[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 2068 Introduced in Senate (IS)]







110th CONGRESS
  1st Session
                                S. 2068

  To amend the Internal Revenue Code of 1986 to provide an additional 
      standard deduction for real property taxes for nonitemizers.


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                   IN THE SENATE OF THE UNITED STATES

                           September 19, 2007

   Mr. Bayh 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 provide an 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 
2007''.

SEC. 2. ADDITIONAL STANDARD DEDUCTION FOR REAL PROPERTY TAXES FOR 
              NONITEMIZERS.

    (a) In General.--Section 63(c)(1) (defining standard deduction) is 
amended by striking ``and'' at the end of subparagraph (A), by striking 
the period at the end of subparagraph (B) and inserting ``, and'', and 
by adding at the end the following new subparagraph:
                    ``(C) the real property tax deduction.''.
    (b) Definition.--Section 63(c) is amended by adding at the end the 
following new paragraph:
            ``(8) Real property tax deduction.--For purposes of 
        paragraph (1), the real property tax deduction is equal to the 
        amount of State and local real property taxes (within the 
        meaning of section 164) paid or accrued by the taxpayer during 
        the taxable year.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2006.
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