I 111th CONGRESS 1st Session H. R. 2905 IN THE HOUSE OF REPRESENTATIVES June 16, 2009 Mr. Moran of Kansas 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 extend the first-time homebuyer tax credit and to modify the credit by repealing the first-time homebuyer requirement and waiving recapture.

1.

Short title

This Act may be cited as the Homebuyer Tax Credit Expansion Act of 2009.

2.

Modification of first-time homebuyer credit

(a)

Repeal of first-time homebuyer requirement

(1)

In general

(A)Subsection (a) of section 36 of the Internal Revenue Code of 1986 is amended by striking who is a first-time homebuyer of a principal residence and inserting who purchases a principal residence. (B)Subsection (c) of section 36 of such Code is amended by striking paragraph (1) (defining first-time homebuyer) and by redesignating paragraphs (2), (3), (4), and (5) as paragraphs (1), (2), (3), and (4), respectively. (2)

Conforming amendment

The heading for section 36 of such Code is amended by striking First-time. (b)

Waiver of recapture

(1)

In general

Section 36 of such Code is amended by striking subsection (f) and by redesignating subsections (g) and (h) as subsections (f) and (g), respectively. (2)

Conforming amendment

Subsection (f) of section 36 of such Code (as redesignated by this section) is amended by striking subsection (c) and (f)(4)(D) and inserting subsection (c). (c)

Extension

Subsection (g) of section 36 of such Code (as redesignated by this section) is amended by striking December 1, 2009 and inserting January 1, 2012. (d)

Effective dates

(1)

In general

Except as provided in paragraph (2), the amendments made by this section shall apply to residences purchased after the date of the enactment of this Act. (2)

Subsection (b)

The amendments made by subsection (b) shall take effect as included in the enactment of section 3011(a) of the Housing Assistance and Tax Relief Act of 2008.