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- S.1988
S.1988: First-Time Homebuyers' Tax Credit Act of 2007
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about taxation
- Introduced Aug. 3, 2007
- Latest Major Action Aug. 3, 2007
- See the three similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
3 (2 Democrats, 1 Independent Democrat, 1 Republican)
Bill Summary
First-Time Homebuyers' Tax Credit Act of 2007 - Amends the Internal Revenue Code to: (1) allow an income-based, one-time refundable tax credit for first-time homebuyers of ten percent of a principal residence's purchase price ($3,000 maximum credit, $6,000 maximum credit for joint filers); (2) allow transfer of such credit (within 30 days of transfer application) as payment towards related downpayment and closing costs; and (3) apply the...
(Source: Library of Congress)
Bill Actions
Date | Description |
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Read twice and referred to the Committee on Finance.
|
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Aug. 3, 2007 |
Introduced in the Senate by Debbie Stabenow (D-Mich.) |