109th CONGRESS
2d Session
H. R. 5860
To amend the Internal Revenue Code of 1986 to allow an above-the-line
deduction for State and local, and foreign, real property taxes.
IN THE HOUSE OF REPRESENTATIVES
July 20, 2006
Mr. PAUL 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 an above-the-line
deduction for State and local, and foreign, real property taxes.
Be it enacted by the Senate and House of Representatives of the United
States of America in Congress assembled,
SECTION 1. DEDUCTION FOR REAL PROPERTY TAXES ALLOWED WHETHER OR NOT TAXPAYER
ITEMIZES OTHER DEDUCTIONS.
(a) In General- Subsection (a) of section 62 of the Internal Revenue Code
of 1986 (defining adjusted gross income) is amended by inserting before
the last sentence the following new paragraph:
`(21) Real Property Taxes- The deduction allowed by section 164 for real
property taxes described in section 164(a)(1).'.
(b) Effective Date- The amendment made by this section shall apply to taxable
years beginning after December 31, 2006.
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