3.0.0 948 2023-01-11T13:34:56Z 2023-01-11T13:34:56Z House HR 2017-02-07 115 [Congressional Record Volume 163, Number 21 (Tuesday, February 7, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. ELLISON:H.R. 948.Congress has the power to enact this legislation pursuantto the following:Article I, Section 7, Clause 1 and Section 8, Clause 1.[Page H1085]]]> hsba00 Financial Services Committee House Standing Referred to 2017-02-07T15:12:45Z hswm00 Ways and Means Committee House Standing Referred to 2017-02-07T15:12:40Z Fair Tax Treatment for Manufactured Housing Community Cooperatives Act 115 3399 HR 2017-07-26 Referred to the House Committee on Ways and Means. Related bill CRS Pathways Out of Poverty Act of 2017 115 4074 HR 2017-10-26 Referred to the Subcommittee on Nutrition. Related bill CRS 2017-02-07 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. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2017-02-07 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. IntroReferral H11100-A 9 Library of Congress 2017-02-07 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. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2017-02-07 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-02-07 Introduced in House IntroReferral 1000 9 Library of Congress E000288 Rep. Ellison, Keith [D-MN-5] Keith Ellison D MN 5 N B001251 Rep. Butterfield, G. K. [D-NC-1] G. K. Butterfield D NC 1 2017-03-01 False L000551 Rep. Lee, Barbara [D-CA-13] BARBARA LEE D CA 13 2017-04-04 False E000296 Rep. Evans, Dwight [D-PA-2] Dwight Evans D PA 2 2017-04-06 False S000185 Rep. Scott, Robert C. "Bobby" [D-VA-3] Robert Scott D VA C. "Bobby" 3 2017-04-25 False C000714 Rep. Conyers, John, Jr. [D-MI-13] JOHN CONYERS D MI 13 2017-04-28 False D000623 Rep. DeSaulnier, Mark [D-CA-11] Mark DeSaulnier D CA 11 2017-05-16 False C001067 Rep. Clarke, Yvette D. [D-NY-9] Yvette Clarke D NY D. 9 2017-05-16 False S001200 Rep. Soto, Darren [D-FL-9] Darren Soto D FL 9 2017-06-21 False B001300 Rep. Barragan, Nanette Diaz [D-CA-44] Nanette Barragan D CA Diaz 44 2017-08-29 False Taxation Cooperative and condominium housing Government trust funds Housing finance and home ownership Housing supply and affordability Income tax credits Income tax deductions Inflation and prices Interest, dividends, interest rates Low- and moderate-income housing Public housing State and local taxation Taxation 00 2017-02-07 Introduced in House 2017-02-17T13:59:04Z Common Sense Housing Investment Act of 2017

This bill 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 2017 and 2021; (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.

The bill directs the Department of the Treasury to apply the savings from the enactment of this bill to the Housing Trust Fund, rental assistance programs, and the Public Housing Capital Fund.

The Department of Housing and Urban Development must revise regulations for the Housing Trust Fund to: (1) increase the limitation on funds that are available for operating assistance for housing, (2) allow public housing agencies and tribally designated housing entities to be the recipients of grants that are allocated to a state or a state designated entity, and (3) eliminate the applicability of rules for the fund that are based on the HOME Investment Partnerships Act.

]]> Common Sense Housing Investment Act of 2017 Display Title Common Sense Housing Investment Act of 2017 Official Title as Introduced To amend the Internal Revenue Code of 1986 to replace the mortgage interest deduction with a nonrefundable credit for indebtedness secured by a residence, to provide affordable housing to extremely low-income families, and for other purposes. Introduced in House IH Short Titles as Introduced Common Sense Housing Investment Act of 2017 Introduced in House 2017-02-07T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr948ih/xml/BILLS-115hr948ih.xml 2017-02-07 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. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.