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house Bill H.R. 3856

Homeowners Debt Relief Extension Act of 2014

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      Committee on Ways and Means
    IntroducedJanuary 13th, 2014

Bill Details

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Title

Homeowners Debt Relief Extension Act of 2014

Official Title

To amend the Internal Revenue Code of 1986 to provide a 2-year extension of the exclusion from gross income for the discharge of qualified principal residence indebtedness, and for other purposes.

Summary

Homeowners Debt Relief Extension Act of 2014 - Amends the Internal Revenue Code to: (1) extend through 2015 the exclusion from gross income of imputed income from the discharge of indebtedness with respect to a principal residence; and (2) exclude from the definition of "domestic production gross receipts" for purposes of the tax deduction for income attributable to domestic production activities, gross receipts of a major integrated oil company (i.e., a company which has an average daily worldwide production of crude oil of at least 500,000 barrels for the taxable year and gross receipts in excess of $1 billion for its last taxable year ending during 2005) from the production, transportation, or distribution of oil, natural gas, or any primary product thereof.

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