US Congress House Bill 2640 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on June 3 2015 - 25% progression, died in committee
Action: 2015-06-03 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

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.

Consumer Debt Forgiveness Tax Relief Act of 2015

Rep. Scott Peters [D-CA]	Rep. Duncan Hunter [R-CA]	Rep. Tom Reed [R-NY]	Rep. Ed Perlmutter [D-CO]
Rep. Linda Sanchez [D-CA]	Rep. Robert Pittenger [R-NC]	Rep. Ann Kuster [D-NH]

Date	Chamber	Action
2015-06-03	House	Referred to the House Committee on Ways and Means.
2015-06-03	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/2640/all-info
Text	https://www.congress.gov/114/bills/hr2640/BILLS-114hr2640ih.pdf