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H.R. 2275 - Mortgage Debt Tax Forgiveness Act of 2021

MAR. 22, 2021

H.R. 2275; Mortgage Debt Tax Forgiveness Act of 2021

DATED MAR. 22, 2021
DOCUMENT ATTRIBUTES
  • Authors
    Brownley, Rep. Julia
  • Institutional Authors
    U.S. House of Representatives
  • Code Sections
  • Subject Area/Tax Topics
  • Jurisdictions
  • Tax Analysts Document Number
    2021-14618
  • Tax Analysts Electronic Citation
    2021 TNTF 68-19
Citations: H.R. 2275; Mortgage Debt Tax Forgiveness Act of 2021

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

DOCUMENT ATTRIBUTES
  • Authors
    Brownley, Rep. Julia
  • Institutional Authors
    U.S. House of Representatives
  • Code Sections
  • Subject Area/Tax Topics
  • Jurisdictions
  • Tax Analysts Document Number
    2021-14618
  • Tax Analysts Electronic Citation
    2021 TNTF 68-19
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