Text: H.R.1993 — 111th Congress (2009-2010)All Bill Information (Except Text)

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Introduced in House (04/21/2009)


111th CONGRESS
1st Session
H. R. 1993

To amend the Internal Revenue Code of 1986 to modify the first-time homebuyer credit.


IN THE HOUSE OF REPRESENTATIVES
April 21, 2009

Mr. Courtney introduced the following bill; which was referred to the Committee on Ways and Means


A BILL

To amend the Internal Revenue Code of 1986 to modify the first-time homebuyer credit.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “First-Time Homebuyer Credit Extension Act of 2009”.

SEC. 2. Modification of first-time homebuyer credit.

(a) Extension of credit.—Subsection (h) of section 36 of the Internal Revenue Code is amended by striking “December 1, 2009” and inserting “January 1, 2011”.

(b) Extension of waiver of recapture.—Subparagraph (D) of section 36(f)(4) of such Code is amended—

(1) by striking “December 31, 2008, and before December 1, 2009” and inserting “April 8, 2008, and before January 1, 2011”, and

(2) in the heading by striking “for purchases in 2009”.

(c) Election To treat purchase in prior year.—Subsection (g) of such Code is amended to read as follows:

“(g) Election To treat purchase in prior year.—For purposes of this section (other than subsections (c) and (f)(4)(D)), a taxpayer may elect to treat a purchase of a principal residence—

“(1) after December 31, 2008, and before January 1, 2010, as made on December 31, 2008, and

“(2) after December 31, 2009, and before January 1, 2011, as made on December 31, 2009.”.

(d) Effective date.—The amendments made by this section shall take effect on the date of the enactment of this Act.