I 112th CONGRESS 2d Session H. R. 4202 IN THE HOUSE OF REPRESENTATIVES March 19, 2012 Mr. Rangel (for himself, Mr. Levin, Mr. Stark, Mr. McDermott, Mr. Lewis of Georgia, Mr. Neal, Mr. Becerra, Mr. Thompson of California, Mr. Larson of Connecticut, Mr. Blumenauer, Mr. Kind, Mr. Pascrell, Ms. Berkley, and Mr. Crowley) 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 the exclusion from gross income of discharges of qualified principal residence indebtedness.

1.

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, 2013 and inserting January 1, 2015. (b)

Effective date

The amendment made by this section shall apply to indebtedness discharged after December 31, 2012.