AB71

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AB71 is a bill introduced in the 2017-18 California legislature to eliminate state-level Home mortgage interest deduction on second homes, and use the increased revenues to fund the state Low-Income Housing Tax Credit program.

Summary from California Economic Summit: 

Taxes: credits: low-income housing: allocation increase.
Raises $300 million annually for low-income housing tax credits by eliminating mortgage interest deduction on second homes

 

References

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