H.R. 1097

Complete and Permanent Property Tax Deduction Act of 2011

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I

112th CONGRESS

1st Session

H. R. 1097

IN THE HOUSE OF REPRESENTATIVES

March 15, 2011

Mr. Paul 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 expand and make permanent the standard deduction for real property taxes.

1.

Short title

This Act may be cited as the Complete and Permanent Property Tax Deduction Act of 2011.

2.

Standard deduction for real property taxes expanded and made permanent

(a)

Standard deduction for real property taxes made permanent

Subparagraph (C) of section 63(c)(1) of the Internal Revenue Code of 1986 is amended by striking in the case of any taxable year beginning in 2008 or 2009,.

(b)

Repeal of dollar limitation and exclusion of foreign taxes

Paragraph (7) of section 63(c) of such Code is amended to read as follows:

(7)

Real property tax deduction

For purposes of paragraph (1), the real property tax deduction is the amount allowable as a deduction under section 164(a)(1) (determined without regard to any taxes taken into account under section 62(a)).

.

(c)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2010.