- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Ways and MeansIntroducedJanuary 13th, 2014
- house Committees
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Homeowners Debt Relief Extension Act of 2014
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.
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.