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S 338 100th Congress Senate Taxation Finance and Financial Sector Housing and Housing Finance Housing finance Income tax Interest Mortgage loans Tax deductions

A bill to allow homeowners to deduct the full amount of prepaid interest paid in connection with the refinancing of their principal residence for the taxable year in which paid.

Introduced: January 20, 1987 See on congress.gov
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This bill died when the 100th Congress ended
It never became law before the 100th Congress (1987–1988) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 20, 1987
Read twice and referred to the Committee on Finance.
Jan 20, 1987
Introduced in Senate
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to allow homeowners to deduct the full amount of prepaid interest in connection with the refinancing of their principal residences for the taxable year in which paid.

What's happening now January 20, 1987

Read twice and referred to the Committee on Finance.

 Related & companion bills 2
  • HR 544 Identical bill A bill to allow homeowners to deduct the full amount of prepaid interest paid in connection with the refinancing of the…
  • HR 1374 Identical bill A bill to allow homeowners to deduct the full amount of prepaid interest paid in connection with the refinancing of the…
 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Grassley, Chuck
Iowa · Jan 21, 1987
Cite this page click to expand
APA
U.S. Congress. (2026). S. 338: A bill to allow homeowners to deduct the full amount of prepaid interest paid in connection with the refinancing of their principal residence for the taxable year in which paid.. 100th Congress. Open America. https://openamerica.io/bill/100-S-338/
MLA
"S. 338: A bill to allow homeowners to deduct the full amount of prepaid interest paid in connection with the refinancing of their principal residence for the taxable year in which paid.." 100th Congress, 2026, Open America, https://openamerica.io/bill/100-S-338/.
Bluebook (legal)
S. 338, 100th Cong. (2026), https://openamerica.io/bill/100-S-338/.
Markdown link
[S. 338: A bill to allow homeowners to deduct the full amount of prepaid interest paid in connection with the refinancing of their principal residence for the taxable year in which paid.](https://openamerica.io/bill/100-S-338/)
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