AB 7

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

Taxation: cancellation of indebtedness: mortgage debt forgiveness.


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)


No votes to display


Nov 30, 2010


Died at Desk.

Apr 13, 2010


From printer.

Apr 12, 2010


Read first time. To print.

Bill Text

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

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