US Congress House Bill 1213 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 17-0)
Status: Introduced on March 15 2013 - 25% progression, died in committee
Action: 2013-03-15 - Referred to House Financial Services
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Common Sense Housing Investment Act of 2013 - Amends the Internal Revenue Code, with respect to the tax deduction for mortgage interest, to: (1) allow, in lieu of such deduction, a tax credit for 15% of mortgage interest paid in a taxable year for the taxpayer's principal residence and one other residence; (2) provide for a phaseout of the tax deduction for mortgage interest between 2014 and 2018; (3) allow a deduction for interest and taxes relating to land for dwelling purposes owned or leased by cooperative housing corporations; and (4) increase the state housing credit ceiling for the low-income housing tax credit. Directs the Secretary of the Treasury to apply the savings from the enactment of this Act to the Housing Trust Fund, for assistance under the Section 8 low-income housing program, and for the Public Housing Capital Fund.

Common Sense Housing Investment Act of 2013

Rep. Keith Ellison [D-MN]	Rep. G. Butterfield [D-NC]	Rep. Yvette Clarke [D-NY]	Rep. John Conyers [D-MI]
Rep. Donna Edwards [D-MD]	Rep. Raul Grijalva [D-AZ]	Rep. Alcee Hastings [D-FL]	Rep. Michael Honda [D-CA]
Rep. Hakeem Jeffries [D-NY]	Rep. Barbara Lee [D-CA]	Rep. Alan Lowenthal [D-CA]	Rep. Jim McDermott [D-WA]
Rep. Bobby Rush [D-IL]	Rep. Robert Scott [D-VA]	Rep. Louise Slaughter [D-NY]	Rep. Paul Tonko [D-NY]
Rep. Frederica Wilson [D-FL]

Date	Chamber	Action
2013-03-15	House	Referred to House Financial Services
2013-03-15	House	Referred to House Ways and Means
2013-03-15	House	Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/1213/all-info
Text	https://www.congress.gov/113/bills/hr1213/BILLS-113hr1213ih.pdf