summary
Introduced
01/12/2017
01/12/2017
In Committee
01/12/2017
01/12/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
Mortgage Debt Tax Relief Act This bill amends the Internal Revenue Code to extend through 2018 the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence.
AI Summary
This bill extends through 2018 the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence. Specifically, it amends the Internal Revenue Code to strike the date of January 1, 2017 and replace it with January 1, 2019, effectively extending the exclusion for an additional two years. This provision allows homeowners who have had mortgage debt forgiven to avoid paying taxes on that forgiven amount.
Committee Categories
Budget and Finance
Sponsors (8)
Dean Heller (R)*,
Sherrod Brown (D),
Kirsten Gillibrand (D),
Johnny Isakson (R),
Bob Menendez (D),
Jeff Merkley (D),
Bernie Sanders (I),
Debbie Stabenow (D),
Last Action
Read twice and referred to the Committee on Finance. (on 01/12/2017)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/115th-congress/senate-bill/122/all-info |
| BillText | https://www.congress.gov/115/bills/s122/BILLS-115s122is.pdf |
| Bill | https://www.congress.gov/115/bills/s122/BILLS-115s122is.pdf.pdf |
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