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HR 4724 102th Congress House Taxation Home ownership Housing and Community Development Income tax Tax credits

To amend the Internal Revenue Code of 1986 to allow a credit for the purchase of a principal residence by first-time homebuyers.

Introduced: April 1, 1992 See on congress.gov
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This bill died when the 102nd Congress ended
It never became law before the 102nd Congress (1991–1992) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 1, 1992
Referred to the House Committee on Ways and Means.
Apr 1, 1992
Introduced in House
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to allow a first-time homebuyer who purchases a principal residence a tax credit of ten percent of the purchase price of such residence. Limits the credit to $5,000. Requires married individuals filing jointly to both be first-time homebuyers. Allows the use of 50 percent of the credit in the first taxable year in which the residence is purchased and the remaining 50 percent in the succeeding taxable year. Makes this credit applicable to residences acquired after February 1, 1992, and before January 1, 1993, or for which a binding contract is entered into during such period.

What's happening now April 1, 1992

Referred to the House Committee on Ways and Means.

 Related & companion bills 1
  • HR 4821 Identical bill To amend the Internal Revenue Code of 1986 to allow a credit for the purchase of a principal residence by first-time ho…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 3
D
Hoyer, Steny H.
Maryland · Apr 29, 1992
 D
Kaptur, Marcy
Ohio · Apr 29, 1992
 D
Wyden, Ron
Oregon · Apr 9, 1992
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 4724: To amend the Internal Revenue Code of 1986 to allow a credit for the purchase of a principal residence by first-time homebuyers.. 102nd Congress. Open America. https://openamerica.io/bill/102-HR-4724/
MLA
"H.R. 4724: To amend the Internal Revenue Code of 1986 to allow a credit for the purchase of a principal residence by first-time homebuyers.." 102nd Congress, 2026, Open America, https://openamerica.io/bill/102-HR-4724/.
Bluebook (legal)
H.R. 4724, 102nd Cong. (2026), https://openamerica.io/bill/102-HR-4724/.
Markdown link
[H.R. 4724: To amend the Internal Revenue Code of 1986 to allow a credit for the purchase of a principal residence by first-time homebuyers.](https://openamerica.io/bill/102-HR-4724/)
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