There is one summary for this bill. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (11/05/2009)

Amends Internal Revenue Code provisions relating to the first-time homebuyer tax credit to: (1) extend such credit to all purchasers of a principal residence (currently, limited to first-time homebuyers); (2) extend such credit and its waiver of recapture provisions (for sales of principal residences before the required holding period) through November 30, 2010; (3) extend through December 31, 2009, the election to treat, for tax purposes, a residence purchased in 2009 as having been purchased on December 31, 2008; (4) allow taxpayers to treat, for tax purposes, a residence purchased after December 31, 2009, and before December 1, 2010, as having been purchased on December 31, 2009; (5) increase adjusted gross income thresholds for determining eligibility for such credit; and (6) allow a waiver of recapture for members of the uniformed services, the Foreign Service, or employees of the intelligence community who sell their principal residences after receiving an order for official extended duty service.