H.R. 6677 (112th): Common Sense Housing Investment Act of 2012

Dec 18, 2012 (112th Congress, 2011–2013)
Died (Referred to Committee)
Keith Ellison
Representative for Minnesota's 5th congressional district
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Last Updated
Dec 18, 2012
15 pages
Related Bills
H.R. 1213 (113th) was a re-introduction of this bill in a later Congress.

Referred to Committee
Last Action: Mar 15, 2013


This bill was introduced on December 18, 2012, in a previous session of Congress, but was not enacted.

Introduced Dec 18, 2012
Referred to Committee Dec 18, 2012
Full Title

To amend the Internal Revenue Code of 1986 to replace the mortgage interest deduction with a nonrefundable credit for indebtedness secured by a residence, to provide affordable housing to extremely low-income families, and for other purposes.


No summaries available.

1 cosponsors (1D) (show)

House Financial Services

House Ways and Means

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Primary Source

THOMAS.gov (The Library of Congress)

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H.R. stands for House of Representatives bill.

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

Common Sense Housing Investment Act of 2012 - Amends the Internal Revenue Code, with respect to the tax deduction for mortgage interest, to:
(1) allow, in lieu of such deduction, a tax credit for 20% of mortgage interest paid in a taxable year for the taxpayer's principal residence and one other residence;
(2) provide for a phaseout of the tax deduction for mortgage interest between 2013 and 2017;
(3) allow a deduction for interest and taxes relating to land for dwelling purposes owned or leased by cooperative housing corporations; and
(4) increase the state housing credit ceiling for the low-income housing tax credit.
Directs the Secretary of the Treasury to apply the savings from the enactment of this Act to the Housing Trust Fund, for assistance under the Section 8 low-income housing program, and for the Public Housing Capital Fund.

House Republican Conference Summary

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House Democratic Caucus Summary

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