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HR 4290 112th Congress House

Homeowner Tax Fairness Act

Official title: To amend the Internal Revenue Code of 1986 to extend the income exclusion for discharge of qualified principal residence indebtedness, to provide exclusions fr… Show full official titleShow less

Official title: To amend the Internal Revenue Code of 1986 to extend the income exclusion for discharge of qualified principal residence indebtedness, to provide exclusions from income for certain payments under the National Mortgage Settlement, and for other purposes.

Introduced: April 26, 2012 See on congress.gov
Taxation Civil actions and liabilityHousing finance and home ownershipIncome tax deductionsIncome tax exclusion
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 28, 2012
Referred to the House Committee on Ways and Means.
Mar 28, 2012
Sponsor introductory remarks on measure. (CR E477)
Mar 28, 2012
Introduced in House
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 Latest action March 28, 2012

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Homeowner Tax Fairness Act - Amends the Internal Revenue Code to: (1) extend through 2015 the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence, (2) extend through 2014 the tax deduction for mortgage insurance premiums, (3) exclude from gross income any National Mortgage Settlement amount, and (4) deny a tax deduction for any National Mortgage Settlement amount paid in exchange for a full release of the potential civil claims of the United States under the Servicemembers Civil Relief Act.

Defines "National Mortgage Settlement amount" as any amount received pursuant to the settlement in a legal action against Bank of America Corporation filed in U.S. District Court on March 12, 2012, which is: (1) a payment for transitional assistance; (2) a payment from the Borrower Payment Fund under the National Mortgage Settlement to a borrower whose home was finally sold or taken in foreclosure after December 31, 2007, and before January 1, 2012; or (3) a payment received as a result of a foreclosure or excess charge of interest that the Department of Justice (DOJ) has determined was not in compliance with the Servicemembers Civil Relief Act.

 Related & companion bills 5
  • HR 4202 Related bill To amend the Internal Revenue Code of 1986 to extend the exclusion from gross income of discharges of qualified princip…
  • HR 4250 Related bill To amend the Internal Revenue Code of 1986 to provide a 3-year extension of the exclusion of income from the discharge …
  • HR 4336 Related bill To amend the Internal Revenue Code of 1986 to extend the exclusion from gross income of discharges of qualified princip…
  • S 2250 Related bill Mortgage Forgiveness Tax Relief Act
  • S 3224 Related bill Homeowners and Military Families Tax Fairness Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 32
All 32 Democratic 19
D
Bonamici, Suzanne
Oregon · Nov 28, 2012
Ellison, Keith
· Nov 16, 2012
 D
Chu, Judy
California · Sep 21, 2012
 D
Lynch, Stephen F.
Massachusetts · Sep 21, 2012
 D
Waters, Maxine
California · Sep 21, 2012
 D
DeLauro, Rosa L.
Connecticut · Sep 19, 2012
 D
Smith, Adam
Washington · Jun 28, 2012
 D
Hirono, Mazie K.
Hawaii · May 15, 2012
 D
Schiff, Adam B.
California · May 15, 2012
WOOLSEY, LYNN
· May 15, 2012
FILNER, BOB
· May 8, 2012
 D
Castor, Kathy
Florida · May 7, 2012
KUCINICH, DENNIS
· May 7, 2012
 D
Schakowsky, Janice D.
Illinois · May 7, 2012
 D
Baldwin, Tammy
Wisconsin · Apr 26, 2012
CUMMINGS, ELIJAH
· Apr 26, 2012
 D
Davis, Danny K.
Illinois · Apr 26, 2012
GUTIERREZ, LUIS
· Apr 26, 2012
 D
Lofgren, Zoe
California · Apr 26, 2012
 D
McGovern, James P.
Massachusetts · Apr 26, 2012
 D
Norton, Eleanor Holmes
District of Columbia · Apr 26, 2012
ROSS, MIKE
· Apr 26, 2012
TOWNS, EDOLPHUS
· Apr 26, 2012
Tsongas, Niki
· Apr 26, 2012
BECERRA, XAVIER
· Mar 28, 2012
BERKLEY, SHELLEY
· Mar 28, 2012
CROWLEY, JOSEPH
· Mar 28, 2012
 D
Doggett, Lloyd
Texas · Mar 28, 2012
 D
Larson, John B.
Connecticut · Mar 28, 2012
LEVIN, SANDER
· Mar 28, 2012
 D
Neal, Richard E.
Massachusetts · Mar 28, 2012
 D
Thompson, Mike
California · Mar 28, 2012
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 4290: Homeowner Tax Fairness Act. 112th Congress. Open America. https://openamerica.io/bill/112-HR-4290/
MLA
"H.R. 4290: Homeowner Tax Fairness Act." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-4290/.
Bluebook (legal)
H.R. 4290, 112th Cong. (2026), https://openamerica.io/bill/112-HR-4290/.
Markdown link
[H.R. 4290: Homeowner Tax Fairness Act](https://openamerica.io/bill/112-HR-4290/)
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