I 111th CONGRESS 1st Session H. R. 1716 IN THE HOUSE OF REPRESENTATIVES March 25, 2009 Mr. Hill (for himself, Mr. Adler of New Jersey, Mr. Carson of Indiana, Mr. Burton of Indiana, Mr. Donnelly of Indiana, Mr. Visclosky, and Mr. Stupak) 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 real property taxes on the principal residences to all individuals whether or not they itemize other deductions.

1.

Short title

The Act may be cited as the Property Tax Relief Act of 2009.

2.

Deduction for real property taxes on principal residences allowed to all individuals whether or not they itemize 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 after paragraph (21) the following new paragraph: (22)

Principal residence real property taxes

The deduction allowed by section 164(a)(1) for State and local real property taxes on any residence allocable to the period during the taxable year that the residence is owned and used by the taxpayer as the taxpayer's principal residence (within the meaning of section 121). . (b)

No effect on computation of alternative minimum taxable income

The last sentence of subparagraph (A) of section 56(b)(1) of such Code is amended by inserting before the period (other than the amount allowable under section 62(a)(22)). (c)

Conforming amendments

Section 63(c) of such Code is amended— (1)in paragraph (1) by striking subparagraph (C) and redesignating subparagraphs (D) and (E) as subparagraphs (C) and (D), respectively, and (2)by striking paragraph (7) and redesignating paragraphs (8) and (9) as paragraphs (7) and (8), respectively. (d)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2009.