S 3505 · 94th Congress · Taxation

A bill to amend Section 121 of the Internal Revenue Code.

Introduced 1976-05-27· Sponsored by Sen. Buckley, James L. [R-NY]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Referred to Senate Committee on Finance.(1976-05-27)

Plain Language Summary

[AI summary unavailable — showing source text] Increases to $60,000, multiplied by the ratio which the Consumer Price Index for the taxable year bears to the Consumer Price Index for 1976, the amount of gain excluded from the gross income of a taxpayer over the age of 65 who sells his principal residence.…

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