Common Sense Housing Investment Act of 2013
Latest action · Mar 15, 2013 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.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 15, 2013
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Common Sense Housing Investment Act of 2013 - 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 2014 and 2018; (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.
Directs the Secretary of the Treasury to apply the savings from the enactment of this Act to the Housing Trust Fund, for assistance under the Section 8 low-income housing program, and for the Public Housing Capital Fund.
Cosponsors 16
Members who signed on, in the order they did. Signatures ran from Mar 15, 2013 to Dec 4, 2014; 1 is an original cosponsor, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-VA | Robert C. "Bobby" Scott | Original | Mar 15, 2013 |
| D-CA | Barbara Lee | Apr 12, 2013 | |
| D-AZ | Raúl M. Grijalva | Apr 24, 2013 | |
| D-WA | Jim McDermott | May 7, 2013 | |
| D-NY | Louise McIntosh Slaughter | May 14, 2013 | |
| D-NY | Yvette D. Clarke | May 20, 2013 | |
| D-NY | Hakeem S. Jeffries | Jun 3, 2013 | |
| D-FL | Frederica S. Wilson | Jun 18, 2013 | |
| D-CA | Alan S. Lowenthal | Jun 28, 2013 | |
| D-NY | Paul Tonko | Sep 17, 2013 | |
| D-MD | Donna F. Edwards | Jan 9, 2014 | |
| D-CA | Michael M. Honda | Jan 28, 2014 | |
| D-MI | John Conyers, Jr. | May 6, 2014 | |
| D-NC | G. K. Butterfield | Sep 9, 2014 | |
| D-IL | Bobby L. Rush | Sep 16, 2014 | |
| D-FL | Alcee L. Hastings | Dec 4, 2014 |
Withdrew 2 Mark Pocan D-WI Jun 25, 2013·Janice D. Schakowsky D-IL Jul 22, 2013
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Ways and Means Committee | Referred Mar 15, 2013 |
| House | Financial Services Committee | Referred Mar 15, 2013 |
Actions 2
Everything that happened, newest first.
- Mar 15, 2013Introduced in House
- Mar 15, 2013Referred 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.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the page H1548.
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R43367 | Housing Issues in the 113th Congress Archived | Report | Apr 15, 2015 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Internal Revenue Code of 1986 to replace the mortgage interest deduction with a nonrefundable credit for indebtedness secured by a residence, to provide affordable housing to extremely low-income families, and for other purposes.
- Short Titles as Introduced
- Common Sense Housing Investment Act of 2013
Subjects
Assigned by the Library of Congress. Policy area: 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
- Taxation
Text 1
Each version as it was printed, newest first.
- Mar 15, 2013Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
