Bill > HR3995

This bill, titled the Mortgage Tax Cut Extension Act, aims to extend a tax deduction for mortgage insurance premiums. Specifically, it amends the Internal Revenue Code of 1986 by changing the expiration date for this deduction from December 31, 2013, to December 31, 2015. Mortgage insurance is a type of insurance that protects lenders if a borrower defaults on their mortgage, and it is often required for borrowers with a low down payment. The bill clarifies that this extension applies to mortgage insurance premiums paid or incurred after December 31, 2013.