H.R. 2640 · 114th Congress
Consumer Debt Forgiveness Tax Relief Act of 2015
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
PetersSponsor6 cosponsors · 3 D, 3 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to exclude from gross income, for income tax purposes, income that is imputed to the discharge of qualified consumer indebtedness.
What it does: CRS summary · Introduced in House · Jun 3, 2015
Consumer Debt Forgiveness Tax Relief Act of 2015
Amends the Internal Revenue Code to exclude from gross income, for income tax purposes, income that is imputed to the discharge of qualified consumer indebtedness. Defines "qualified consumer indebtedness" as any indebtedness of a natural person arising out of a transaction in which the money, property, or services that are the subject of the transaction are primarily for personal, family, or household purposes. Provides that the aggregate amount of discharged indebtedness excludible from gross income shall not exceed the excess of $2,500 over the aggregate amounts treated as qualified consumer indebtedness for all prior taxable years.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Consumer Debt Forgiveness Tax Relief Act of 2015
Latest action (Jun 3, 2015): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jun 3, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.