[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 1938 Introduced in Senate (IS)]

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118th CONGRESS
  1st Session
                                S. 1938

 To 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.


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                   IN THE SENATE OF THE UNITED STATES

                             June 13, 2023

Ms. Hassan (for herself and Mr. Tillis) 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 increase the income cap 
 with respect to the mortgage insurance premium deduction, and to make 
                       such deduction permanent.

    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 ``Middle Class Mortgage Insurance 
Premium Act of 2023''.

SEC. 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.
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