Bills · HR 4115
IN COMMITTEE· 119TH CONGRESS
House BillHR 4115Taxation
Saving Our MALLS Act
INTRO JUN 24· LAST ACTION JUN 24
READING
2MIN
COSPONSORS
3BIPARTISAN
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because many commercial and retail properties, especially those in traditional shopping centers and Main Street locations, have faced economic challenges due to shifts in consumer behavior, the rise of e-commerce, and recent economic downturns. Property owners might struggle to make their loan payments, leading to restructurings or debt forgiveness.
If this bill becomes law, qualifying property owners who have debt forgiven would avoid a potentially large tax bill on that amount. This could provide a lifeline, helping businesses stay afloat, retain employees, or reinvest in their properties, rather than facing increased financial strain or even bankruptcy. Without this law, forgiven debt typically adds to taxable income, making financial recovery more difficult for these businesses.
KEY PROVISIONS
3AI-extractedPROVISION 01
Excludes 'qualified commercial or retail indebtedness' from a taxpayer's gross income.
This is the central change, preventing property owners from paying income tax on certain forgiven business loans.
PROVISION 02
Defines 'qualified commercial or retail indebtedness' as debt incurred before March 1, 2023, and discharged between December 31, 2023, and January 1, 2028.
These dates set clear boundaries for which loans and forgiveness events are eligible for the tax exclusion.
PROVISION 03
Requires the debt to be secured by 'specified real property' used in a trade or business.
This clarifies that the tax relief is specifically for business properties and not other types of real estate.
SPONSORSHIP
1 + 3
R· New York
YRS IN OFFICE
9
BILLS LED
80
COSPONSOR BREAKDOWNBIPARTISAN · 66%
DEM 2 REP 1 IND 0
ACTION TIMELINE
2 EVENTSJUN 24
Introduced in House
JUN 24
Referred to the House Committee on Ways and Means.
BILL INFO
TypeHouse Bill
NumberHR 4115
Congress119th
StatusIn Committee
IntroducedJun 24, 2025
Last actionJun 24, 2025
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IN COMMITTEE· 119TH CONGRESS · WAYS AND MEANS COMMITTEE · INTRODUCED JUN 24, 2025
House BillHR 4115Taxation
Saving Our MALLS Act
INTRODUCED JUN 24, 2025· LAST ACTION JUN 24, 2025
PASSAGE CHANCES
—%
READING
2 min
COSPONSORS
3
COMPLEXITY
Moderate
