HR 1773
107th Congress
House
Taxation
Home ownership
Housing and Community Development
Housing finance
Income tax
Personal income tax
Tax credits
To amend the Internal Revenue Code of 1986 to allow a credit against income tax for the purchase of a principal residence by a first-time homebuyer.
Introduced: May 9, 2001
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 9, 2001
Referred to the House Committee on Ways and Means.
May 9, 2001
Introduced in House
Plain-English summary
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 $6,500. Requires married individuals filing jointly to both be first-time homebuyers. Makes this credit applicable to a principal residence only if the taxpayer enters into, on or after June 1, 2001, and before June 1, 2002, a binding contract to purchase the residence, and purchases and occupies the residence before January 1, 2003.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1