[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[S. 177 Introduced in Senate (IS)]







105th CONGRESS
  1st Session
                                 S. 177

 To provide for a special application of section 1034 of the Internal 
                         Revenue Code of 1986.


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                   IN THE SENATE OF THE UNITED STATES

                            January 21, 1997

  Mr. Inouye introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To provide for a special application of section 1034 of the Internal 
                         Revenue Code of 1986.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, That, in the case of 
Rita Bennington--
            (1) who purchased her new principal residence (within the 
        meaning of section 1034 of the Internal Revenue Code of 1986) 
        in January 1992, and
            (2) who was unable to meet the requirements of such section 
        with respect to the sale of an old principal residence until 
        May 1994, because of unexpected delays caused by Hurricane 
        Iniki,
the Secretary of the Treasury, in the administration of section 1034 of 
the Internal Revenue Code of 1986, shall apply subsection (a) of such 
section by substituting ``2.5 years'' for ``2 years'' each place it 
appears.
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