Taxation: cancellation of indebtedness: mortgage debt forgiveness.
Summary
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 federal 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 take effect immediately as a tax levy.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2011
Committee Review
Floor Vote
Governor
Introduced Feb 17, 2011
Last action Feb 1, 2012
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
8
Key actions
3
Committee
5
May 16, 2011
Lower · Passed
In committee: Set, first hearing. Held under submission.
lower
May 16, 2011
Committee
In committee: Set, first hearing. Referred to REV. & TAX. suspense file.
lower
Apr 11, 2011
Lower · Passed
In committee: Hearing postponed by committee.
lower
Mar 10, 2011
Committee
Referred to Com. on REV. & TAX.
lower
Feb 18, 2011
Lower · Passed
From printer. May be heard in committee March 20.
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
KD
Kevin D Jeffries
RRepublican
Ask Maddy
·
AI policy assistant
Ask Maddy about AB 856
Scope: CA
Hi! I can help you understand AB 856. What would you like to know?
Try one of these
i
Maddy answers using official bill text and legislative records. Always verify before sharing.
Sources cited inline