To amend the Internal Revenue Code of 1986 to extend for one year the exclusion from gross income of discharge of qualified principal residence indebtedness.

Bill: 114-hr-6405
Sponsor: full_name: Rep. Grayson, Alan [D-FL-9]
Introduced: 2016-11-30
Policy area: Taxation
Subjects: Housing finance and home ownership

Income tax exclusion
Latest action: action_date: 2016-11-30
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2016-11-30
action_desc: Introduced in House
text: <p>This bill amends the Internal Revenue Code to extend until January 1, 2018, the exclusion from gross income of the discharge of qualified principal residence indebtedness. </p>

tv_txt: I 114th CONGRESS 2d Session H. R. 6405 IN THE HOUSE OF REPRESENTATIVES November 30, 2016 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 extend for one year 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, 2018 . (b) Effective date The amendment made by this section shall apply to indebtedness discharged after December 31, 2016.