2008 House Bill 6383

Authorize home foreclosure income tax exemption

Introduced in the House

Aug. 20, 2008

Introduced by Rep. Ken Horn (R-94)

To exempt from the state income tax “income” derived from the cancellation of debt related to the foreclosure of residential property. Note: Under federal tax law cancelled debt of this sort is considered taxable income.

Referred to the Committee on Tax Policy