To amend the Internal Revenue Code of 1986 to allow a deduction for State and local real property taxes paid by certain taxpayers aged 65 or older who do not itemize their deductions and to provide for the establishment of senior citizen real property tax accounts.
Seniors Real Property Tax Relief Act of 1998 - Amends the Internal Revenue Code to: (1) allow a deduction for State and local real property taxes paid by certain taxpayers aged 65 or older who do not itemize their deductions; and (2) provide for the establishment of "senior citizen real property tax accounts" (trusts created exclusively for the purpose of paying the qualified property tax expenses of qualified beneficiaries).
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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