| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | I | |
| 2 | 2 | 118THCONGRESS | |
| 3 | 3 | 1 | |
| 4 | 4 | STSESSION H. R. 1260 | |
| 5 | 5 | To amend the Internal Revenue Code of 1986 to increase the limitation | |
| 6 | 6 | on the deduction for State and local taxes. | |
| 7 | 7 | IN THE HOUSE OF REPRESENTATIVES | |
| 8 | 8 | FEBRUARY28, 2023 | |
| 9 | 9 | Mr. S | |
| 10 | 10 | ANTOSintroduced the following bill; which was referred to the | |
| 11 | 11 | Committee on Ways and Means | |
| 12 | 12 | A BILL | |
| 13 | 13 | To amend the Internal Revenue Code of 1986 to increase | |
| 14 | 14 | the limitation on the deduction for State and local taxes. | |
| 15 | 15 | Be it enacted by the Senate and House of Representa-1 | |
| 16 | 16 | tives of the United States of America in Congress assembled, 2 | |
| 17 | 17 | SECTION 1. SHORT TITLE. 3 | |
| 18 | 18 | This Act may be cited as the ‘‘SALT Relief Act’’. 4 | |
| 19 | 19 | SEC. 2. INCREASE IN LIMITATION ON DEDUCTION FOR 5 | |
| 20 | 20 | STATE AND LOCAL TAXES. 6 | |
| 21 | 21 | (a) I | |
| 22 | 22 | NGENERAL.—Section 164(b)(6)(B) of the Inter-7 | |
| 23 | 23 | nal Revenue Code of 1986 is amended by striking 8 | |
| 24 | 24 | ‘‘$10,000 ($5,000’’ and inserting ‘‘$50,000 ($25,000’’. 9 | |
| 25 | 25 | VerDate Sep 11 2014 04:39 Mar 14, 2023 Jkt 039200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H1260.IH H1260 | |
| 26 | 26 | kjohnson on DSK79L0C42PROD with BILLS 2 | |
| 27 | 27 | •HR 1260 IH | |
| 28 | 28 | (b) EFFECTIVEDATE.—The amendment made by 1 | |
| 29 | 29 | this section shall apply to taxable years beginning after 2 | |
| 30 | 30 | December 31, 2022. 3 | |
| 31 | 31 | Æ | |
| 32 | 32 | VerDate Sep 11 2014 04:39 Mar 14, 2023 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H1260.IH H1260 | |
| 33 | 33 | kjohnson on DSK79L0C42PROD with BILLS |