H.R. 7269 (110th): To amend the Internal Revenue Code of 1986 to exclude from gross income gain from the sale of troubled assets.

Introduced:
Oct 03, 2008 (110th Congress, 2007–2009)
Sponsor:
Rep. Bill Sali [R-ID1]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on October 3, 2008, in a previous session of Congress, but was not enacted.

Progress
Introduced Oct 03, 2008
Cosponsors
none
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Summary

No summaries available.

Text

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Last updated Oct 03, 2008.
3 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

10/3/2008--Introduced.
Amends the Internal Revenue Code to exclude from gross income gain from the sale or exchange of a qualified mortgage or mortgage-related security held for more than one year. Defines "qualified mortgage or mortgage-related security" as any residential or commercial mortgage (or any security, obligation, or other instrument that is based on or related to such a mortgage) that was originated or issued on or before March 14, 2008, and was acquired by the taxpayer after the enactment of this Act and before January 1, 2009.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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