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AB 7

  • California Assembly Bill
  • 2009-2010, 6th Special Session
  • Introduced in Assembly
  • Assembly
  • Senate
  • Governor

Taxation: cancellation of indebtedness: mortgage debt forgiveness.

Abstract

The Personal Income Tax Law conforms to specified provisions of the federal Mortgage Forgiveness Debt Relief Act of 2007, relating to the exclusion of the discharge of qualified principal residence indebtedness, as defined, from a taxpayer's income if that debt is discharged after January 1, 2007, and before January 1, 2010, as provided. The Emergency Economic Stabilization Act of 2008 extended the operation of those provisions to debt that is discharged before January 1, 2013. This bill would provide further conformity to those federal acts, as provided. This bill would declare that it is to take effect immediately as an urgency statute.

Bill Sponsors (12)

Sam Blakeslee Ph.D.

  • Republican
Author

Anthony Adams

  • Republican
Coauthor

Gaines

Coauthor

Jean Fuller

  • Republican
Coauthor

Danny D Gilmore

  • Republican
Coauthor

Diane L Harkey

  • Republican
Coauthor

Steve Knight

  • Republican
Coauthor

Brian Nestande

  • Republican
Coauthor

Roger Niello

  • Republican
Author

Jim Silva

  • Republican
Coauthor

Cameron Smyth

  • Republican
Coauthor

Michael Villines

  • Republican
Coauthor

Votes


No votes to display

Actions


Nov 30, 2010

Assembly

Died at Desk.

Apr 13, 2010

Assembly

From printer.

Apr 12, 2010

Assembly

Read first time. To print.

Bill Text

Bill Text Versions Format
AB7 HTML
04/12/10 - Introduced PDF

Related Documents

Document Format
No related documents.

Sources

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