US Congress House Bill 3366 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on July 24 2017 - 25% progression, died in committee
Action: 2017-07-24 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Senior Housing IRA Act of 2017 Senior Housing Improvement and Retirement Accounts Act of 2017 This bill amends the Internal Revenue Code, with respect to the tax treatment of gains from the sale or exchange of a principal residence, to: (1) allow a qualified individual to contribute the gains from the sale or exchange to a Roth Individual Retirement Arrangement (IRA) as a qualified rollover contribution which is exempt from contribution limits, and (2) increase the $250,000 limit on the exclusion from gross income for gains from the sale of a principal residence by the amount of the rollover contribution. The bill applies to individuals who: (1) have attained the age of 55 before the date of the sale or exchange, (2) have owned and used the property as a principal residence for at least 20 years, and (3) have not previously elected to treat a contribution to a Roth IRA as a qualified rollover contribution under the authority provided by this bill.

Senior Housing IRA Act of 2017 Senior Housing Improvement and Retirement Accounts Act of 2017

Rep. Josh Gottheimer [D-NJ]

Rep. John Katko [R-NY]

Date	Chamber	Action
2017-07-24	House	Referred to the House Committee on Ways and Means.
2017-07-24	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/3366/all-info
Text	https://www.congress.gov/115/bills/hr3366/BILLS-115hr3366ih.pdf