A bill to amend the Internal Revenue Code of 1954 to provide for the nonrecognition of gain from the involuntary conversion of real property by condemnation through eminent domain.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to provide that no gain shall be recognized from the involuntary conversion of real property by condemnation through eminent domain if the taxpayer held such property for the five years prior to the date of conversion.…