To amend section 1033 of the Internal Revenue Code of 1954.

Provides, under the Internal Revenue Code, that if real property held for investment is compulsorily or involuntarily converted into money after December 31, 1970, as a result of condemnation, or threat or imminence thereof, replacement property shall be treated as property similar or related in service or use to the property so converted. (Amends 26 U.S.C. 1033)