[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1002 Introduced in House (IH)]

114th CONGRESS
  1st Session
                                H. R. 1002

 To amend the Internal Revenue Code of 1986 to extend for 2 years the 
   exclusion from gross income of discharges of qualified principal 
                        residence indebtedness.


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                    IN THE HOUSE OF REPRESENTATIVES

                           February 13, 2015

Mr. Reed (for himself, Mr. Rangel, Mr. Heck of Nevada, Mr. Paulsen, Mr. 
 Young of Indiana, Mr. Tiberi, Mr. Buchanan, Mr. Schock, Mr. Neal, Mr. 
   Thompson of California, Mr. Larson of Connecticut, Mr. Kind, Mr. 
McDermott, Mr. Blumenauer, Mr. Kelly of Pennsylvania, and Mr. Pascrell) 
 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 2 years the 
   exclusion from gross income of discharges of qualified principal 
                        residence indebtedness.

    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 Forgiveness Tax Relief Act 
of 2015''.

SEC. 2. TWO-YEAR 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, 2015'' and inserting 
``January 1, 2017''.
    (b) Effective Date.--The amendment made by this section shall apply 
to indebtedness discharged after December 31, 2014.
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