Personal income taxes: income exclusion: mortgage debt forgiveness.
It was vetoed on Jan 15, 2016.
- Stage
- Vetoed
- Started in
- Assembly
- Sponsors
- 2
- Latest action
- Jan 15, 2016
What it does
The Personal Income Tax Law provides for modified conformity to specified provisions of federal income tax law relating to the exclusion of the discharge of qualified principal residence indebtedness, as defined, from an individual's income if that debt is discharged after January 1, 2007, and before January 1, 2014, as provided. The federal Tax Increase Prevention Act of 2014 extended the operation of those provisions to debt that is discharged before January 1, 2015.
Where it stands
This bill failed and is no longer moving.
Introduced (Done)
Committee (Done)
Floor (Done)
Law (Needs attention)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
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Where it goes next
Once a bill is decided, the questions are about what is done with it in California.