,i  #aai? ,,congress  #b;d ,session  ,h4
 ,r4 #gdjj  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,febru>y #e1 #bjbf,ms4
 ,mace 7= h]self & ,ms4 ,boeb]t7        
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,ways & ,means  ,a     
,,bill  ,to am5d ! ,int]nal ,rev5ue     
,code ( #aihf to exclude all ga9 f !    
sale ( a pr9cipal resid5ce or any       
resid5ce :i* is sold to a fir/-"t       
homebuy]1 & = o!r purposes4  #a4 ,%ort  
title ,?is ,act may be cit$ z ! ,mak+   
,home[n]%ip ,af=dable ,aga9 ,act4  #b4  
,full exclusion ( ga9 f sale ( pr9cipal 
resid5ce or resid5ce sold to fir/-"t    
homebuy]  7a7 ,elim9ation ( doll>       
limitations on exclusion ( ga9  7#a7 ,9 
g5]al ,section #aba7;b7 ( ! ,int]nal    
,rev5ue ,code ( #aihf is am5d$-- 7,a7 by
 /rik+ p>agraphs 7#a71 7#b71 & 7#d71 &  
7,b7 by r$esignat+ p>agraphs 7#c7 & 7#e7
 z p>agraphs 7#a7 & 7#b71 respectively4 
7#b7 ,con=m+ am5dm5ts  7,a7 ,section    
#aba7;c7 ( su* ,code is am5d$-- 7i7 9   
p>agraph 7#a71 by /rik+ 1 & subsection  

7b77#c7 & all t foll[s ?r\gh #b ye>s &  
ins]t+ 1 & subsection 7b77#a71 %all n   
apply1 &  7ii7 9 p>agraph 7#b77;,a77ii71
 by /rik+ subsection 7b77#c7 & ins]t+   
subsection 7b77#a74  7,b7 ,section      
#aba7;d7 ( su* ,code is am5d$-- 7i7 9   
p>agraph 7#i77;,a71 by /rik+ 9          
subsections 7a7 & 7c77#a77;,b7 & ins]t+ 
9 subsection 7a71 &  7ii7 9 p>agraph    
7#ab77;,a71 by /rik+ 9 subsections 7a7 &
 7c77#a77;,b7 & ins]t+ 9 subsection 7a74
  7b7 ,all[ance ( exclusion ( ga9 f     
sales to fir/-,"t homebuy]s  7#a7 ,9    
g5]al ,section #aba7;c77#b77;,b7 ( su*  
,code is am5d$--  7,a7 by /rik+ ex*ange 
is by reason ( & ins]t+ ex*ange is--    
7i7 by reason (  1  7,b7 by /rik+       
un=ese5 circum/ances4 & ins]t+ un=ese5  
circum/ances1 or1 &  7,c7 by add+ at !  
end ! foll[+3  7ii7 to a fir/-"t        
homebuy]4  4  7#b7  ,fir/-"t homebuy]   
,section #aba7;c7 ( su* ,code1 z am5d$  
by ! prec$+ provisions ( ?is ,act1 is   
am5d$ by add+ at ! end ! foll[+ new     
p>agraph3  7#c7  ,fir/-"t homebuy]  ,=  

purposes ( ?is subsection1 ! t]m fir/-"t
 homebuy] means any individual if su*   
individual 7& if m>ri$1 su* individual's
 sp\se7 _h no pres5t own]%ip int]e/ 9 a 
pr9cipal resid5ce dur+ ! #c-ye> p]iod   
end+ on ! date ( ! sale or ex*ange ( !  
prop]ty to :i* ?is subsection applies4  
4  7c7 ,effective date ,! am5dm5ts made 
by ?is section %all apply to sales &    
ex*anges made aft] ! date ( ! enactm5t (
 ?is ,act4