Action Alert! Bill AB 71 (Chiu) Takes Away the Interest Deduction for Vessels that Qualify as Second Homes!
This bill eliminates a tax incentive that can make or break the decision to purchase a vessel. If this deduction is eliminated, it will affect many aspects of boating, not just those purchasing vessels. It is estimate there are roughly 40-45,000 boats in California that could qualify for this exemption if they are currently financed. [...]