H.R. 883 · 109th Congress
Rural Housing Tax Credit Act of 2005
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
DavisSponsor7 cosponsors · 2 D, 4 R, 1 I
7 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Rural Housing Tax Credit Act of 2005 - Amends the Internal Revenue Code to allow a nonrefundable tax credit (the lesser of ten percent of the purchase price or $5,000) for the purchase of a principal residence in a rural area by a first-time homebuyer. Limits the amount of such credit based on taxpayer modified adjusted gross income.
What it does: CRS summary · Introduced in House · Feb 17, 2005
Rural Housing Tax Credit Act of 2005 - Amends the Internal Revenue Code to allow a nonrefundable tax credit (the lesser of ten percent of the purchase price or $5,000) for the purchase of a principal residence in a rural area by a first-time homebuyer. Limits the amount of such credit based on taxpayer modified adjusted gross income.
Requires the recapture of credit amounts if a taxpayer fails to use a residence for which a tax credit is allowed as a principal residence or sells such residence within five years of purchase.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Rural Housing Tax Credit Act of 2005
Latest action (Feb 17, 2005): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Feb 17, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.