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H.R. 622 (114th): State and Local Sales Tax Deduction Fairness Act of 2015

The text of the bill below is as of Apr 20, 2015 (Received by the Senate).


II

114th CONGRESS

1st Session

H. R. 622

IN THE SENATE OF THE UNITED STATES

April 20, 2015

Received

AN ACT

To amend the Internal Revenue Code of 1986 to make permanent the deduction of State and local general sales taxes.

1.

Short title

This Act may be cited as the State and Local Sales Tax Deduction Fairness Act of 2015.

2.

Permanent extension of deduction of State and local general sales taxes

(a)

In general

Section 164(b)(5) of the Internal Revenue Code of 1986 is amended by striking subparagraph (I).

(b)

Effective date

The amendment made by this section shall apply to taxable years beginning after December 31, 2014.

3.

Budgetary effects

The budgetary effects of this Act shall not be entered on either PAYGO scorecard maintained pursuant to section 4(d) of the Statutory Pay-As-You-Go Act of 2010.

Passed the House of Representatives April 16, 2015.

Karen L. Haas,

Clerk