Amends the Heartland Disaster Tax Relief Act of 2008 to extend through 2010 provisions of such Act allowing residents of the Midwestern disaster area to: (1) use amounts from tax-exempt retirement accounts without a tax penalty to purchase a new principal residence or repair an existing one; (2) recontribute amounts withdrawn for such purposes to such accounts; and (3) exclude from gross income income resulting from a cancellation of mortgage indebtedness incurred in such disaster area.
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S13883-13884)
Referred to the House Committee on Ways and Means.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S11885-11886)
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S11886)
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