Bill115th CongressFiled Jan 16, 2018Taxation
H.R. 4803
SALT Prepayment Deductibility Act
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (Jan 16, 2018)
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.)
What just happenedJan 16, 2018
Referred to the House Committee on Ways and Means.
Who’s behind it
Rep. Lance, Leonard [R-NJ-7](R-NJ)Sponsor
14 cosponsors5 D9 R
14cosponsors1committees3actions4subjects
- Introduced in HouseJan 16, 2018
- Jan 16, 2018IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jan 16, 2018IntroReferralIntro-H
Introduced in House
- Jan 16, 2018IntroReferral1000
Introduced in House