US Congress Senate Bill 3224 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on May 23 2012 - 25% progression, died in committee
Action: 2012-05-23 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Homeowners and Military Families Tax Fairness Act - Amends the Internal Revenue Code to: (1) extend through 2015 the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence, (2) extend through 2012 the tax deduction for mortgage insurance premiums, and (3) exclude from gross income any National Mortgage Settlement amount. Defines "National Mortgage Settlement amount" as any amount received pursuant to the settlement in a legal action against Bank of America Corporation filed in U.S. District Court on March 12, 2012, which is: (1) a payment for transitional assistance; (2) a payment from the Borrower Payment Fund under the National Mortgage Settlement to a borrower whose home was finally sold or taken in foreclosure after December 31, 2007, and before January 1, 2012; or (3) a payment received as a result of a foreclosure that the Attorney General has determined was not in compliance with the Servicemembers Civil Relief Act.

Homeowners and Military Families Tax Fairness Act

Sen. Debbie Stabenow [D-MI]

Date	Chamber	Action
2012-05-23	Senate	Read twice and referred to the Committee on Finance.

HB4202 (Related) 2012-03-19 - Referred to the House Committee on Ways and Means.
HB4250 (Related) 2012-03-22 - Referred to the House Committee on Ways and Means.
HB4290 (Related) 2012-03-28 - Referred to the House Committee on Ways and Means.
HB4336 (Related) 2012-03-29 - Referred to the House Committee on Ways and Means.
SB2250 (Related) 2012-03-29 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/senate-bill/3224/all-info
Text	https://www.congress.gov/112/bills/s3224/BILLS-112s3224is.pdf