US Congress Senate Bill 253 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Republican 5-1)
Status: Introduced on January 15 2009 - 25% progression, died in chamber
Action: 2009-01-15 - Read twice and referred to the Committee on Finance.
Text: Latest bill text (Introduced) [PDF]

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.

Fix Housing First Homebuyer Tax Credit Act

Sen. Saxby Chambliss [R-GA]	Sen. Bob Corker [R-TN]	Sen. Johnny Isakson [R-GA]	Sen. Mel Martinez [R-FL]
Sen. Arlen Specter [D-PA]	Sen. David Vitter [R-LA]

Date	Chamber	Action
2009-01-15		Read twice and referred to the Committee on Finance.

HB1119 (Related) 2009-02-23 - Referred to the House Committee on Ways and Means.
SB740 (Related) 2009-03-30 - Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S4065)

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/senate-bill/253/all-info
Text	https://www.congress.gov/111/bills/s253/BILLS-111s253is.pdf