HR 7691 · 96th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to extend to 48 months the rollover period for nonrecognition of gain on the sale of a principal residence.

Introduced 1980-06-27· Sponsored by Rep. Sensenbrenner, F. James, Jr. [R-WI-9]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1980-06-27)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to extend from 18 to 24 months the period (rollover period) during which a taxpayer must reinvest the proceeds from the sale of a principal residence in a new residence in order to qualify for the nonrecognition of any gain from such sale.…

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