial institution. Prohibits such suspended period from extending beyond five years after the date of sale of the old residence. Describes substantial frozen deposits as those in excess of 50 percent of the net amount realized from the sale of the old residence.…