S 22

112th CONGRESS
1st Session

S. 22

To amend the Internal Revenue Code of 1986 to permanently extend and expand the additional standard deduction for real property taxes for nonitemizers.

IN THE SENATE OF THE UNITED STATES

January 25 (legislative day, January 5), 2011

Mrs. GILLIBRAND introduced the following bill; which was read twice and referred to the Committee on Finance


A BILL

To amend the Internal Revenue Code of 1986 to permanently extend and expand the additional standard deduction for real property taxes for nonitemizers.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the `Homeowner Tax Fairness Act of 2011'.

SEC. 2. PERMANENT EXTENSION AND EXPANSION OF ADDITIONAL STANDARD DEDUCTION FOR REAL PROPERTY TAXES FOR NONITEMIZERS.

    (a) Permanent Extension- Subparagraph (C) of section 63(c)(1) of the Internal Revenue Code of 1986 is amended by striking `in the case of any taxable year beginning in 2008 or 2009,'.

    (b) Removal of Dollar Limitation- Paragraph (7) of section 63(c) of the Internal Revenue Code of 1986 is amended to read as follows:

      `(7) REAL PROPERTY TAX DEDUCTION- For purposes of paragraph (1), the real property tax deduction is equal to the amount allowable as a deduction under this chapter for State and local taxes described in section 164(a)(1). Any taxes taken into account under section 62(a) shall not be taken into account under this paragraph.'.

    (c) Effective Date- The amendments made by this section shall apply to taxable years beginning after December 31, 2009.

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