Bill · H.R. 4115· House(119-HR-4115)
Saving Our MALLS Act
- Introduced
- 6/24/2025
- Last activity
- 6/24/2025 — Referred to the House Committee on Ways and Means.
- Sponsored by
- Claudia Tenney
- Cosponsors
- - 1 - 2
- Introduced
- In Committee
What this bill would do
This bill, known as the "Saving Our MALLS Act of 2025," proposes to amend the Internal Revenue Code of 1986. It seeks to exclude certain discharges of indebtedness secured by real property from being counted as income. Specifically, it targets "qualified commercial or retail indebtedness." This indebtedness must have been incurred or assumed before March 1, 2023, and discharged between December 31, 2023, and January 1, 2028. The debt must be secured by specified real property used in a trade or business.
Yes· 3 of 7
Does this cut taxes for small businesses?+5
The bill provides tax relief by excluding the discharge of certain commercial debt from taxable income.
Does this make it easier to run a small business?+5
The bill offers targeted relief for debt held by businesses using real property for trade or business.
Would business owners be better off under this?+5
It provides significant tax-free debt discharge benefits for qualifying commercial properties.
The opposite
Does this reduce what the federal government owes?-1
Tax exclusions can lead to a reduction in federal revenue.
Who it would affect, and how
Potential Positive Impacts for People
-
Exclusion of Indebtedness from Income: The bill allows the discharge of "qualified commercial or retail indebtedness" to be excluded from income, which could provide financial relief to taxpayers (Section 2(a)).
-
Targeted Relief for Business Real Property: The provision applies to debt secured by "specified real property" that is used in a taxpayer's trade or business (Section 2(b)(2)(A)).
Potential Negative Impacts for People
-
Strict Timing Constraints: The relief is only available for indebtedness incurred or assumed before March 1, 2023, and discharged within a specific window ending January 1, 2028 (Section 2(b)(1)).
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Property Limitations: The benefits are restricted to "specified real property" that does not fall under descriptions in section 168(b)(3)(B) or section 144(c)(6)(B) (Section 2(b)(2)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Economy And Finance
- Improves Small Business Support+5Reduces Small Business Taxes+5Improves Economic Growth+2Increases Job Creation+2Reduces National Debt-1
- Demographic And Interest Groups
- Good For Business Owners+5Good For High Income Households+3Good For High Net Worth Individuals+3
- 6/24/2025
- Referred to the House Committee on Ways and Means.
- 3 Cosponsors added.
- Introduced in House
Michael LawlerRepublican · New York
Patrick RyanDemocrat · New York
Paul TonkoDemocrat · New York