,i  #aaith ,,congress  #b;d ,session    
,h4 ,r4 #ijfd  ,,in ,,the ,,house ,,of  
,,representatives  ,may #bi1 #bjbf,ms4  
,malliotakis 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 temporarily increase 
the capital gains exclusion for any     
qualifying senior who sells a principal 
residence during a qualifying year1 and 
for other purposes4  #a4 ,temporary     
increase to capital gains exclusion for 
sale of a primary residence by a senior 
7a7 ,in general ,section #aba7;b7 of the
 ,internal ,revenue ,code of #aihf is   
amended by adding at the end the        
following new paragraph3  7#f7 ,special 
increased exclusion for sales by certain
 seniors during taxable years #bjbg     
through #bjcj  7,a7 ,in general ,in the 
case of a sale or exchange of a         
qualifying residence after ,december    
#ca1 #bjbf1 and before ,january #a1     
#bjca--  7i7 in the case a qualifying   

senior who is not married on the date of
 such sale or exchange1 paragraph 7#a7  
shall be applied by substituting        
#a1jjj1jjj for #bej1jjj1  7ii7 the case 
of married individuals who make a joint 
return for the taxable year of such sale
 or exchange1 if either spouse is a     
qualifying senior1 paragraphs 7#b7 and  
7#d7 shall each be applied by           
substituting #a1jjj1jjj for #ejj1jjj    
each place it appears1 and  7iii7 in the
 case of a qualifying senior who is     
married and makes a separate return for 
the taxable year of such sale or        
exchange1 paragraph 7#a7 shall be       
applied by substituting #ejj1jjj for    
#bej1jjj44  7,b7 ,qualifying senior ,for
 purposes of this paragraph1 the term   
qualifying senior means an individual   
who is at least #fe years old on the    
date of such sale or exchange4  7,c7    
,qualifying residence ,for purposes of  
this paragraph1 the term qualifying     
residence means a principal residence   
that has been owned by the taxpayer 7in 

the case of a joint return1 by either   
spouse7 for at least #be years4  4  7b7 
,effective date ,the amendment made by  
this section shall apply to taxable     
years beginning after ,december #ca1    
#bjbf4