Bill Sponsor
BILLSPONSOR
Bill Sponsor
Politicians
Bills
Senate Bill 122
115th Congress(2017-2018)
Mortgage Debt Tax Relief Act
Introduced
Introduced
Introduced in Senate on Jan 12, 2017
Overview
Text
Introduced in Senate 
Jan 12, 2017
Not Scanned for Linkage
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
Introduced in Senate(Jan 12, 2017)
Jan 12, 2017
Not Scanned for Linkage
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
Jump To
S. 122 (Introduced-in-Senate)


115th CONGRESS
1st Session
S. 122


To prevent homeowners from being forced to pay taxes on forgiven mortgage loan debt.

IN THE SENATE OF THE UNITED STATES

January 12, 2017

Mr. Heller (for himself, Ms. Stabenow, Mr. Isakson, and Mr. Menendez) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To prevent homeowners from being forced to pay taxes on forgiven mortgage loan debt.

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 Relief Act”.

SEC. 2. 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, 2017” each place 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.