A bill to amend the Internal Revenue Code of 1954 to provide that participating in certain shared-housing arrangements does not make an individual ineligible for the one-time exclusion of gain from sale of principal residence by individuals who have attained age 55.

Amends the Internal Revenue Code to provide that participating in certain shared-housing arrangements does not make a taxpayer ineligible for the one-time exclusion of gain from sale of a principal residence by individuals who have attained age 55. Defines a "shared-housing arrangement" as an arrangement under which two or more unrelated individuals, at least one of whom has attained age 60 or is handicapped, share housing facilities.