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United States · Bill · HR

H.R. 1010 (109th)

To amend the Internal Revenue Code of 1986 to allow certain modifications to be made to qualified mortgages held by a REMIC or a grantor trust.

referredUnited States· United States Congress· EN

Introduced

1 March 2005

Last action

1 March 2005 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Foley, Mark [R-FL-16], Rep. Pomeroy, Earl [D-ND-At Large], Rep. Shaw, E. Clay, Jr. [R-FL-22], Rep. Cantor, Eric [R-VA-7], Rep. Tanner, John S. [D-TN-8], Rep. English, Phil [R-PA-3], Rep. Harris, Katherine [R-FL-13], Rep. Holt, Rush [D-NJ-12], Rep. Terry, Lee [R-NE-2], Rep. Paul, Ron [R-TX-14], Rep. Fossella, Vito [R-NY-13], Rep. Rehberg, Denny [R-MT-At Large], Rep. Bishop, Sanford D. [D-GA-2], Rep. Clay, Wm. Lacy [D-MO-1], Rep. Emanuel, Rahm [D-IL-5], Rep. Ryan, Paul [R-WI-1], Rep. Blumenauer, Earl [D-OR-3], Rep. Ford, Harold E., Jr. [D-TN-9], Rep. Case, Ed [D-HI-1], Rep. Weller, Jerry [R-IL-11], Rep. Ramstad, Jim [R-MN-3], Rep. Bachus, Spencer [R-AL-6], Rep. Linder, John [R-GA-7], Rep. Jefferson, William J. [D-LA-2], Rep. Herger, Wally [R-CA-2], Rep. Souder, Mark E. [R-IN-3], Rep. Reynolds, Thomas M. [R-NY-26], Rep. Ney, Robert W. [R-OH-18], Rep. Neal, Richard E. [D-MA-1], Rep. Levin, Sander M. [D-MI-12]

Subjects

Taxation

Source updated

27 November 2025

Taxation

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Summary

Amends the Internal Revenue Code to permit certain amendments, waivers, or other modifications to mortgages held by a Real Estate Mortgage Investment Conduit (REMIC) or a Grantor Trust without disqualifying such mortgages as REMIC or Grantor Trust mortgages. Permits amendments, waivers, or modifications that do not: (1) extend the final maturity date of a mortgage; (2) increase the outstanding balance of the mortgage; (3) result in the release of an interest in real property securing the mortgage; or (4) result in an instrument or property right which is not debt for Federal income tax purposes. Exempts such amendments, waivers, or modifications from the penalty for prohibited transactions.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 1 March 2005

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 1 March 2005

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 1 March 2005

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 1 March 2005

    ViewDownloadOpen at official source

  • Introduced in House (PDF)

    Introduced in House · EN · 1 March 2005

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 1 March 2005

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Sponsors

Related records

Sources

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