A bill to amend the Internal Revenue Code of 1954 to provide that a disabled individual shall be entitled to the same tax treatment available to an individual who has attained age 65 with regard to gain from the sale or exchange of his principal residence.

Authorizes a taxpayer to elect to exclude the gain from sale or exchange of property from gross income, under the Internal Revenue Code, if the taxpayer is disabled and if such property has been owned and used by the taxpayer as his principal residence for periods aggregating five years or more during the eight-year period ending on the date of the sale or exchange.