[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3902 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 3902

  To amend the Internal Revenue Code of 1986 to extend the first-time 
    homebuyer tax credit and to eliminate the first-time homebuyer 
  requirement and increase the adjusted gross income limitations with 
            respect to such credit, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 22, 2009

  Mr. Heller 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 eliminate the first-time homebuyer 
  requirement and increase the adjusted gross income limitations with 
            respect to such credit, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. CREDIT FOR CERTAIN HOME PURCHASES.

    (a) Elimination of First-Time Homebuyer Requirement.--
            (1) In general.--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''.
            (2) Conforming amendments.--
                    (A) Subsection (c) of section 36 of such Code is 
                amended by striking paragraph (1) and by redesignating 
                paragraphs (2), (3), (4), and (5) as paragraphs (1), 
                (2), (3), and (4), respectively.
                    (B) Section 36 of such Code is amended by striking 
                ``first-time homebuyer credit'' in the heading and 
                inserting ``home purchase credit''.
                    (C) Subparagraph (W) of section 26(b)(2) of such 
                Code is amended by striking ``homebuyer credit'' and 
                inserting ``home purchase credit''.
            (3) Clerical amendment.--The table of sections for subpart 
        C of part IV of subchapter A of chapter 1 of such Code is 
        amended by striking the item relating to section 36 and 
        inserting the following new item:

``Sec. 36. Home purchase credit.''.
    (b) Extension.--
            (1) In general.--Subsection (h) of section 36 of such Code 
        is amended by striking ``December 1, 2009'' and inserting 
        ``July 1, 2010''.
            (2) Waiver of recapture.--Subparagraph (D) of section 
        36(f)(4) of such Code is amended--
                    (A) by striking ``December 1, 2009'' and inserting 
                ``July 1, 2010'', and
                    (B) by inserting ``and 2010'' after ``2009'' in the 
                heading thereof.
            (3) Election to treat purchase in prior year.--Subsection 
        (g) of section 36 of such Code is amended--
                    (A) by striking ``December 1, 2009'' and inserting 
                ``January 1, 2010'', and
                    (B) by adding at the end the following: ``In the 
                case of a purchase of a principal residence after 
                December 31, 2009, and before July 1, 2010, a taxpayer 
                may elect to treat such purchase as made on December 
                31, 2009, for purposes of this section (other than 
                subsections (c) and (f)(4)(D)).''.
    (c) Modification of Gross Income Limitation.--Subsection (b) of 
section 36 of such Code is amended--
            (1) by striking ``$150,000'' in paragraph (2)(A)(i)(II) and 
        inserting ``$300,000'', and
            (2) by striking ``$75,000'' in such paragraph (2)(A)(i)(II) 
        and inserting ``$150,000''.
    (d) Waiver of Accelerated Recapture for Members of the Armed 
Forces.--Paragraph (4) of section 36(f) of such Code is amended by 
adding at the end the following new subparagraph:
                    ``(E) Relocation of members of the armed forces.--
                Paragraph (2) shall not apply in the case of a member 
                of the Armed Forces of the United States on active duty 
                who moves pursuant to a military order and incident to 
                a permanent change of station.''.
    (e) Effective Date.--
            (1) In general.--Except as provided in paragraph (2), the 
        amendments made by this section shall apply to residences 
        purchased on or after the date of the enactment of this Act.
            (2) Extension.--The amendments made by subsection (b) shall 
        apply to residences purchased after November 30, 2009.
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