I 112th CONGRESS 2d Session H. R. 4250 IN THE HOUSE OF REPRESENTATIVES March 22, 2012 Mr. Daniel E. Lungren of California 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 provide a 3-year extension of the exclusion of income from the discharge of indebtedness on qualified principal residences.

1.

3–Year extension of exclusion of income from discharge of indebtedness on qualified principal residences

(a)

Extension

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, 2016. (b)

Effective date

The amendment made by this section shall apply to discharges of indebtedness occurring after the date of the enactment of this Act.