H.R. 4205 · 111th Congress

To extend certain housing-related deadlines in the Heartland Disaster Tax Relief Act of 2008.

Stage
In committee
Introduced
2009-12-03
Latest action
2009-12-03 · Introduced in House

Summary

Amends the Heartland Disaster Tax Relief Act of 2008 to extend through 2010 provisions of such Act allowing residents of the Midwestern disaster area to: (1) use amounts from tax-exempt retirement accounts without a tax penalty to purchase a new principal residence or repair an existing one; (2) recontribute amounts withdrawn for such purposes to such accounts; and (3) exclude from gross income income resulting from a cancellation of mortgage indebtedness incurred in such disaster area.