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H.R. 5872 (115th): To amend the Internal Revenue Code of 1986 to increase the limitation on the deduction for State and local taxes.

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The text of the bill below is as of May 17, 2018 (Introduced). The bill was not enacted into law.

I

115th CONGRESS

2d Session

H. R. 5872

IN THE HOUSE OF REPRESENTATIVES

May 17, 2018

introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to increase the limitation on the deduction for State and local taxes.

1.

Increase in limitation on deduction for State and local taxes

(a)

In general

Section 164(b)(6)(B) of the Internal Revenue Code of 1986 is amended by striking $10,000 ($5,000 and inserting $20,000 ($10,000.

(b)

Effective date

The amendment made by this section shall take effect as if included in the amendments made by section 11042 of Public Law 115–97.