Loading chat...
PA HB218
Bill
Status
Introduced
1/22/2025
Primary Sponsor
Thomas Kutz
Click for details
AI Summary
- Mortgage insurance premiums become deductible from taxable income on Pennsylvania annual personal income tax returns
- "Mortgage insurance" is defined as insurance protecting against nonpayment or default on individual mortgages or loans in residential mortgage transactions, including mortgage guaranty insurance
- The deduction cannot reduce taxable income below zero
- Applies to taxable years beginning after December 31, 2025
- Amends Section 303 of the Tax Reform Code of 1971 by adding subsection (a.13)
Legislative Description
In personal income tax, further providing for classes of income.
Last Action
Referred to Finance
1/22/2025
Committee Referrals
Finance1/22/2025
Full Bill Text
No bill text available