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Bill PDFBillno should always have and extension i.e. h1.ih

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Congressional Record References

Bill Summary & Status

HR 3801 IH

To amend the Internal Revenue Code of 1986 to extend the increased first-time homebuyer credit and waiver of requirement to repay, and for other purposes.

October 13, 2009

Mr. SESTAK introduced the following bill; which was referred to the Committee on Ways and Means

To amend the Internal Revenue Code of 1986 to extend the increased first-time homebuyer credit and waiver of requirement to repay, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `First-Time Homebuyer Credit Continuation Act of 2009'.

SEC. 2. EXTENSION OF FIRST-TIME HOMEBUYER CREDIT.

(a) In General- Subsection (h) of section 36 of the Internal Revenue Code of 1986 is amended by striking `December 1, 2009' and inserting `December 1, 2010'.

(b) Extension of Waiver of Recapture Subparagraph- Subparagraph (D) of section 36(f)(4) of such Code is amended by striking `December 1, 2009' and inserting `December 1, 2010'.

(c) Election To Treat Purchase in Prior Year- Subsection (g) of section 36 of such Code is amended--

(1) by striking `December 1, 2009' and inserting `January 1, 2010', and

(2) by adding at the end the following: `In the case of such a purchase after December 31, 2009, and before December 1, 2010, a taxpayer may elect to treat such purchase as made on December 31, 2009, for purposes of this section (other than the preceding sentence and subsections (c) and (f)(4)(D)).'.

(d) Coordination With Similar District of Columbia Credit- Paragraph (4) of section 1400C(e) of such Code is amended by striking `December 1, 2009' and inserting `January 1, 2010'.

(e) Effective Date- The amendments made by this section shall apply to residences purchased after November 30, 2009.

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