I 111th CONGRESS 1st Session H. R. 1993 IN THE HOUSE OF REPRESENTATIVES April 21, 2009 Mr. Courtney introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to modify the first-time homebuyer credit.

1.

Short title

This Act may be cited as the First-Time Homebuyer Credit Extension Act of 2009.

2.

Modification of first-time homebuyer credit

(a)

Extension of credit

Subsection (h) of section 36 of the Internal Revenue Code is amended by striking December 1, 2009 and inserting January 1, 2011. (b)

Extension of waiver of recapture

Subparagraph (D) of section 36(f)(4) of such Code is amended— (1)by striking December 31, 2008, and before December 1, 2009 and inserting April 8, 2008, and before January 1, 2011, and (2)in the heading by striking for purchases in 2009. (c)

Election To treat purchase in prior year

Subsection (g) of such Code is amended to read as follows: (g)

Election To treat purchase in prior year

For purposes of this section (other than subsections (c) and (f)(4)(D)), a taxpayer may elect to treat a purchase of a principal residence— (1)after December 31, 2008, and before January 1, 2010, as made on December 31, 2008, and (2)after December 31, 2009, and before January 1, 2011, as made on December 31, 2009. . (d)

Effective date

The amendments made by this section shall take effect on the date of the enactment of this Act.