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- S.1396
S.1396: A bill to amend the Internal Revenue Code of 1986 to allow a credit against income tax for the purchase of a principal residence by a first-time homebuyer.
About This Bill
- This bill was introduced in the 107th Congress
- This bill is primarily about taxation
- Introduced Sept. 4, 2001
- Latest Major Action Sept. 4, 2001
Bill Sponsor
Bill Cosponsors
3 (2 Democrats, 2 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 $6,500. Requires married individuals filing jointly to both be first-time homebuyers. Makes this credit applicable to a principal residence only if the taxpayer enters into, on or after September 1, 2001, and before September 1, 2002, a binding contract to...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Read twice and referred to the Committee on Finance.
|
|
| Sept. 4, 2001 |
Introduced in the Senate by Kent Conrad (D-N.D.) |