3.0.0 2863 2023-01-11T13:48:34Z 2023-09-05T17:28:05Z House HR 2021-04-28 117 [Congressional Record Volume 167, Number 73 (Wednesday, April 28, 2021)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. BLUMENAUER:H.R. 2863.Congress has the power to enact this legislation pursuantto the following:Clause 1 of Section 8 of Article I of the Constitution[Page H2127]]]> hswm00 Ways and Means Committee House Standing Referred to 2021-04-28T22:03:30Z 2021-04-28 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2021-04-28 Introduced in House IntroReferral Intro-H 9 Library of Congress 2021-04-28 Introduced in House IntroReferral 1000 9 Library of Congress B000574 Rep. Blumenauer, Earl [D-OR-3] EARL BLUMENAUER D OR 3 N P000613 Rep. Panetta, Jimmy [D-CA-20] Jimmy Panetta D CA 20 2021-04-28 True B001278 Rep. Bonamici, Suzanne [D-OR-1] Suzanne Bonamici D OR 1 2021-06-14 False U000040 Rep. Underwood, Lauren [D-IL-14] Lauren Underwood D IL 14 2021-09-17 False T000468 Rep. Titus, Dina [D-NV-1] Dina Titus D NV 1 2022-03-15 False D000631 Rep. Dean, Madeleine [D-PA-4] Madeleine Dean D PA 4 2022-07-01 False W000800 Rep. Welch, Peter [D-VT-At Large] Peter Welch D VT 0 2022-11-07 False L000593 Rep. Levin, Mike [D-CA-49] Mike Levin D CA 49 2022-12-21 False Taxation Housing finance and home ownership Income tax credits Military personnel and dependents Taxation 00 2021-04-28 Introduced in House 2021-07-06T17:16:01Z First-Time Homebuyer Act of 2021

This bill modifies the first-time homebuyer tax credit. Specifically, it increases the allowable dollar amount of the credit from $8,000 to $15,000, revises the income formula for determining the maximum allowable credit amount, replaces the limitation on the credit based on purchase price (currently, $800,000) with a limitation based on area median purchase price, and revises rules relating to recapture of the credit and to members of the Armed Forces.

]]> First-Time Homebuyer Act of 2021 Display Title First-Time Homebuyer Act of 2021 Official Title as Introduced To amend the Internal Revenue Code to provide for a first-time homebuyer credit, and for other purposes. Introduced in House IH Short Title(s) as Introduced First-Time Homebuyer Act of 2021 Introduced in House IH Introduced in House 2021-04-28T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117hr2863ih/xml/BILLS-117hr2863ih.xml 2021-04-28 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.