To amend the Internal Revenue Code of 1986 to provide a partial exclusion for capital gain from certain sales of real property acquired from the Federal Savings and Loan Insurance Corporation.

Amends the Internal Revenue Code to exclude from gross income 50 percent of any gain from the sale or exchange of real property acquired by the taxpayer directly from the Federal Savings and Loan Insurance Corporation after December 31, 1989, and held for at least five years.