I 111th CONGRESS 1st Session H. R. 3801 IN THE HOUSE OF REPRESENTATIVES October 13, 2009 Mr. Sestak 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 increased first-time homebuyer credit and waiver of requirement to repay, and for other purposes.

1.

Short title

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

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.