A bill to amend the Internal Revenue Code of 1954 to extend the rollover period for nonrecognition of gain on the sale of principal residences sold during 1980 or 1981.

Amends the Internal Revenue Code to extend to 36 months the rollover period for nonrecognition of gain on the sale of principal residences sold in 1980 and to 24 months for those sold in 1981 (currently, such rollover period is 18 months prior to or following the date of sale).