Bill Summary for H 704 (2015-2016)

Summary date: 

Apr 15 2015

Bill Information:

View NCGA Bill Details2015-2016 Session
House Bill 704 (Public) Filed Tuesday, April 14, 2015
AN ACT TO PROVIDE TAX RELIEF FOR MORTGAGE DEBT CANCELLATION.
Intro. by Blackwell, Torbett, Carney, Glazier.

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Bill summary

Repeals GS 105-153.5(d)(1) as enacted by SL 2015-2. The repealed subdivision required a taxpayer to add, for taxable year 2014, the amount excluded from the taxpayer's adjusted gross income for the discharge of qualified principal residence indebtedness under section 108 of the Internal Revenue Code.

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