118 HR 3890 IH: Mortgage Debt Tax Forgiveness Act of 2023 U.S. House of Representatives 2023-06-07 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I118th CONGRESS1st SessionH. R. 3890IN THE HOUSE OF REPRESENTATIVESJune 7, 2023Ms. Brownley introduced the following bill; which was referred to the Committee on Ways and MeansA BILLTo amend the Internal Revenue Code of 1986 to make permanent the exclusion from gross income of discharge of qualified principal residence indebtedness.

1.

Short title

This Act may be cited as the Mortgage Debt Tax Forgiveness Act of 2023.

2.

Permanent 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 which is discharged and all that follows and inserting a period. (b)

Effective date

The amendment made by this section shall apply to indebtedness discharged after December 31, 2025.