,i  #aacth ,,congress  #ast ,session    
,h4 ,r4 #befc  ,,in ,,the ,,house ,,of  
,,representatives  ,june #bg1 #bjac ,mr4
 ,quigley 7for himself and ,mr4 ,walz7  
introduced the following bill2 which was
 referred to the ,committee on ,ways and
 ,means  ,a ,,bill  ,to amend the       
,internal ,revenue ,code of #aihf to    
allow the mortgage interest deduction   
with respect to boats only if the boat  
is used as the principal residence of   
the taxpayer4  #a4 ,short title ,this   
,act may be cited as the ,ending        
,taxpayer ,subsidies for ,yachts ,act4  
#b4 ,mortgage interest deduction allowed
 with respect to boats only if boat is  
used as the principal residence of the  
taxpayer  7a7 ,in general ,subclause    
7ii7 of section #afc7;h77#d77;,a7 of the
 ,internal ,revenue ,code of #aihf is   
amended by inserting 7other than a boat7
 after #a other residence of the        
taxpayer4  7b7 ,effective date  7#a7 ,in
 general ,the amendment made by this    
section shall apply to indebtedness     

incurred after the date of the enactment
 of this ,act4  7#b7 ,special rule for  
refinancings ,for purposes of this      
subsection1 indebtedness resulting from 
the refinancing of indebtedness shall be
 treated as incurred on the date the    
refinanced indebtedness was incurred    
7taking into account the application of 
this paragraph in the case of multiple  
refinancings7 but only to the extent the
 indebtedness resulting from such       
refinancing does not exceed the         
refinanced indebtedness4