3.0.0 3940 2024-09-12T11:03:18Z 2024-09-12T11:03:18Z Senate S S 2024-03-14 118 ssfi00 Finance Committee Senate Standing Referred to 2024-03-14T15:22:33Z First-Time Homebuyer Tax Credit Act of 2024 118 7707 HR 2024-03-15 Referred to the House Committee on Ways and Means. Identical bill CRS 2024-03-14 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2024-03-14 Introduced in Senate IntroReferral 10000 9 Library of Congress W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI N H001046 Sen. Heinrich, Martin [D-NM] Martin Heinrich D NM T. 2024-03-14 True W000800 Sen. Welch, Peter [D-VT] Peter Welch D VT 2024-03-14 True S001203 Sen. Smith, Tina [D-MN] Tina Smith D MN 2024-03-14 True R000122 Sen. Reed, Jack [D-RI] John Reed D RI F. 2024-03-14 True B001230 Sen. Baldwin, Tammy [D-WI] Tammy Baldwin D WI 2024-03-14 True R000608 Sen. Rosen, Jacky [D-NV] Jacklyn Rosen D NV 2024-03-14 True B001277 Sen. Blumenthal, Richard [D-CT] Richard Blumenthal D CT 2024-03-19 False V000128 Sen. Van Hollen, Chris [D-MD] Chris Van Hollen D MD 2024-04-15 False T000464 Sen. Tester, Jon [D-MT] Jon Tester D MT 2024-09-11 False Taxation Taxation 2024-04-02T15:45:13Z 00 2024-03-14 Introduced in Senate 2024-08-02T13:36:19Z First-Time Homebuyer Tax Credit Act of 2024

This bill modifies the first-time homebuyer tax credit. It allows a first-time homebuyer of a principal residence a tax credit for 10% of the purchase price of the residence, not to exceed $15,000. The bill 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 transfer and recapture of the credit and to members of the Armed Forces. 

]]> First-Time Homebuyer Tax Credit Act of 2024 Display Title 45 First-Time Homebuyer Tax Credit Act of 2024 2024-09-12T11:03:18Z Short Title(s) as Introduced 101 First-Time Homebuyer Tax Credit Act of 2024 2024-05-24T13:33:38Z Introduced in Senate IS Official Title as Introduced 6 A bill to amend the Internal Revenue Code of 1986 to provide for a first-time homebuyer credit, and for other purposes. 2024-03-30T01:44:01Z Introduced in Senate IS Introduced in Senate 2024-03-14T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118s3940is/xml/BILLS-118s3940is.xml 2024-03-14 Read twice and referred to the Committee on Finance. 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.