I
113th CONGRESS
1st Session
H. R. 2788
IN THE HOUSE OF REPRESENTATIVES
July 23, 2013
Mr. Heck of Nevada introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To prevent homeowners from being forced to pay taxes on forgiven mortgage loan debt.
Short title
This Act may be cited as the
Mortgage Forgiveness Tax Relief
Act
.
Extension of exclusion from gross income of discharge of qualified principal residence indebtedness
In general
Subparagraph (E) of section 108(a)(1) of the Internal
Revenue Code of 1986 is amended by striking January 1, 2014
and
inserting January 1, 2016
.
Effective date
The amendment made by this section shall apply to indebtedness discharged after December 31, 2013.