H.R. 3506, The Foreclosure Tax Relief Act of 2007
- This bill has been mooted by the passage of another bill on the same subject or by other events. Check 'Related Bills' below to see if other bills on this subject have been passed into law. Mooted: 12/20/2007.
- This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
H.R. 3506 would amend the Internal Revenue Code of 1986 to exclude from gross income certain amounts of cancellation of indebtedness income on account of a foreclosure on the mortgage secured by the principal residence of the taxpayer.