Summary: H.R.1690 — 106th Congress (1999-2000)All Information (Except Text)

There is one summary for H.R.1690. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (05/05/1999)

Mortgage Cancellation Relief Act of 1999 - Amends the Internal Revenue Code to exclude from individual gross income the discharge of qualified residential indebtedness in excess of the outstanding principal of such indebtedness (prior to discharge) over the sum of any sales proceeds and any other outstanding principal indebtedness secured by the property.