HR 1147

112th CONGRESS
1st Session

H. R. 1147

To amend the Internal Revenue Code of 1986 to allow a deduction for certain payments made to reduce debt on commercial real property.

IN THE HOUSE OF REPRESENTATIVES

March 17, 2011

Mr. NUNES (for himself and Ms. BERKLEY) 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 allow a deduction for certain payments made to reduce debt on commercial real property.

SECTION 1. SHORT TITLE.

SEC. 2. DEDUCTION FOR CERTAIN PAYMENTS MADE REDUCE DEBT ON COMMERCIAL REAL PROPERTY.

`SEC. 199A. DEDUCTION FOR PAYMENTS MADE TO REDUCE DEBT ON COMMERCIAL REAL PROPERTY.

`If, of the 3 years referred to in

The applicable

subparagraph (A), the additional

percentage is:

debt occurs during the:

1st such year

--100

2d such year

--66 2/3

3d such year

--33 1/3.

END