,i  #aag? ,,congress  #a/ ,session  ,h4 
,r4 #fjdi  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,novemb] #ah1         
#bjba,mr4 ,smi? ( ,new ,j]sey introduc$ 
! foll[+ bill2 :i* 0 ref]r$ to !        
,committee on ,ways & ,means  ,a ,,bill 
,to am5d ! ,int]nal ,rev5ue ,code (     
#aihf to modify ! limitation on !       
d$uction = ,/ate & local taxes1 etc4    
#a4 ,modification ( limitation on       
d$uction = ,/ate & local taxes1 etc  7a7
 ,9 g5]al ,p>agraph 7#f7 ( section      
#afd7;b7 ( ! ,int]nal ,rev5ue ,code (   
#aihf is am5d$-- 7#a7 by /rik+ #bjbe 9 !
 head+ & ins]t+ #bjca1  7#b7 by /rik+   
,janu>y #a1 #bjbf & ins]t+ ,janu>y #a1  
#bjcb1  7#c7 9 subp>agraph 7,a71 by     
ins]t+ or section #baf7;a77#a7 aft]     
subsection 7a77#a71  7#d7 9 subp>agraph 
7,b7-- 7,a7 by ins]t+ 7& any tax        
describ$ 9 any su* p>agraph tak5 into   
acc\nt "u section #baf7;a77#a77 aft]    
p>agraph 7#e7 ( ?is subsection1 &  7,b7 
by /rik+ %all n exce$ #aj1jjj 7#e1jjj 9 
! case ( a m>ri$ individual fil+ a      

sep>ate return74 & ins]t+ %all n exce$--
 7i7 9 ! case ( any taxable ye> beg9n+  
aft] ,decemb] #ca1 #bjbj1 & be=e ,janu>y
 #a1 #bjca1 #hj1jjj 7#dj1jjj 9 ! case ( 
an e/ate1 tru/1 or m>ri$ individual fil+
 a sep>ate return71 &  7ii7 9 ! case (  
any taxable ye> beg9n+ aft] ,decemb]    
#ca1 #bjcj1 & be=e ,janu>y #a1 #bjcb1   
#aj1jjj 7#e1jjj 9 ! case ( an e/ate1    
tru/1 or m>ri$ individual fil+ a sep>ate
 return74  1 &  7#e7 by /rik+ ! la/     
s5t5ce & ins]t+ ! foll[+3 ,9 ! case (   
taxes paid dur+ a taxable ye> beg9n+    
be=e ,janu>y #a1 #bjca1 ! ,secret>y %all
 prescribe regulations or o!r guidance  
:i* treat all or a portion ( su* taxes z
 paid 9 a taxable ye> or ye>s o!r ?an ! 
taxable ye> 9 :i* actually paid z       
necess>y or appropriate to prev5t !     
avoidance ( ! limitations ( ?is         
p>agraph44  7b7 ,effective date ,!      
am5dm5ts made by ?is section %all apply 
to taxable ye>s beg9n+ aft] ,decemb]    
#ca1 #bjbj4  7c7 ,no inf]5ce ,! am5dm5ts
 made by p>agraphs 7#c71 7#d77;,a71 &   

7#e7 %all n be con/ru$ to create any    
inf]5ce ) respect to ! prop] application
 ( section #afd7;b77#f7 or section      
#baf7;a7 ) respect to any taxable ye>   
beg9n+ be=e ,janu>y #a1 #bjba4