Amended Bill Would Eliminate Mortgage Interest Deduction for Second Homes

The California Legislature is currently considering amending AB71, which would eliminate the mortgage interest deduction for second homes. The purpose is to fund an increase in low- income housing tax credits. The California Association of Realtors is opposing this Bill. It will be voted on by the California Assembly the week of May 29, 2017.

-Shannon B. Jones, Partner, sbj@sbj-law.com

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