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H.R. 6406 (114th): To amend the Internal Revenue Code of 1986 to extend for two years the exclusion from gross income of discharge of qualified principal residence indebtedness.

The text of the bill below is as of Nov 30, 2016 (Introduced).


I

114th CONGRESS

2d Session

H. R. 6406

IN THE HOUSE OF REPRESENTATIVES

November 30, 2016

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 for two years the exclusion from gross income of discharge of qualified principal residence indebtedness.

1.

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 January 1, 2017 both places it appears and inserting January 1, 2019.

(b)

Effective date

The amendment made by this section shall apply to indebtedness discharged after December 31, 2016.