H.R.1784

To amend the Internal Revenue Code of 1986 to encourage the purchase of residential property by providing an exclusion from tax on certain gains.

3/30/2009--Introduced.

Investment Property Opportunity Act of 2009 - Amends the Internal Revenue Code to exclude from gross income gain from the sale of residential real property that is: (1) located in a distressed housing area (i.e., a county with high foreclosure rates and declining housing fair market values); (2) acquired within 18 months after enactment of this Act; and (3) held for more than three years.

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