A bill to amend the Internal Revenue Code of 1954 to extend to 48 months the rollover period for nonrecognition of gain on the sale of a principal residence.

Amends the Internal Revenue Code to extend from 18 to 24 months the period (rollover period) during which a taxpayer must reinvest the proceeds from the sale of a principal residence in a new residence in order to qualify for the nonrecognition of any gain from such sale.