A bill to amend the Internal Revenue Code of 1986 to modify the first-time homebuyer credit in the case of members of the Armed Forces and certain other Federal employees, and for other purposes.

Summary: Service Members Home Ownership Tax Act of 2009 - Amends the Internal Revenue Code to: (1) exempt members of the uniformed services, the Foreign Service, and employees of the intelligence community on official extended duty service from the recapture requirements of the first-time homebuyer tax credit; (2) extend the first-time homebuyer tax credit through November 30, 2010, for individuals serving on official extended duty service outside the United States for at least 90 days in 2009; (3) exclude from gross income payments to military personnel to compensate for declines in housing values due to a base closure or realignment; and (4) increase penalties for failure to file a partnership or S corporation tax return.

Amends the Corporate Estimated Tax Shift Act of 2009 to increase corporate estimated tax payments in the third quarter of 2014 by an additional 0.5%.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Service Members Home Ownership Tax 
Act of 2009''.

SEC. 2. WAIVER OF RECAPTURE OF FIRST-TIME HOMEBUYER CREDIT FOR 
              INDIVIDUALS ON QUALIFIED OFFICIAL EXTENDED DUTY.

    (a) In General.--Paragraph (4) of section 36(f) of the Internal 
Revenue Code of 1986 is amended by adding at the end the following new 
subparagraph:
                    ``(E) Special rule for members of the armed forces, 
                etc.--
                            ``(i) In general.--In the case of the 
                        disposition of a principal residence by an 
                        individual (or a cessation referred to in 
                        paragraph (2)) after December 31, 2008, in 
                        connection with Government orders received by 
                        such individual, or such individual's spouse, 
                        for qualified official extended duty service--
                                    ``(I) paragraph (2) and subsection 
                                (d)(2) shall not apply to such 
                                disposition (or cessation), and
                                    ``(II) if such residence was 
                                acquired before January 1, 2009, 
                                paragraph (1) shall not apply to the 
                                taxable year in which such disposition 
                                (or cessation) occurs or any subsequent 
                                taxable year.
                            ``(ii) Qualified official extended duty 
                        service.--For purposes of this section, the 
                        term `qualified official extended duty service' 
                        means service on qualified official extended 
                        duty as--
                                    ``(I) a member of the uniformed 
                                services,
                                    ``(II) a member of the Foreign 
                                Service of the United States, or
                                    ``(III) as an employee of the 
                                intelligence community.
                            ``(iii) Definitions.--Any term used in this 
                        subparagraph which is also used in paragraph 
                        (9) of section 121(d) shall have the same 
                        meaning as when used in such paragraph.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to dispositions and cessations after December 31, 2008.

SEC. 3. EXTENSION OF FIRST-TIME HOMEBUYER CREDIT FOR INDIVIDUALS ON 
              QUALIFIED OFFICIAL EXTENDED DUTY OUTSIDE THE UNITED 
              STATES.

    (a) In General.--Subsection (h) of section 36 of the Internal 
Revenue Code of 1986 is amended--
            (1) by striking ``This section'' and inserting ``(1) In 
        general.--This section'', and
            (2) by adding at the end the following:
    ``(2) Special Rules for Individuals on Qualified Official Extended 
Duty Outside the United States.--In the case of any individual who 
serves on qualified official extended duty service outside the United 
States for at least 90 days in calendar year 2009 and, if married, such 
individual's spouse--
            ``(A) paragraph (1) shall be applied by substituting 
        `December 1, 2010' for `December 1, 2009',
            ``(B) subsection (f)(4)(D) shall be applied by substituting 
        `December 1, 2010' for `December 1, 2009', and
            ``(C) in lieu of subsection (g), in the case of a purchase 
        of a principal residence after December 31, 2009, and before 
        July 1, 2010, the 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)).''.
    (b) Coordination With First-Time Homebuyer Credit for District of 
Columbia.--Paragraph (4) of section 1400C(e) of such Code is amended by 
inserting ``(December 1, 2010, in the case of a purchase subject to 
section 36(h)(2))'' after ``December 1, 2009''.
    (c) Effective Date.--The amendments made by this section shall 
apply to residences purchased after November 30, 2009.

SEC. 4. EXCLUSION FROM GROSS INCOME OF QUALIFIED MILITARY BASE 
              REALIGNMENT AND CLOSURE FRINGE.

    (a) In General.--Subsection (n) of section 132 of the Internal 
Revenue Code of 1986 is amended--
            (1) in subparagraph (1) by striking ``this subsection) to 
        offset the adverse effects on housing values as a result of a 
        military base realignment or closure'' and inserting ``the 
        American Recovery and Reinvestment Tax Act of 2009)'', and
            (2) in subparagraph (2) by striking ``clause (1) of''.
    (b) Effective Date.--The amendments made by this act shall apply to 
payments made after February 17, 2009.

SEC. 5. INCREASE IN PENALTY FOR FAILURE TO FILE A PARTNERSHIP OR S 
              CORPORATION RETURN.

    (a) In General.--Sections 6698(b)(1) and 6699(b)(1) of the Internal 
Revenue Code of 1986 are each amended by striking ``$89'' and inserting 
``$110''.
    (b) Effective Date.--The amendments made by this section shall 
apply to returns for taxable years beginning after December 31, 2009.

SEC. 6. TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES.

    The percentage under paragraph (1) of section 202(b) of the 
Corporate Estimated Tax Shift Act of 2009 in effect on the date of the 
enactment of this Act is increased by 0.5 percentage points.