H.R. 4202 (112th): To amend the Internal Revenue Code of 1986 to extend the exclusion from gross income of discharges ...

...of qualified principal residence indebtedness.

112th Congress, 2011–2013. Text as of Mar 19, 2012 (Introduced).

Status & Summary | PDF | Source: GPO

I

112th CONGRESS

2d Session

H. R. 4202

IN THE HOUSE OF REPRESENTATIVES

March 19, 2012

(for himself, Mr. Levin, Mr. Stark, Mr. McDermott, Mr. Lewis of Georgia, Mr. Neal, Mr. Becerra, Mr. Thompson of California, Mr. Larson of Connecticut, Mr. Blumenauer, Mr. Kind, Mr. Pascrell, Ms. Berkley, and Mr. Crowley) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to extend the exclusion from gross income of discharges of qualified principal residence indebtedness.

1.

Extension of exclusion from gross income of discharge of qualified principal residence indebtedness

(a)

In general

Subparagraph (E) of section 108(a)(1) of the Internal Revenue Code of 1986 is amended by striking January 1, 2013 and inserting January 1, 2015.

(b)

Effective date

The amendment made by this section shall apply to indebtedness discharged after December 31, 2012.