US Congress House Bill 1662 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 7-0)
Status: Introduced on March 26 2015 - 25% progression, died in committee
Action: 2015-03-26 - Referred to House Financial Services
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Common Sense Housing Investment Act of 2015 Amends the Internal Revenue Code, with respect to the tax deduction for mortgage interest, to: (1) allow, in lieu of such deduction, a tax credit for 15% of mortgage interest paid in a taxable year for the taxpayer's principal residence and one other residence; (2) provide for a phaseout of the tax deduction for mortgage interest between 2016 and 2020; (3) allow a deduction for interest and taxes relating to land for dwelling purposes owned or leased by cooperative housing corporations; and (4) increase the state housing credit ceiling for the low-income housing tax credit. Directs the Department of the Treasury to apply the savings from the enactment of this Act to the Housing Trust Fund, for assistance under the Section 8 low-income housing program, and for the Public Housing Capital Fund.

Common Sense Housing Investment Act of 2015

Rep. Keith Ellison [D-MN]	Rep. John Conyers [D-MI]	Rep. Donna Edwards [D-MD]	Rep. Barbara Lee [D-CA]
Rep. Bobby Rush [D-IL]	Rep. Robert Scott [D-VA]	Rep. Frederica Wilson [D-FL]

Date	Chamber	Action
2015-03-26	House	Referred to House Financial Services
2015-03-26	House	Referred to House Ways and Means
2015-03-26	House	Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2015-03-26	House	Introduced in House

HB2721 (Related) 2015-11-16 - Referred to the Subcommittee on Higher Education and Workforce Training.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/1662/all-info
Text	https://www.congress.gov/114/bills/hr1662/BILLS-114hr1662ih.pdf