SALT Deductibility Act

I 117TH CONGRESS 1ST SESSION H. R. 613 To amend the Internal Revenue Code of 1986 to repeal the limitation on the deduction for certain taxes, including State and local property and income taxes. IN THE HOUSE OF REPRESENTATIVES JANUARY 28, 2021 Mr. SUOZZI (for himself, Mr. SCHNEIDER, Mr. GARBARINO, Mr. GOTTHEIMER, Mr. JONES, Mrs. KIM of California, and Mr. SMITH of New Jersey) introduced the following bill; which was referred to the Com- mittee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to repeal the limitation on the deduction for certain taxes, includ- ing State and local property and income taxes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Securing Access to 4 Lower Taxes by ensuring Deductibility Act’’ or the 5 ‘‘SALT Deductibility Act’’. 6 VerDate Sep 11 2014 04:27 Feb 20, 2021 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H613.IH H613 kjohnson on DSK79L0C42PROD with BILLS 2 •HR 613 IH SEC. 2. REPEAL OF LIMITATION ON DEDUCTION FOR STATE 1 AND LOCAL, ETC. TAXES. 2 (a) IN GENERAL.—Section 164(b) of the Internal 3 Revenue Code of 1986 is amended by striking paragraph 4 (6). 5 (b) EFFECTIVE DATE.—The amendment made by 6 this section shall apply to taxable years beginning after 7 December 31, 2020. 8 Æ VerDate Sep 11 2014 04:27 Feb 20, 2021 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H613.IH H613 kjohnson on DSK79L0C42PROD with BILLS