I 

111TH CONGRESS 

1ST SESSION H. R. 1317 

To amend the Internal Revenue Code of 1986 to provide a tax credit to 

individuals who pay their mortgages on time. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 4, 2009 

Mr. SHUSTER introduced the following bill; which was referred to the 

Committee on Ways and Means 

A BILL 

To amend the Internal Revenue Code of 1986 to provide 

a tax credit to individuals who pay their mortgages on time. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. CREDIT FOR MAKING MORTGAGE PAYMENTS 

4 ON TIME. 

5 (a) IN GENERAL.—Subpart C of part IV of sub6 chapter A of chapter 1 of the Internal Revenue Code of 

7 1986 (relating to refundable credits) is amended by insert8 ing after section 36A the following new section: 


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1 ‘‘SEC. 36B. CREDIT FOR MAKING MORTGAGE PAYMENTS ON 

2 TIME. 

3 ‘‘(a) IN GENERAL.—In the case of an individual who 

4 is liable for one or more principal residence mortgage pay5 ments which are due during 2008 and 2009 and who 

6 makes all of such payments on time, there shall be allowed 

7 as a credit against the tax imposed by this subtitle for 

8 the taxpayer’s 2009 taxable year an amount equal to 

9 $5,000 ($2,500 in the case of a married individual filing 

10 a separate return). 

11 ‘‘(b) PRINCIPAL RESIDENCE MORTGAGE PAY12 MENTS.—For purposes of this section, the term ‘principal 

13 residence mortgage payment’ means any payment on in14 debtedness which is secured by the taxpayer’s principal 

15 residence (within the meaning of section 121). Such term 

16 shall not include any payment on any indebtedness which 

17 is secured by a residence which in located outside the 

18 United States. 

19 ‘‘(c) LENDER STATEMENT OF COMPLIANCE.—No 

20 credit shall be allowed under subsection (a) unless the tax21 payer obtains from each lender to whom a payment de22 scribed in subsection (a) is due a statement that such tax23 payer was not delinquent in making any such payment. 

24 ‘‘(d) 2009 TAXABLE YEAR.—For purposes of this 

25 section, the term ‘2009 taxable year’ means the taxable 

26 year ending on December 31, 2009 (or, in the case of taxVerDate Nov 24 2008 06:39 Mar 05, 2009 Jkt 079200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H1317.IH H1317

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1 payer whose taxable year does not end on such date, the 

2 taxpayer’s first taxable year ending after such date).’’. 

3 (b) CONFORMING AMENDMENTS.— 

4 (1) Section 6211(b)(4)(A) of such Code is 

5 amended by inserting ‘‘36B,’’ after ‘‘36A,’’. 

6 (2) Section 1324(b)(2) of title 31, United 

7 States Code, is amended by inserting ‘‘36B,’’ after 

8 ‘‘36A,’’. 

9 (3) The table of sections for subpart C of part 

10 IV of subchapter A of chapter 1 of the Internal Rev11 enue Code of 1986 is amended by inserting after the 

12 item relating to section 36 the following new item: 

‘‘Sec. 36B. Credit for making mortgage payments on time.’’. 

13 (c) EFFECTIVE DATE.—The amendments made by 

14 this section shall apply to taxable years ending on or after 

15 December 31, 2009. 

Æ 


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