,i  #aae? ,,congress  #a/ ,session  ,h4 
,r4 #ccff  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,july #bd1 #bjag,mr4  
,got!im] 7= himself & ,mr4 ,katko7      
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,ways & ,means  ,a     
,,bill  ,to am5d ! ,int]nal ,rev5ue     
,code ( #aihf to all[1 9 c]ta9 cases1 an
 increase 9 ! limitation on ! exclusion 
= ga9s f a sale or ex*ange ( a pr9cipal 
resid5ce4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,s5ior ,h\s+ ,improvem5t & 
,retirem5t ,acc\nts ,act ( #bjag or !   
,s5ior ,h\s+ ,,ira ,act ( #bjag4  #b4   
,increase 9 exclusion limitation = ga9s 
f c]ta9 sales ( pr9cipal resid5ces  7a7 
,9 g5]al ,subsection 7b7 ( section #aba 
( ! ,int]nal ,rev5ue ,code ( #aihf is   
am5d$ by add+ at ! end ! foll[+ new     
p>agraph3  7#f7 ,special rules = c]ta9  
taxpay]s  7,a7 ,9 g5]al ,9 ! case ( a   
qualifi$ individual1 p>agraph 7#a7 %all 
be appli$ by ins]t+ ! sum ( be=e        
#bej1jjj & by ins]t+ & ! am\nt treat$ "u
 p>agraph 7#h7 ( section #djh;,a7c7 z a 

qualifi$ rollov] contribution to a ,ro? 
,,ira ( ! qualifi$ individual ref]r$ to 
9 p>agraph 7#f77;,a7 aft] #bej1jjj4     
7,b7 ,qualifi$ individual ,! t]m        
qualifi$ individual means1 ) respect to 
a sale or ex*ange ( prop]ty to :i*      
subsection 7a7 applies1 an individual   
:o--  7i7 has atta9$ ! age ( #ee be=e ! 
date ( su* sale or ex*ange1  7ii7 has   
own$ & us$ ! prop]ty z su* individual's 
pr9cipal resid5ce = a p]iod ( n less ?an
 #bj ye>s1 &  7iii7 has n previ\sly     
elect$ to treat a contribution to a ,ro?
 ,,ira z a qualifi$ rollov] contribution
 "u p>agraph 7#h7 ( section #djh;,a7c74 
,9 ! case ( a jo9t return1 own]%ip & use
 ( ! prop]ty by an individual's sp\se   
%all be tak5 into acc\nt z own]%ip & use
 by su* individual4  4  7b7 ,remov+ ,ro?
 ,,ira contribution limits  7#a7 ,9     
g5]al ,subsection 7c7 ( section #djh;,a 
( su* ,code is am5d$ by add+ at ! end ! 
foll[+ new p>agraph3  7#h7 ,proce$s f   
sales ( c]ta9 resid5ces treat$ z rollov]
 contributions  7,a7 ,9 g5]al ,9 ! case 

( a qualifi$ individual 7z def9$ 9      
subsection 7b77#f77;,b7 ( section #aba71
 a contribution to a ,ro? ,,ira ( ga9 f 
a sale or ex*ange ( prop]ty describ$ 9  
subsection 7a7 ( su* section may be     
treat$1 at ! election ( su* taxpay]1 z a
 qualifi$ rollov] contribution f a ,ro? 
,,ira = purposes ( ?is section4  7,b7   
,limitation ,! am\nt ( ga9 t may be     
treat$ z a qualifi$ rollov] contribution
 "u subp>agraph 7,a7 = a taxpay] may n  
exce$ ! excess (--  7i7 ! ga9 f ! sale  
or ex*ange describ$ 9 subp>agraph 7,a71 
ov]  7ii7 ! am\nt t w\ld 7)\t reg>d to  
p>agraph 7#f7 ( subsection 7b7 ( su*    
section7 be exclud$ f gross income "u   
subsection 7a7 ( section #aba4  4  7c7  
,effective date ,! am5dm5t made by ?is  
section %all apply ) respect to sales or
 ex*anges ( prop]ty 9 taxable ye>s      
beg9n+ aft] ! date ( ! enactm5t ( ?is   
,act4