,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #egbf  ,,in ,,the ,,house ,,of  
,,representatives  ,january #cj1        
#bjbj,mr4 ,gottheimer 7for himself and  
,mr4 ,katko7 introduced the following   
bill2 which was referred to the         
,committee on ,ways and ,means  ,a      
,,bill  ,to amend the ,internal ,revenue
 ,code of #aihf to allow1 in certain    
cases1 an increase in the limitation on 
the exclusion for gains from a sale or  
exchange of a principal residence4  #a4 
,short title ,this ,act may be cited as 
the ,senior ,housing ,improvement and   
,retirement ,accounts ,act of #bjbj or  
the ,senior ,housing ,,ira ,act of      
#bjbj4  #b4 ,increase in exclusion      
limitation for gains from certain sales 
of principal residences  7a7 ,in general
 ,subsection 7b7 of section #aba of the 
,internal ,revenue ,code of #aihf is    
amended by adding at the end the        
following new paragraph3  7#f7 ,special 
rules for certain taxpayers  7,a7 ,in   
general ,in the case of a qualified     

individual1 paragraph 7#a7 shall be     
applied by inserting the sum of before  
#bej1jjj and by inserting and the amount
 treated under paragraph 7#h7 of section
 #djh;,a7c7 as a qualified rollover     
contribution to a ,roth ,,ira of the    
qualified individual referred to in     
paragraph 7#f77;,a7 after #bej1jjj4     
7,b7 ,qualified individual ,the term    
qualified individual means1 with respect
 to a sale or exchange of property to   
which subsection 7a7 applies1 an        
individual who--  7i7 has attained the  
age of #ee before the date of such sale 
or exchange1  7ii7 has owned and used   
the property as such individual's       
principal residence for a period of not 
less than #bj years1 and  7iii7 has not 
previously elected to treat a           
contribution to a ,roth ,,ira as a      
qualified rollover contribution under   
paragraph 7#h7 of section #djh;,a7c74   
,in the case of a joint return1         
ownership and use of the property by an 
individual's spouse shall be taken into 

account as ownership and use by such    
individual4  4  7b7 ,removing ,roth     
,,ira contribution limits  7#a7 ,in     
general ,subsection 7c7 of section      
#djh;,a of such ,code is amended by     
adding at the end the following new     
paragraph3  7#h7 ,proceeds from sales of
 certain residences treated as rollover 
contributions  7,a7 ,in general ,in the 
case of a qualified individual 7as      
defined in subsection 7b77#f77;,b7 of   
section #aba71 a contribution to a ,roth
 ,,ira of gain from a sale or exchange  
of property described in subsection 7a7 
of such section may be treated1 at the  
election of such taxpayer1 as a         
qualified rollover contribution from a  
,roth ,,ira for purposes of this        
section4  7,b7 ,limitation ,the amount  
of gain that may be treated as a        
qualified rollover contribution under   
subparagraph 7,a7 for a taxpayer may not
 exceed the excess of--  7i7 the gain   
from the sale or exchange described in  
subparagraph 7,a71 over  7ii7 the amount

 that would 7without regard to paragraph
 7#f7 of subsection 7b7 of such section7
 be excluded from gross income under    
subsection 7a7 of section #aba4  4  7c7 
,effective date ,the amendment made by  
this section shall apply with respect to
 sales or exchanges of property in      
taxable years beginning after the date  
of the enactment of this ,act4