MA S1645

Bill

MA S1645

Creating a private mortgage insurance tax deduction

Introduced
01/23/2017

In Committee
01/23/2017

Crossed Over

Passed

Dead
12/31/2018

Introduced Session

190th 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 mortgage insurance" for a primary residence. The deduction is reduced by 10% for every $1,000 a taxpayer's adjusted gross income exceeds $100,000. Qualified mortgage insurance refers to private mortgage insurance, as defined in federal law, which protects lenders if a homebuyer defaults on their loan. The deduction only applies to mortgage insurance contracts issued on or after January 1, 2007.

Committee Categories

Budget and Finance

Sponsors (4)

David DeCoste (R), Ryan Fattman (R), Richard Ross (R), Bruce Tarr (R),

Last Action

Accompanied a study order, see S2497 (on 04/30/2018)

Official Document

https://malegislature.gov/Bills/190/S1645

(4 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/190/S1645
Bill	https://malegislature.gov/Bills/190/S1645.pdf

Bill	Bill Name	Last Action	Type
H1470	Relative to the deduction of health insurance payments from gross income for self employed individuals	Accompanied a study order, see H4244	Similar To
S1558	To eliminate the tax deduction for direct-to-consumer pharmaceutical marketing	Accompanied a study order, see S2497	Similar To
S1577	Establishing a college tuition tax deduction	Accompanied a study order, see S2497	Similar To
S2497	Order relative to authorizing the joint committee on Revenue to make an investigation and study of certain current Senate documents relative to revenue matters	Reported (in part) by S1507	Replaced by

Bill > S1645

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (4)

Last Action

Official Document

bill text

bill summary

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