Text: H.R.110 — 115th Congress (2017-2018)All Information (Except Text)

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Introduced in House (01/03/2017)


115th CONGRESS
1st Session
H. R. 110


To amend the Internal Revenue Code of 1986 to make permanent the exclusion from gross income of discharge of qualified principal residence indebtedness.


IN THE HOUSE OF REPRESENTATIVES

January 3, 2017

Ms. Brownley of California 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 make permanent the exclusion from gross income of discharge 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. Short title.

This Act may be cited as the “Mortgage Debt Tax Forgiveness Act of 2017”.

SEC. 2. Permanent extension of exclusion from gross income of discharge of qualified principal residence indebtedness.

(a) In general.—Section 108(a)(1)(E) of the Internal Revenue Code of 1986 is amended by striking “which is discharged” and all that follows and inserting a period.

(b) Effective date.—The amendment made by this section shall apply to indebtedness discharged after December 31, 2016.