H.R. 406 (103rd): To amend the Internal Revenue Code of 1986 to modify the involuntary conversion rules for certain disaster-related conversions.

Introduced:
Jan 05, 1993 (103rd Congress, 1993–1994)
Sponsor:
Rep. Fortney “Pete” Stark [D-CA13]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on January 5, 1993, in a previous session of Congress, but was not enacted.

Progress
Introduced Jan 05, 1993
Cosponsors
22 cosponsors (21D, 1I) (show)
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Summary

No summaries available.

Text

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Last updated Jan 05, 1993.
4 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

1/5/1993--Introduced.
Amends the Internal Revenue Code to provide special rules with respect to the nonrecognition of gain for principal residences compulsorily or involuntarily converted as a result of a presidentially-declared disaster. Requires the nonrecognition of gain of insurance proceeds for the contents of such residences. Allows insurance proceeds from personal property and real property to be lumped together into one common fund. Extends the time to replace a principal residence from two years to four years.

House Republican Conference Summary

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