,i  #aad? ,,congress  #b;d ,session  ,h4
 ,r4 #dfif  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,m>* #c1 #bjaf ,ms4   
,e%oo 7= h]self & ,mr4 ,?ompson (       
,cali=nia7 introduc$ ! foll[+ bill2 :i* 
0 ref]r$ to ! ,committee on ,ways &     
,means  ,a ,,bill  ,to am5d ! ,int]nal  
,rev5ue ,code ( #aihf to all[ a d$uction
 = home[n]s association assessm5ts4  #a4
 ,%ort title ,?is ,act may be cit$ z !  
,help+ ,our ,middle-,income ,e>n]s ,act 
or ! ,,home ,act4  #b4 ,d$uction (      
home[n]s association assessm5ts  7a7 ,9 
g5]al ,"p ,,vii ( sub*apt] ,b ( *apt] #a
 ( ! ,int]nal ,rev5ue ,code ( #aihf is  
am5d$ by r$esignat+ section #bbd z      
section #bbe & by ins]t+ aft] section   
#bbc ! foll[+ new section3  #bbd4       
,home[n]s association assessm5ts  7a7 ,9
 g5]al ,9 ! case ( an individual1 !re   
%all be all[$ z a d$uction an am\nt     
equal to ! qualifi$ home[n]s association
 assessm5ts paid by ! taxpay] dur+ !    
taxable ye>4  7b7 ,limitations  7#a7    
,doll> limitation ,except z provid$ 9   

p>agraph 7#b71 ! d$uction all[$ by      
subsection 7a7 = ! taxable ye> %all n   
exce$ #e1jjj4  7#b7 ,limitation bas$ on 
modifi$ adju/$ gross income  7,a7 ,9    
g5]al ,! am\nt :i* w\ld 7b = ?is        
p>agraph7 be all[able z a d$uction "u   
?is section %all be r$uc$ 7b n bel[ z]o7
 by ! am\nt det]m9$ "u subp>agraph 7,b74
  7,b7 ,am\nt ( r$uction ,! am\nt       
det]m9$ "u ?is subp>agraph is ! am\nt   
:i* be>s ! same ratio to ! am\nt :i*    
w\ld be s tak5 into acc\nt z--  7i7 !   
excess (-- 7,i7 ! taxpay]'s modifi$     
adju/$ gross income = su* taxable ye>1  
ov]  7,,ii7 #ajj1jjj 7#aej1jjj 9 ! case 
( a jo9t return71 be>s to  7ii7 #ae1jjj4
  7,c7 ,modifi$ adju/$ gross income ,!  
t]m modifi$ adju/$ gross income means ! 
adju/$ gross income ( ! taxpay] = !     
taxable ye> increas$ by any am\nt       
exclud$ f gross income "u section #iaa1 
#ica1 or #icc4  7,d7 ,co/-(-liv+        
adju/m5t  7i7 ,9 g5]al ,9 ! case ( any  
taxable ye> beg9n+ 9 a cal5d> ye> aft]  
#bjaf1 ! doll> am\nts "u subp>agraph    

7,b77i77,,ii7 %all be increas$ by an    
am\nt equal to--  7,i7 su* doll> am\nt1 
multipli$ by  7,,ii7 ! co/-(-liv+       
adju/m5t det]m9$ "u section #a7;f77#c7 =
 ! cal5d> ye> 9 :i* ! taxable ye> beg9s1
 det]m9$ by sub/itut+ cal5d> ye> #bjae =
 cal5d> ye> #aiib 9 subp>agraph 7,b7    
!re(4  7ii7 ,r\nd+ ,if any am\nt aft]   
adju/m5t "u clause 7i7 is n a multiple (
 #ejj1 su* am\nt %all be r\nd$ to ! next
 l[] multiple ( #ejj4  7c7 ,qualifi$    
home[n]s association assessm5ts ,=      
purposes ( ?is section-- 7#a7 ,9 g5]al  
,! t]m qualifi$ home[n]s association    
assessm5ts means regul>ly occurr+1      
m&atory f9ancial assessm5ts 7o!r ?an a  
special assessm5t7--  7,a7 paid by a    
taxpay] to a home[n]s association )     
respect to ! taxpay]'s pr9cipal resid5ce
 7)9 ! mean+ ( section #aba71  7,b7 t   
directly b5efit ! taxpay]'s pr9cipal    
resid5ce1 &  7,c7 ! obligation ( :i* to 
pay arises f ! taxpay]'s m&atory &      
automatic memb]%ip 9 su* home[n]s       
association4  7#b7 ,home[n]s association

 ,! t]m home[n]s association has ! mean+
 giv5 su* t]m 9 section #ebh7;c77#a7    
7det]m9$ )\t reg>d to time%>e           
associations74  4  7b7 ,in=mation       
report+ ,subp>t ,b ( "p ,,iii ( sub*apt]
 ,a ( *apt] #fa ( su* ,code is am5d$ by 
add+ at ! end ! foll[+ new section3     
#fjej,x4 ,returns relat$ to home[n]s    
association assessm5ts  7a7 ,9 g5]al    
,any home[n]s association :i* receives  
qualifi$ home[n]s association assessm5ts
 f any individual dur+ any cal5d> ye>   
%all make a return 7at su* "t & 9 su* =m
 & mann]7 sett+ =?--  7#a7 ! "n1        
address1 & ,,t9 ( ea* su* individual1 & 
7#b7 ! am\nt ( qualifi$ home[n]s        
association assessm5ts receiv$ f ea* su*
 individual dur+ ! cal5d> ye>4  7b7     
,/atem5ts ,to be furni%$ to individuals 
) respect to :om in=mation is requir$ ,e
 p]son requir$ to make a return "u      
subsection 7a7 %all furni% to ea*       
individual ^: "n is requir$ to be set =?
 9 su* return "u su* subsection a writt5
 /atem5t %[+--  7#a7 ! "n1 address1 &   

phone numb] ( ! in=mation contact ( !   
p]son requir$ to make su* return1 &     
7#b7 ! in=mation requir$ by subsection  
7a7 ) respect to ! individual4  ,!      
writt5 /atem5t requir$ "u ! prec$+      
s5t5ce %all be furni%$ on or be=e       
,janu>y #ca ( ! ye> foll[+ ! cal5d> ye> 
= :i* ! return "u subsection 7a7 0      
requir$ to be made4  7c7 ,def9itions ,= 
purposes ( ?is section1 ! t]ms home[n]s 
association & qualifi$ home[n]s         
association assessm5ts %all h !         
respective mean+s giv5 su* t]ms by      
section #bbd4  4  7c7 ,d$uction n treat$
 z miscellane\s itemiz$ d$uction        
,section #fg7;b7 ( su* ,code is am5d$ by
 /rik+ & at ! end ( p>agraph 7#aa71 by  
/rik+ ! p]iod at ! end ( p>agraph 7#ab7 
& ins]t+ 1 &1 & by add+ at ! end !      
foll[+ new p>agraph3  7#ac7 ! d$uction  
"u section #bbd 7relat+ to home[n]s     
association assessm5ts74  4  7d7        
,cl]ical am5dm5t ,! table ( sections =  
,"p ,,vii ( sub*apt] ,b ( *apt] #a ( su*
 ,code is am5d$ by /rik+ ! item relat+  

to section #bbd & ins]t+ ! foll[+3      
,sec4 #bbd4 ,home[n]s association       
assessm5ts4 ,sec4 #bbe4 ,cross ref]5ce4 
4  7e7 ,effective date ,! am5dm5ts made 
by ?is section %all apply to taxable    
ye>s beg9n+ aft] ,decemb] #ca1 #bjae4