HR 1690
106th Congress
House
Taxation
Debtor and creditor
Finance and Financial Sector
Housing and Community Development
Income tax
Mortgage loans
Personal income tax
Tax exclusion
Mortgage Cancellation Relief Act of 1999
Introduced: May 5, 1999
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 5, 1999
Referred to the House Committee on Ways and Means.
May 5, 1999
Sponsor introductory remarks on measure. (CR E874-875)
May 5, 1999
Introduced in House
Plain-English summary
Mortgage Cancellation Relief Act of 1999 - Amends the Internal Revenue Code to exclude from individual gross income the discharge of qualified residential indebtedness in excess of the outstanding principal of such indebtedness (prior to discharge) over the sum of any sales proceeds and any other outstanding principal indebtedness secured by the property.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1