110 HR 3953 IH: Homeowners Property Tax Relief Act of U.S. House of Representatives 2007-10-24 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.

I 110th CONGRESS 1st Session H. R. 3953 IN THE HOUSE OF REPRESENTATIVES October 24, 2007 Mr. Mahoney of Florida (for himself, Ms. Giffords, Mr. Higgins, Mrs. Boyda of Kansas, Mr. Kagen, Mr. Bishop of New York, Mr. Israel, Mr. Gordon of Tennessee, Mr. Patrick J. Murphy of Pennsylvania, Ms. Castor, Mr. Boyd of Florida, Mr. Hill, Mr. Walz of Minnesota, Mr. Costa, Mr. Cardoza, Mr. Wexler, Ms. Hirono, Mr. Peterson of Minnesota, Mr. Roskam, and Mr. Walberg) 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 the deduction for property taxes in determining the amount of the alternative minimum taxable income of any taxpayer (other than a corporation).

1.

Short title

This Act may be cited as the Homeowners Property Tax Relief Act of 2007.

2.

Deduction for property taxes allowed in determining individual alternative minimum taxable income

(a)

In general

Clause (ii) of section 56(b)(1)(A) of the Internal Revenue Code of 1986 (relating to general limitation on deductions applicable to individuals) is amended by striking (1), (2), or. (b)

Effective date

The amendment made by subsection (a) shall apply to taxable years beginning after December 31, 2006.