HR 5565
110th Congress
House
Taxation
Finance and Financial Sector
Foreclosure
Home ownership
Housing and Community Development
Income tax
Loan defaults
Mortgages
Single family housing
Tax credits
To amend the Internal Revenue Code of 1986 to provide a Federal income tax credit for certain home purchases.
Introduced: March 10, 2008
Introduced by:
Wilson, Joe
Republican
· South Carolina
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 10, 2008
Referred to the House Committee on Ways and Means.
Mar 10, 2008
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to allow purchasers of a single-family principal residence a one-time tax credit for up to $15,000 of the purchase price. Requires such a residence to be purchased after February 29, 2008, and before March 1, 2009, and that it be: (1) a new previously unoccupied residence for which a building permit has been issued and construction began on or before September 1, 2007; (2) an owner-occupied residence with a mortgage indebtedness in default on or before March 1, 2008; or (3) in foreclosure and owned by the mortgagor or the mortgagor's agent.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1