A bill to amend the Internal Revenue Code of 1986 to provide a special rule for members of the uniformed services and Foreign Service, and other employees, in determining the exclusion of gain from the sale of a principle residence.

Fact Sheet API

Bill Number

S 1755

Introduced

Dec 3, 2001

Latest Action

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S12313)

Sponsor

Cosponsors

Topics

Americans employed in foreign countries Armed forces abroad Armed Forces and National Security Capital gains tax Department of State Families Federal employees Foreign service Government Operations and Politics Home ownership Housing and Community Development Housing finance Income tax International Affairs Married people Military personnel Personal income tax Tax exclusion Taxation

Full Text

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Votes

Summary

Amends the Internal Revenue Code to suspend, for purposes of determining exclusion of gain from the sale of a principal residence, the five-year determination period for: (1) members of the uniformed services or the Foreign Service serving on qualified extended duty (at least 50 miles from such residence or residing in Government quarters); or (2) an employee serving for more than 90 days on assignment abroad.

Actions

Dec 3, 2001

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S12313)
Dec 3, 2001

Sponsor introductory remarks on measure. (CR S12312-12313)
Dec 3, 2001

Introduced in Senate

Amendments

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