118th Congress · HOUSE BILLBILL

H.R. 5580 — Saving Our Mainstreet American Locations for Leisure and Shopping Act of 2023

“To amend the Internal Revenue Code of 1986 to exclude certain discharges of indebtedness secured by real property from income.”

Taxation

Introduced Sep 19, 2023

Last action Sep 19, 2023

Pipeline · Bill → Law

Step 1

Introduced

Sep 19, 2023

Step 2

Referred

Sep 19, 2023

Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill excludes from gross income, for income tax purposes, income attributable to certain discharges of commercial or retail indebtedness secured by real property.

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Sep 19, 2023

Introduced in House

Sep 19, 2023

Referred to the House Committee on Ways and Means.