REPORTING OF POINTS ON MORTGAGE LOANS.

SEC. 7646. REPORTING OF POINTS ON MORTGAGE LOANS. (a) General Rule.—Paragraph (2) of section 6050H(b) (relating to form and manner of returns) is amended by striking “and” at the end of subparagraph (B), by redesignating subparagraph (C) as subparagraph (D) and by inserting after subparagraph (B) the following new subparagraph: “(C) the amount of points on the mortgage received during the calendar year and whether such points were paid directly by the borrower, and”. (b) Technical Amendments.— (1) Subparagraph (B) of section 6050H(b)(1) is amended by inserting “(other than points)” after “such interest”. (2) Paragraph (2) of section 6050H(d) is amended— (A) by inserting “(other than points)” after “subsection (a)(2)”, and (B) by inserting before the period at the end thereof the following: “(and the information required under subsection (b)(2)(C))”. (c) Effective Date.—The amendments made by this section shall apply to returns and statements the due date for which (determined without regard to extensions) is after December 31, 1991.