,i  #aac? ,,congress  #b;d ,session  ,h4
 ,r4 #efcg  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,septemb] #ah1 #bjad  
,mr4 ,pet]s ( ,cali=nia 7= himself &    
,mr4 ,v>gas7 introduc$ ! foll[+ bill2   
:i* 0 ref]r$ to ! ,committee on ,ways & 
,means  ,a ,,bill  ,to am5d ! ,int]nal  
,rev5ue ,code ( #aihf to provide an     
exclusion f gross income = dis*>ge (    
consum] indebt$ness4  #a4 ,%ort title   
,?is ,act may be cit$ z ! ,consum] ,debt
 ,=giv5ess ,tax ,relief ,act ( #bjad4   
#b4 ,exclusion f gross income = dis*>ge 
( consum] indebt$ness  7a7 ,9 g5]al     
,p>agraph 7#a7 ( section #ajh7;a7 ( !   
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by /rik+ or at ! end ( subp>agraph 7,d71
 by /rik+ ! p]iod at ! end ( subp>agraph
 7,e7 & ins]t+ 1 or1 & by add+ at ! end 
! foll[+3  7,f7 ! indebt$ness dis*>g$ is
 qualifi$ consum] indebt$ness4  4  7b7  
,special rules relat+ to qualifi$       
consum] indebt$ness ,section #ajh ( !   
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by add+ at ! end ! foll[+3  7j7 ,special

 rules relat+ to qualifi$ consum]       
indebt$ness  7#a7 ,qualifi$ consum]     
indebt$ness def9$ ,= purposes ( ?is     
section1 ! t]m qualifi$ consum]         
indebt$ness means any indebt$ness ( a   
natural p]son aris+ out ( a transaction 
9 :i* ! money1 prop]ty1 or s]vices :i*  
are ! subject ( ! transaction are       
prim>ily = p]sonal1 family1 or h\sehold 
purposes4  7#b7 ,ov]all limitation ,!   
aggregate am\nt ( dis*>g$ indebt$ness   
treat$ z qualifi$ consum] indebt$ness = 
! taxable ye> %all n exce$ ! excess 7if 
any7 (--  7,a7 #b1ejj1 ov]  7,b7 !      
aggregate am\nts treat$ z qualifi$      
consum] indebt$ness ) respect to su*    
taxpay] = all prior taxable ye>s4  4    
7c7 ,effective date ,! am5dm5ts made by 
?is section %all apply to indebt$ness   
dis*>g$ aft] ! date ( ! enactm5t ( ?is  
,act4