H.R. 2275 - Mortgage Debt Tax Forgiveness Act of 2021
H.R. 2275; Mortgage Debt Tax Forgiveness Act of 2021
- AuthorsBrownley, Rep. Julia
- Institutional AuthorsU.S. House of Representatives
- Code Sections
- Subject Area/Tax Topics
- Jurisdictions
- Tax Analysts Document Number2021-14618
- Tax Analysts Electronic Citation2021 TNTF 68-19
117TH CONGRESS
1ST SESSION
H.R. 2275
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
MARCH 29, 2021
Ms. BROWNLEY introduced the following bill;
which was referred to the Committee on _____
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 2021".
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
- AuthorsBrownley, Rep. Julia
- Institutional AuthorsU.S. House of Representatives
- Code Sections
- Subject Area/Tax Topics
- Jurisdictions
- Tax Analysts Document Number2021-14618
- Tax Analysts Electronic Citation2021 TNTF 68-19