S. 253 · 111th Congress
Fix Housing First Homebuyer Tax Credit Act
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
IsaksonSponsor5 cosponsors · 5 R
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Fix Housing First Homebuyer Tax Credit Act - Amends the Internal Revenue Code to revise the tax credit for first-time homebuyers by: (1) eliminating the first-time homebuyer requirement (thus making such credit available to all homebuyers); (2) eliminating the repayment requirement for such credit except for resales of a principal residence, or failure to…
What it does: CRS summary · Introduced in Senate · Jan 15, 2009
Fix Housing First Homebuyer Tax Credit Act - Amends the Internal Revenue Code to revise the tax credit for first-time homebuyers by: (1) eliminating the first-time homebuyer requirement (thus making such credit available to all homebuyers); (2) eliminating the repayment requirement for such credit except for resales of a principal residence, or failure to occupy such residence, at any time within three years of purchase; (3) exempting from the repayment requirement members of the Armed Forces who are ordered to relocate; (4) extending the period for purchasing a residence until December 31, 2009; (5) allowing taxpayers who purchase a residence before 2010 to claim such credit on either their 2008 or 2009 tax returns; (6) increasing the maximum amount of such credit and the adjusted gross income thresholds for reductions in the credit amount; (7) allowing taxpayers to transfer their anticipated credit amount to another individual for specified purposes, including making a downpayment on a portion of a purchase price of a principal residence; and (8) extending eligibility for the credit to taxpayers who purchase residences financed with state and local tax-exempt bonds.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Fix Housing First Homebuyer Tax Credit Act
Latest action (Jan 15, 2009): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jan 15, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.