summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
For legislation to create a private mortgage insurance tax deduction. Revenue.
AI Summary
This bill creates a new tax deduction for premiums paid on qualified private mortgage insurance. The deduction is available for acquisition indebtedness on a primary residence, but is phased out for taxpayers with adjusted gross income over $100,000. The term "qualified mortgage insurance" is defined as private mortgage insurance that reimburses a lender if the borrower defaults and the foreclosure sale price is less than the amount owed. The deduction applies to mortgage insurance contracts issued on or after January 1, 2007.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Accompanied a study order, see H5080 (on 11/02/2020)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/S1788 |
| Bill | https://malegislature.gov/Bills/191/S1788.pdf |
Loading...