[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4202 Introduced in House (IH)]

112th CONGRESS
  2d Session
                                H. R. 4202

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


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                    IN THE HOUSE OF REPRESENTATIVES

                             March 19, 2012

Mr. Rangel (for himself, Mr. Levin, Mr. Stark, Mr. McDermott, Mr. Lewis 
  of Georgia, Mr. Neal, Mr. Becerra, Mr. Thompson of California, Mr. 
  Larson of Connecticut, Mr. Blumenauer, Mr. Kind, Mr. Pascrell, Ms. 
  Berkley, and Mr. Crowley) 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 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. EXTENSION OF EXCLUSION FROM GROSS INCOME OF DISCHARGE OF 
              QUALIFIED PRINCIPAL RESIDENCE INDEBTEDNESS.

    (a) In General.--Subparagraph (E) of section 108(a)(1) of the 
Internal Revenue Code of 1986 is amended by striking ``January 1, 
2013'' and inserting ``January 1, 2015''.
    (b) Effective Date.--The amendment made by this section shall apply 
to indebtedness discharged after December 31, 2012.
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