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HR 948 115th Congress House Taxation Cooperative and condominium housing Government trust funds Housing finance and home ownership Housing supply and affordability Income tax credits Income tax deductions Inflation and prices Interest, dividends, interest rates Low- and moderate-income housing Public housing State and local taxation

Common Sense Housing Investment Act of 2017

Introduced: February 7, 2017 See on congress.gov
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This bill died when the 115th Congress ended
It never became law before the 115th Congress (2017–2018) 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
Feb 7, 2017
Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Feb 7, 2017
Introduced in House
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 Plain-English summary Congressional Research Service

Common Sense Housing Investment Act of 2017

This bill amends the Internal Revenue Code, with respect to the tax deduction for mortgage interest, to: (1) allow, in lieu of such deduction, a tax credit for 15% of mortgage interest paid in a taxable year for the taxpayer's principal residence and one other residence; (2) provide for a phaseout of the tax deduction for mortgage interest between 2017 and 2021; (3) allow a deduction for interest and taxes relating to land for dwelling purposes owned or leased by cooperative housing corporations; and (4) increase the state housing credit ceiling for the low-income housing tax credit.

The bill directs the Department of the Treasury to apply the savings from the enactment of this bill to the Housing Trust Fund, rental assistance programs, and the Public Housing Capital Fund.

The Department of Housing and Urban Development must revise regulations for the Housing Trust Fund to: (1) increase the limitation on funds that are available for operating assistance for housing, (2) allow public housing agencies and tribally designated housing entities to be the recipients of grants that are allocated to a state or a state designated entity, and (3) eliminate the applicability of rules for the fund that are based on the HOME Investment Partnerships Act.

What's happening now February 7, 2017

Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

 Related & companion bills 2
  • HR 3399 Related bill Fair Tax Treatment for Manufactured Housing Community Cooperatives Act
  • HR 4074 Related bill Pathways Out of Poverty Act of 2017
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 6
All 6 Democratic 6
D
Barragán, Nanette Diaz
California · Aug 29, 2017
 D
Soto, Darren
Florida · Jun 21, 2017
 D
Clarke, Yvette D.
New York · May 16, 2017
 D
DeSaulnier, Mark
California · May 16, 2017
 D
Scott, Robert C. "Bobby"
Virginia · Apr 25, 2017
 D
Evans, Dwight
Pennsylvania · Apr 6, 2017
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 948: Common Sense Housing Investment Act of 2017. 115th Congress. Open America. https://openamerica.io/bill/115-HR-948/
MLA
"H.R. 948: Common Sense Housing Investment Act of 2017." 115th Congress, 2026, Open America, https://openamerica.io/bill/115-HR-948/.
Bluebook (legal)
H.R. 948, 115th Cong. (2026), https://openamerica.io/bill/115-HR-948/.
Markdown link
[H.R. 948: Common Sense Housing Investment Act of 2017](https://openamerica.io/bill/115-HR-948/)
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