summary
Introduced
03/29/2021
03/29/2021
In Committee
03/29/2021
03/29/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
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.
AI Summary
This bill, the Mortgage Debt Tax Forgiveness Act of 2021, aims to make permanent the exclusion from gross income for the discharge of qualified principal residence indebtedness under the Internal Revenue Code of 1986. This means that if a homeowner's mortgage debt is forgiven or canceled, the forgiven amount will not be considered taxable income. The amendment made by this bill would apply to indebtedness discharged after December 31, 2025, effectively making the exclusion a permanent feature of the tax code.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Referred to the House Committee on Ways and Means. (on 03/29/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/house-bill/2275/all-info | 03/30/2021 |
| BillText | https://www.congress.gov/117/bills/hr2275/BILLS-117hr2275ih.pdf | 05/27/2021 |
| Bill | https://www.congress.gov/117/bills/hr2275/BILLS-117hr2275ih.pdf.pdf | 05/27/2021 |
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