United States Congress
Homeowners Premium Tax Reduction Act of 2024
August 27, 2024
Summary
This introduced bill proposes an above-the-line federal income tax deduction of up to $10,000 for annual homeowners insurance premiums paid on a principal residence. It would amend the Internal Revenue Code, not mortgage regulations, so it has no direct effect on mortgage origination, underwriting, or servicing practices. The deduction would apply to taxable years ending after enactment, but the bill has not been enacted into law.
AI-generated summary · Sep 2, 2026. Verify with your compliance counsel before acting.
How this was generated
We record the exact prompt, model, and output for every AI response so it can be audited for accuracy.
Source: https://www.congress.gov/bill/118th-congress/hr-bill/9411
Common questions
- What does "Homeowners Premium Tax Reduction Act of 2024" cover?
- This introduced bill proposes an above-the-line federal income tax deduction of up to $10,000 for annual homeowners insurance premiums paid on a principal…
- Which agency issued this update?
- This update was issued by United States Congress.
- When was it published?
- It was published on August 27, 2024.