HR 3426 · 95th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to allow an individual to exclude from gross income the gain from the sale or exchange of the individual's principal residence.

Introduced 1977-02-09· Sponsored by Rep. Long, Clarence D. [D-MD-2]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1977-02-09)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exclude from gross income the gain from the sale or exchange of a taxpayer's principal residence provided that he has used and owned it as such for five out of the previous eight years.…

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