HR 12971 · 93th Congress · Social Welfare

A bill to amend the Internal Revenue Code of 1954 to increase the execution allowance for gain from the sale or exchange of a residence in the case of individuals 65 and over.

Introduced 1974-02-21· Sponsored by Rep. Roybal, Edward R. [D-CA-30]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1974-02-21)

Plain Language Summary

[AI summary unavailable — showing source text] Increases from $20,000 to $30,000 the exclusion allowance under the Internal Revenue Code for gain from the sale or exchange of a residence in the case of individuals 65 and over. (Amends 26 U.S.C. 121 (b) (1))…

Summarized by Claude AI · Non-partisan · For informational purposes only