S. 2555 — Mortgage Cancellation Relief Act of 2000

Summary

Mortgage Cancellation Relief Act of 2000 - 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.

Full Text

Related Legislation

H.R. 1690Mortgage Cancellation Relief Act of 1999
1999-05-05Referred to the House Committee on Ways and Means.
Related

Legislative Actions

2000-05-15
Introduced in Senate
2000-05-15
Sponsor introductory remarks on measure. (CR S3947)
2000-05-15
Read twice and referred to the Committee on Finance.

Mortgage Cancellation Relief Act of 2000

Sponsors

Subjects

Summary

Full Text

Related Legislation

Legislative Actions

Ask about this bill