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United States · Law · HR

H.R. 3648 (110th)

Mortgage Forgiveness Debt Relief Act of 2007

enactedUnited States· United States Congress· EN

Introduced

25 September 2007

Last action

20 December 2007 · President

Status

Became Public Law No: 110-142.

Sponsors

Rep. Rangel, Charles B. [D-NY-15], Rep. Stark, Fortney Pete [D-CA-13], Rep. Levin, Sander M. [D-MI-12], Rep. McDermott, Jim [D-WA-7], Rep. Pomeroy, Earl [D-ND-At Large], Rep. Larson, John B. [D-CT-1], Rep. Emanuel, Rahm [D-IL-5], Rep. Blumenauer, Earl [D-OR-3], Rep. Pascrell, Bill, Jr. [D-NJ-9], Rep. Berkley, Shelley [D-NV-1], Rep. Crowley, Joseph [D-NY-14], Sen. Van Hollen, Chris [D-MD], Rep. Meek, Kendrick B. [D-FL-17], Rep. Schwartz, Allyson Y. [D-PA-13], Rep. Ramstad, Jim [R-MN-3], Rep. English, Phil [R-PA-3], Rep. Andrews, Robert E. [D-NJ-1], Rep. Nadler, Jerrold [D-NY-12], Rep. Maloney, Carolyn B. [D-NY-12], Rep. Space, Zachary T. [D-OH-18], Rep. Neal, Richard E. [D-MA-1], Rep. Gordon, Bart [D-TN-6], Rep. Brown-Waite, Ginny [R-FL-5], Rep. Fattah, Chaka [D-PA-2], Rep. Holt, Rush [D-NJ-12], Rep. Giffords, Gabrielle [D-AZ-8]

Subjects

Housing, Taxation

Source updated

7 April 2025

Housing · Taxation

Official sourceDownload fileView documentsShare

Summary

Amends the Internal Revenue Code to: (1) exclude from gross income amounts attributable to a discharge of mortgage indebtedness on a principal residence; (2) extend through 2014 the tax deduction for mortgage insurance premiums; (3) expand the definition of cooperative housing corporation for purposes of the tax deduction for payments to such corporations; and (4) limit the exclusion from gross income of gain from the sale of a principal residence by denying an exclusion of the gain allocated to a nonqualified use of such residence. Amends the Tax Increase Prevention and Reconciliation Act of 2005 to increase (from 114.75% to 116.50%) in the third quarter of 2012 the estimated tax rate for corporations with assets of not less than $1 billion.

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

Timeline

  1. 25 September 2007

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 25 September 2007

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 25 September 2007

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 26 September 2007

    Reported

    Ordered to be Reported (Amended) by Voice Vote.

    Source: Committee

  5. 26 September 2007

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

  6. 1 October 2007

    Calendars

    Placed on the Union Calendar, Calendar No. 220.

    Source: Calendars

  7. 1 October 2007

    Reported

    Reported (Amended) by the Committee on Ways and Means. H. Rept. 110-356.

    Source: Committee

  8. 1 October 2007

    Reported

    Reported (Amended) by the Committee on Ways and Means. H. Rept. 110-356.

    Source: Committee

  9. 2 October 2007

    Reported

    Rules Committee Resolution H. Res. 703 Reported to House. Rule provides for consideration of H.R. 3648 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments. The amendment in the nature of a substitute recommended by the Committee on Ways and Means now printed in the bill, modified by the amendment printed in the report of the Committee on Rules accompanying this resolution, shall be considered as adopted.

    Source: Floor

  10. 4 October 2007

    Introduced

    Received in the Senate and Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  11. 4 October 2007

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

  12. 4 October 2007

    Vote

    On passage Passed by recorded vote: 386 - 27 (Roll No. 948). (text: CR H11288-11289)

    Source: Floor

  13. 4 October 2007

    Vote

    Passed/agreed to in House: On passage Passed by recorded vote: 386 - 27 (Roll No. 948).(text: CR H11288-11289)

    Source: Floor

  14. 4 October 2007

    Vote

    On motion to recommit with instructions Failed by the Yeas and Nays: 201 - 212, 1 Present (Roll no. 947). (consideration: CR H11297)

    Source: Floor

  15. 4 October 2007

    Floor

    The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H11296)

    Source: Floor

  16. 4 October 2007

    Floor

    Rule provides for consideration of H.R. 3648 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments. The amendment in the nature of a substitute recommended by the Committee on Ways and Means now printed in the bill, modified by the amendment printed in the report of the Committee on Rules accompanying this resolution, shall be considered as adopted.

    Source: Floor

  17. 4 October 2007

    Floor

    Mr. Cantor moved to recommit with instructions to Ways and Means. (consideration: CR H11296-11297; text: CR H11296)

    Source: Floor

  18. 4 October 2007

    Floor

    The previous question was ordered pursuant to the rule. (consideration: CR H11296)

    Source: Floor

  19. 4 October 2007

    Floor

    Considered under the provisions of rule H. Res. 703. (consideration: CR H11287-11298; text of measure as introduced: CR H11287-11288)

    Source: Floor

  20. 4 October 2007

    Passed

    Rule H. Res. 703 passed House.

    Source: Floor

  21. 14 December 2007

    Floor

    Measure laid before Senate by unanimous consent. (consideration: CR S15642-15643)

    Source: Floor

  22. 14 December 2007

    Passed

    Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.

    Source: Floor

  23. 14 December 2007

    Discharge

    Senate Committee on Finance discharged by Unanimous Consent.

    Source: Discharge

  24. 14 December 2007

    Committee

    Senate Committee on Finance discharged by Unanimous Consent.

    Source: Committee

  25. 18 December 2007

    Action

    Cleared for White House.

  26. 18 December 2007

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: ResolvingDifferences

  27. 18 December 2007

    Passed

    On motion that the House suspend the rules and agree to the Senate amendment Agreed to by voice vote. (text as House agreed to Senate amendment: CR H16768-16770)

    Source: ResolvingDifferences

  28. 18 December 2007

    Passed

    Resolving differences -- House actions: On motion that the House suspend the rules and agree to the Senate amendment Agreed to by voice vote.(text as House agreed to Senate amendment: CR H16768-16770)

    Source: NotUsed

  29. 18 December 2007

    Floor

    DEBATE - The House proceeded with forty minutes of debate on the motion to suspend the rules and agree to the Senate amendment to H.R.3648.

    Source: Floor

  30. 18 December 2007

    ResolvingDifferences

    Mrs. Jones (OH) moved that the House suspend the rules and agree to the Senate amendment. (consideration: CR H16768-16772)

    Source: ResolvingDifferences

  31. 19 December 2007

    Floor

    Presented to President.

    Source: Floor

  32. 19 December 2007

    President

    Presented to President.

    Source: President

  33. 20 December 2007

    Became law

    Became Public Law No: 110-142.

    Source: President

  34. 20 December 2007

    Became law

    Signed by President.

    Source: BecameLaw

  35. 20 December 2007

    President

    Signed by President.

    Source: President

Votes

No vote records are attached yet.

Versions

Documents

19 official files

Enrolled Bill (text)

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  • Enrolled Bill (text)

    Enrolled Bill · EN

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  • Enrolled Bill (PDF)

    Enrolled Bill · EN

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  • Public Law (text)

    Public Law · EN · 20 December 2007

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  • Public Law (PDF)

    Public Law · EN · 20 December 2007

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  • Public Law

    summary · EN · 20 December 2007

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  • Engrossed Amendment Senate (text)

    Engrossed Amendment Senate · EN · 15 December 2007

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  • Engrossed Amendment Senate (PDF)

    Engrossed Amendment Senate · EN · 15 December 2007

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  • Passed Senate amended

    summary · EN · 14 December 2007

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  • Engrossed in House (text)

    Engrossed in House · EN · 4 October 2007

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  • Engrossed in House (PDF)

    Engrossed in House · EN · 4 October 2007

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  • Referred in Senate (text)

    Referred in Senate · EN · 4 October 2007

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  • Referred in Senate (PDF)

    Referred in Senate · EN · 4 October 2007

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  • Passed House amended

    summary · EN · 4 October 2007

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  • Reported in House (text)

    Reported in House · EN · 1 October 2007

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  • Reported in House (PDF)

    Reported in House · EN · 1 October 2007

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  • Reported to House with amendment(s)

    summary · EN · 1 October 2007

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  • Introduced in House (text)

    Introduced in House · EN · 25 September 2007

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  • Introduced in House (PDF)

    Introduced in House · EN · 25 September 2007

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  • Introduced in House

    summary · EN · 25 September 2007

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