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

Bill: 113-hr-5785
Sponsor: full_name: Rep. Grayson, Alan [D-FL-9]
Introduced: 2014-12-03
Policy area: Taxation
Subjects: Housing finance and home ownership

Income tax exclusion
Latest action: action_date: 2014-12-03
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2014-12-03
action_desc: Introduced in House
text: <p>Amends the Internal Revenue Code to make permanent the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence.</p>

tv_txt: I 113th CONGRESS 2d Session H. R. 5785 IN THE HOUSE OF REPRESENTATIVES December 3, 2014 Mr. Grayson 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 make permanent the exclusion from gross income of discharges of qualified principal residence indebtedness.

1. Permanent exclusion from gross income of discharge of qualified principal residence indebtedness Subparagraph (E) of section 108(a)(1) of the Internal Revenue Code of 1986 is amended by striking “which is discharged before January 1, 2014”.