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

II

112th CONGRESS

2d Session

S. 3470

IN THE SENATE OF THE UNITED STATES

August 1, 2012

(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.

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.