118 S1938 IS: Middle Class Mortgage Insurance Premium Act of 2023 U.S. Senate 2023-06-13 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.

II118th CONGRESS1st SessionS. 1938IN THE SENATE OF THE UNITED STATESJune 13, 2023Ms. Hassan (for herself and Mr. Tillis) introduced the following bill; which was read twice and referred to the Committee on FinanceA BILLTo amend the Internal Revenue Code of 1986 to increase the income cap with respect to the mortgage insurance premium deduction, and to make such deduction permanent.

1.

Short title

This Act may be cited as the Middle Class Mortgage Insurance Premium Act of 2023.

2.

Increasing the income cap for and making permanent the mortgage insurance premium deduction

(a)

In general

(1) Section 163(h)(3)(E) of the Internal Revenue Code of 1986 is amended—(1)in clause (ii), by striking $100,000 ($50,000 and inserting $200,000 ($100,000, and(2)by striking clause (iv). (b)

Effective date

The amendments made by this Act shall apply to taxable years beginning after December 31, 2021.