Text: H.R.4336 — 112th Congress (2011-2012)All Information (Except Text)

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Introduced in House (03/29/2012)


112th CONGRESS
2d Session
H. R. 4336


To amend the Internal Revenue Code of 1986 to extend the exclusion from gross income of discharges of qualified principal residence indebtedness.


IN THE HOUSE OF REPRESENTATIVES

March 29, 2012

Mr. Reed (for himself, Mr. Schock, Mr. Boustany, Mr. Herger, Mr. Berg, Ms. Jenkins, Mr. Marchant, Mr. Buchanan, Mr. Brady of Texas, Mr. Davis of Kentucky, and Mr. Roskam) introduced the following bill; which was referred to the Committee on Ways and Means


A BILL

To amend the Internal Revenue Code of 1986 to extend the exclusion from gross income of discharges of qualified principal residence indebtedness.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Extension of exclusion from gross income of discharge of qualified principal residence indebtedness.

(a) In general.—Subparagraph (E) of section 108(a)(1) of the Internal Revenue Code of 1986 is amended by striking “January 1, 2013” and inserting “January 1, 2014”.

(b) Effective date.—The amendment made by this section shall apply to indebtedness discharged after December 31, 2012.