H.R. 3856 · 113th Congress
Homeowners Debt Relief Extension Act of 2014
- Stage
- In committee
- Sponsor
- Bill Foster
- Introduced
- 2014-01-13
- Latest action
- 2014-01-13 · Introduced in House
Summary
Homeowners Debt Relief Extension Act of 2014 - Amends the Internal Revenue Code to: (1) extend through 2015 the exclusion from gross income of imputed income from the discharge of indebtedness with respect to a principal residence; and (2) exclude from the definition of "domestic production gross receipts" for purposes of the tax deduction for income attributable to domestic production activities, gross receipts of a major integrated oil company (i.e., a company which has an average daily worldwide production of crude oil of at least 500,000 barrels for the taxable year and gross receipts in excess of $1 billion for its last taxable year ending during 2005) from the production, transportation, or distribution of oil, natural gas, or any primary product thereof.