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- H.R.776
H.R.776: To amend the Internal Revenue Code of 1986 to allow a credit against income tax for the purchase of a principle residence by a first-time homebuyer.
About This Bill
- This bill was introduced in the 103rd Congress
- This bill is primarily about housing and community development
- Introduced Feb. 3, 1993
- Latest Major Action June 24, 1993
Bill Sponsor
Bill Cosponsors
34 (4 Democrats, 30 Republicans)
Bill Summary
Amends the Internal Revenue Code to allow a first-time homebuyer who purchases a principal residence a tax credit of ten percent of the purchase price of such residence. Limits the credit to $2,500. Requires married individuals filing jointly to both be first-time buyers. Allows the use of 50 percent of the credit in the first taxable year in which the residence is purchased and the remaining 50 percent in the succeeding taxable year. Makes...
(Source: Library of Congress)
Bill Actions
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Sponsor introductory remarks on measure.
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Referred to the House Committee on Ways and Means.
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Referred to the Subcommittee on Select Revenue Measures.
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Subcommittee Hearings Held.
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| Feb. 3, 1993 |
Introduced in the House by Nancy Lee Johnson (R-Conn.) |