Bill Summary for H 704 (2015-2016)
Printer-friendly: Click to view
Summary date:
Apr 15 2015
Bill Information:
| View NCGA Bill Details(link is external) | 2015-2016 Session |
AN ACT TO PROVIDE TAX RELIEF FOR MORTGAGE DEBT CANCELLATION.Intro. by Blackwell, Torbett, Carney, Glazier.
| View: All Summaries for Bill | Tracking: |
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 The repealed subdivision required a taxpayer to add, for taxable year 2014, the amount excluded from the taxpayer's adjusted gross income for the discharge of qualified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.