A bill to amend the Internal Revenue Code of 1986 to extend the period of time to acquire a new residence for purposes of nonrecognition of gain on the sale of an old residence for members of the Armed Forces of the United States.

Amends the Internal Revenue Code to extend from one year to two years the period of time to acquire a new residence for purposes of nonrecognition of gain on the sale of an old residence for members of the armed forces who are required to reside in Government quarters or are stationed outside the United States.