House Bill 4803
115th Congress(2017-2018)
SALT Prepayment Deductibility Act
Introduced
Introduced in House on Jan 16, 2018
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
4803
Congress
115
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No House votes have been held for this bill.
Summary
SALT Prepayment Deductibility Act
This bill specifies that, for the purpose of the federal tax deduction for certain state and local taxes, amounts paid in 2017 for real property taxes assessed for 2018 must be treated as paid or accrued within 2017.
(Under current law, individual deductions for certain state and local taxes are limited during 2018-2025 to $10,000 per year for individuals or $5,000 for married individuals filing a separate return.)
January 16, 2018
01/16/2018
Referred to the House Committee on Ways and Means.
01/16/2018
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:39:00 PM