,,ii  #aaith ,,congress  #ast ,session  
,s4 #ce  ,,in ,,the ,,senate ,,of ,,the 
,,united ,,states  ,january #h1         
#bjbe,mr4 ,scott of ,florida introduced 
the following bill2 which was read twice
 and referred to the ,committee on      
,finance  ,a ,,bill  ,to amend the      
,internal ,revenue ,code of #aihf to    
create an above the line deduction for  
certain homeowners insurance premiums4  
#a4 ,short title ,this ,act may be cited
 as the ,homeowners ,premium ,tax       
,reduction ,act of #bjbe4  #b4          
,deduction for homeowners insurance     
premiums  7a7 ,in general ,part ,,vii of
 subchapter ,b of chapter #a of the     
,internal ,revenue ,code of #aihf is    
amended by redesignating section #bbd as
 section #bbe and by inserting after    
section #bbc the following new section3 
#bbd4 ,homeowners insurance premiums    
7a7 ,allowance of deduction ,in the case
 of an individual1 there shall be       
allowed as a deduction an amount equal  
to so much of the qualified insurance   

premiums paid or incurred during the    
taxable year as does not exceed #aj1jjj4
  7b7 ,qualified insurance premiums ,for
 purposes of this section1 with respect 
to an individual1 the term qualified    
insurance premiums means annual policy  
premiums paid or incurred for homeowners
 insurance with respect to the principal
 residence of the individual4  7c7      
,principal residence ,for purposes of   
this section1 the term principal        
residence has the same meaning as when  
used in section #aba4  4  7b7 ,deduction
 allowed in determining adjusted gross  
income ,section #fb7;a7 of the ,internal
 ,revenue ,code of #aihf is amended by  
inserting after paragraph 7#ba7 the     
following new paragraph3  7#bb7         
,homeowners insurance premiums ,the     
deduction allowed by section #bbd4  4   
7c7 ,clerical amendment ,the table of   
sections for part ,,vii of subchapter ,b
 of chapter #a of the ,internal ,revenue
 ,code of #aihf is amended by striking  
the item relating to section #bbd and by

 inserting after the item relating to   
section #bbc the following new items3   
,sec4 #bbd4 ,homeowners insurance       
premiums4,sec4 #bbe4 ,cross reference4  
4  7d7 ,effective date ,the amendments  
made by this section shall apply to     
taxable years ending after the date of  
the enactment of this ,act4