S. 3470 (112th): A bill to permanently extend the private mortgage insurance tax deduction.

112th Congress, 2011–2013. Text as of Aug 01, 2012 (Introduced).

Status & Summary | PDF | Source: GPO

S 3470 IS

112th CONGRESS

2d Session

S. 3470

To permanently extend the private mortgage insurance tax deduction.

IN THE SENATE OF THE UNITED STATES

August 1, 2012

Ms. STABENOW (for herself and Mr. CRAPO) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To permanently extend the private mortgage insurance tax deduction.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. PERMANENT EXTENSION OF DEDUCTION FOR MORTGAGE INSURANCE PREMIUMS.

    (a) In General- Subparagraph (E) of section 163(h)(3) of the Internal Revenue Code of 1986 is amended by striking clause (iv).

    (b) Effective Date- The amendment made by this section shall apply to amounts paid or accrued after December 31, 2011, and to amounts properly allocable to periods after such date.