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Historic Homeownership Assistance Act

Introduced: March 22, 2001 See on congress.gov

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Mar 22, 2001

Referred to the House Committee on Ways and Means.

Mar 22, 2001

Sponsor introductory remarks on measure. (CR E431)

Mar 22, 2001

Introduced in House

Plain-English summary Congressional Research Service

Historic Homeownership Assistance Act - Amends the Internal Revenue Code to allow a tax credit for 20 percent (up to a maximum limit of $40,000 for a joint return) of the qualified rehabilitation expenditures made by a taxpayer with respect to the certified rehabilitation of a qualified historic home which has been substantially rehabilitated and which is owned by the taxpayer and used as his or her principal residence. Allows the credit for such expenditures to be taken by a purchaser of the rehabilitated home. Permits, in lieu of the credit, a historic rehabilitation mortgage credit certificate, which may be transferred to a lender in exchange for a reduction in the rate of interest on the loan secured by the building.

What's happening now March 22, 2001

Referred to the House Committee on Ways and Means.

Committees of jurisdiction 1