H.R.952: To amend the Internal Revenue Code of 1986 to provide for an enhanced deduction for qualified residence interest on acquisition indebtedness for heritage homes.
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To amend the Internal Revenue Code of 1986 to provide for an enhanced deduction for qualified residence interest on acquisition indebtedness for heritage homes. 2/8/2007--Introduced. Heritage Homes Tax Incentive Act of 2007 - Amends the Internal Revenue Code to grant a tax deduction (whether or not the taxpayer itemizes deductions) for 125 percent of residence interest paid or accrued on acquisition indebtedness for heritage homes. Defines a "heritage home" as a taxpayer's principal residence that is at least 50 years old and a certified historic structure in a registered historic district. Comment on Bill - Be the first to leave a comment!
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