Text of Senate Amendment 4339

Text of Senate Amendment 4339

Congressional Record, Volume 172 Issue 41 (Wednesday, March 4, 2026) [Congressional Record Volume 172, Number 41 (Wednesday, March 4, 2026)] [Senate] [Page S849] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 4339. Mr. MERKLEY submitted an amendment intended to be proposed to amendment SA 4308 proposed by Mr. Scott of South Carolina (for himself and Ms. Warren) to the bill H.R. 6644, a bill to increase the supply of housing in America, and for other purposes; which was ordered to lie on the table; as follows: On page 301, between lines 6 and 7, insert the following: (g) Disallowance of Certain Deductions for Large Institutional Investors.-- (1) Mortgage interest.-- (A) In general.--Section 163 of the Internal Revenue Code of 1986 is amended by redesignating subsection (n) as subsection (o) and by inserting after subsection (m) the following new subsection: ``(n) No Deduction for Large Institutional Investors.--No deduction shall be allowed under this chapter with respect to interest paid or accrued by a large institutional investor (as defined in section 901(a)(4) of the 21st Century ROAD to Housing Act).''. (2) Depreciation.--Section 167 of the Internal Revenue Code of 1986 is amended by redesignating subsection (i) as subsection (j) and by inserting after subsection (h) the following new subsection: ``(i) No Deduction for Large Institutional Investors.--No deduction shall be allowed under this section with respect to any property held by a large institutional investor (as defined in section 901(a)(4) of the 21st Century ROAD to Housing Act).''. (3) Effective date.--The amendments made by this subsection shall apply to taxable years beginning after the date that is 5 years after the date of the enactment of this Act. ______