H.R. 516 · 115th Congress
Tax Benefit for Homeownership Clarification Act
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
EllisonSponsorNo cosponsors.
This bill amends the Internal Revenue Code to reduce the limitation on the mortgage interest deduction for the acquisition indebtedness of certain taxpayers. (Acquisition indebtedness is indebtedness that: (1) is incurred in acquiring, constructing, or substantially improving any qualified residence of the taxpayer; and (2) is secured by such residence.
What it does: CRS summary · Introduced in House · Jan 13, 2017
Tax Benefit for Homeownership Clarification Act
This bill amends the Internal Revenue Code to reduce the limitation on the mortgage interest deduction for the acquisition indebtedness of certain taxpayers. (Acquisition indebtedness is indebtedness that: (1) is incurred in acquiring, constructing, or substantially improving any qualified residence of the taxpayer; and (2) is secured by such residence. It also includes refinancing of the debt in certain situations.)
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Tax Benefit for Homeownership Clarification Act
Latest action (Jan 13, 2017): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jan 13, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.