US Congress House Bill 5637 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on September 18 2014 - 25% progression, died in committee
Action: 2014-09-18 - 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 2014 - 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 2014

Rep. Scott Peters [D-CA]

Rep. Juan Vargas [D-CA]

Date	Chamber	Action
2014-09-18	House	Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/5637/all-info
Text	https://www.congress.gov/113/bills/hr5637/BILLS-113hr5637ih.pdf