Text: H.R.2788 — 113th Congress (2013-2014)All Information (Except Text)

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Introduced in House (07/23/2013)


113th CONGRESS
1st Session
H. R. 2788


To prevent homeowners from being forced to pay taxes on forgiven mortgage loan debt.


IN THE HOUSE OF REPRESENTATIVES

July 23, 2013

Mr. Heck of Nevada introduced the following bill; which was referred to the Committee on Ways and Means


A BILL

To prevent homeowners from being forced to pay taxes on forgiven mortgage loan debt.

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

SECTION 1. Short title.

This Act may be cited as the “Mortgage Forgiveness Tax Relief Act”.

SEC. 2. 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, 2014” and inserting “January 1, 2016”.

(b) Effective date.—The amendment made by this section shall apply to indebtedness discharged after December 31, 2013.