[Congressional Record Volume 163, Number 195 (Thursday, November 30, 2017)]
[Senate]
[Page S7594]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1713. Mr. ISAKSON submitted an amendment intended to be proposed 
to amendment SA 1618 proposed by Mr. McConnell (for Mr. Hatch (for 
himself and Ms. Murkowski)) to the bill H.R. 1, to provide for 
reconciliation pursuant to titles II and V of the concurrent resolution 
on the budget for fiscal year 2018; which was ordered to lie on the 
table; as follows:

       On page 76, strike lines 4 through 12 and insert the 
     following:

     SEC. 11043. SUSPENSION OF DEDUCTION FOR CERTAIN RESIDENCE 
                   INTEREST.

       (a) Home Equity Interest.--Section 163(h)(3)(A)(ii) is 
     amended by inserting ``in the case of taxable years beginning 
     before January 1, 2018, or after December 31, 2025,'' before 
     ``home equity indebtedness''.
       (b) Certain Additional Indebtedness.--Section 163(h)(3)(B) 
     is amended by adding at the end the following new clause:
       ``(iii) Additional limitation.--Such term shall not include 
     any indebtedness incurred after December 31, 2017, and before 
     January 1, 2026, which does not have priority (within the 
     meaning of such term as used in section 6323) over all other 
     indebtedness secured by the qualified residence which is also 
     incurred in acquiring, constructing, or substantially 
     improving the residence.''.
       (c) Effective Date.--The amendments made by this section 
     shall apply to taxable years ending after December 31, 2017.
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