H.R. 3875 · 108th Congress
To amend the Internal Revenue Code of 1986 to provide that qualified homeowner downpayment assistance is a…
Full title
To amend the Internal Revenue Code of 1986 to provide that qualified homeowner downpayment assistance is a charitable purpose.
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
CollinsSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to designate the provision of qualified homeowner dowpayment assistance as a "charitable purpose" for purposes of income, estate, and gift taxes. Defines "qualified homeowner downpayment assistance" as a gift of cash for the purpose of providing any downpayment for the purchase of a principal residence.
What it does: CRS summary · Introduced in House · Mar 2, 2004
Amends the Internal Revenue Code to designate the provision of qualified homeowner dowpayment assistance as a "charitable purpose" for purposes of income, estate, and gift taxes. Defines "qualified homeowner downpayment assistance" as a gift of cash for the purpose of providing any downpayment for the purchase of a principal residence. Denies an income tax deduction to certain donors of homeowner downpayment assistance who receive a direct financial benefit in connection with the purchase of a principal residence for which the purchaser received downpayment assistance.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to provide that qualified homeowner downpayment assistance is a charitable purpose.
Latest action (Mar 2, 2004): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Mar 2, 2004
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.