HR 3506
110th Congress
House
Taxation
Housing and Community Development
Housing finance
Income tax
Mortgages
Tax exclusion
Foreclosure Tax Relief Act of 2007
Introduced: September 7, 2007
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 7, 2007
Referred to the House Committee on Ways and Means.
Sep 7, 2007
Introduced in House
Plain-English summary
Foreclosure Tax Relief Act of 2007 - Amends the Internal Revenue Code to exclude from gross income up to $50,000 of the amount attributable to a discharge of mortgage indebtedness or to a refinancing of a principal residence. Limits such tax exclusion to taxpayers with modified adjusted gross incomes of $100,000 or less ($200,000 in the case of a joint tax return).
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1