,i  #aaith ,,congress  #ast ,session    
,h4 ,r4 #daae  ,,in ,,the ,,house ,,of  
,,representatives  ,june #bd1 #bjbe,ms4 
,tenney 7for herself1 ,mr4 ,tonko1 ,mr4 
,lawler1 and ,mr4 ,ryan7 introduced the 
following bill2 which was referred to   
the ,committee on ,ways and ,means  ,a  
,,bill  ,to amend the ,internal ,revenue
 ,code of #aihf to exclude certain      
discharges of indebtedness secured by   
real property from income4  #a4 ,short  
title ,this ,act may be cited as the    
,saving ,our ,mainstreet ,american      
,locations for ,leisure and ,shopping   
,act of #bjbe1 or the ,saving ,our      
,,malls ,act4  #b4 ,excluding discharge 
of commercial or retail indebtedness    
from income  7a7 ,in general ,section   
#ajh7;a77#a7 of the ,internal ,revenue  
,code of #aihf is amended by striking or
 at the end of subparagraph 7,d71 by    
striking the period at the end of       
subparagraph 7,e77ii7 and inserting 1   
or1 and by adding at the end the        
following new subparagraph3  7,f7 the   

indebtedness discharged is qualified    
commercial or retail indebtedness4  4   
7b7 ,commercial or retail indebtedness  
defined ,section #ajh of such code is   
amended by adding at the end the        
following new subsection3  7j7          
,commercial or retail indebtedness      
defined ,for purposes of this section3  
7#a7 ,in general ,the term qualified    
commercial or retail indebtedness means 
indebtedness which is-- 7,a7 incurred or
 assumed by the taxpayer before ,march  
#a1 #bjbc1  7,b7 discharged during the  
period beginning on ,december #ca1      
#bjbc1 and ending on ,january #a1 #bjbh1
 and  7,c7 secured directly or          
indirectly by specified real property of
 the taxpayer at all times after such   
indebtedness was so incurred or assumed 
and before such discharge4  7#b7        
,specified real property ,the term      
specified real property means real      
property which is-- 7,a7 used in a trade
 or business of the taxpayer1  7,b7 not 
described in section #afh7;b77#c77;,b71 

and  7,c7 not described in section      
#add7;c77#f77;,b74  4  7c7 ,coordination
 of exclusions  7#a7 ,section           
#ajh7;a77#b77;,a7 of such ,code is      
amended by striking and 7,e7 and        
inserting 7,e71 and 7,f74  7#b7 ,section
 #ajh7;a77#b77;,b7 is amended-- 7,a7 in 
the header1 by striking and qualified   
real property business exclusion and    
inserting 1 qualified real property     
business exclusion1 and qualified       
commercial or retail indebtedness1 and  
7,b7 by striking and 7,d7 and inserting 
7,d71 and 7,f74  7d7 ,reduction of tax  
attributes ,section #ajh7;b77#a7 is     
amended by striking or 7,c7 and         
inserting 7,c71 or 7,f74  7e7 ,effective
 date ,the amendments made by this      
section apply to discharges of          
indebtedness occurring on or after      
,december #ca1 #bjbc4