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Permanent Tax Deduction for Mortgage Insurance Premiums

This act makes the tax deduction for mortgage insurance premiums permanent. This means that individuals paying such premiums will be able to reduce their taxable income every year, potentially leading to savings in their household budget. These changes apply to amounts paid from January 1, 2021.
Key points
The ability to deduct mortgage insurance premiums from income tax becomes permanent, with no expiration date.
Homeowners with mortgage insurance can expect ongoing tax relief, potentially lowering their annual tax burden.
The changes are effective retroactively from January 1, 2021, meaning they may apply to premiums already paid.
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Additional Information
Print number: 117_HR_2276
Sponsor: Rep. Brownley, Julia [D-CA-26]
Process start date: 2021-03-29
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Mortgage Insurance Tax Deduction Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_2276.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-29.

What are the main provisions?

Key points include:

  • The ability to deduct mortgage insurance premiums from income tax becomes permanent, with no expiration date.
  • Homeowners with mortgage insurance can expect ongoing tax relief, potentially lowering their annual tax burden.
  • The changes are effective retroactively from January 1, 2021, meaning they may apply to premiums already paid.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Brownley, Julia [D-CA-26].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Taxes Real Estate