I 

108TH CONGRESS 

1ST SESSION H. R. 1952

To amend the Internal Revenue Code of 1986 to provide that the firsttime homebuyer credit for the District of Columbia be made permanent, 

and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

MAY 5, 2003

Ms. NORTON 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 provide 

that the first-time homebuyer credit for the District of 

Columbia be made permanent, and for other purposes.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘District of Columbia 

5 $5000 Homebuyer Credit Act of 2003’’. 
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1 SEC. 2. FIRST-TIME HOMEBUYER CREDIT FOR DISTRICT OF 

2 COLUMBIA MADE PERMANENT; OTHER MODI3 FICATIONS. 

4 (a) CREDIT MADE PERMANENT.—Subsection (i) of 

5 section 1400C of the Internal Revenue Code of 1986 (re6 lating to first-time homebuyer credit for District of Co7 lumbia) is amended by striking ‘‘, and before January 1, 

8 2004’’. 

9 (b) TREATMENT OF PURCHASES IN CONNECTION

10 WITH DIVORCE.—

11 (1) IN GENERAL.—Subsection (c) of section 

12 1400C of such Code is amended by adding at the 

13 end the following new paragraph: 

14 ‘‘(4) PURCHASES IN CONNECTION WITH DI15 VORCE.—Notwithstanding paragraphs (1) and (2), 

16 an individual shall be treated as a first-time home17 buyer with respect to the purchase of any residence 

18 if—

19 ‘‘(A) the sale of the residence is pursuant 

20 to a divorce or separation instrument (as de21 fined in section 71(b)(2)) relating to such indi22 vidual and such individual’s spouse or former 

23 spouse, and 

24 ‘‘(B) such residence was the principal resi25 dence of such individual at the time of such sale 
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1 or for any period ending not more than a rea2 sonable period before such sale. 

3 The Secretary shall prescribe such regulations as 

4 may be necessary to prevent the abuse of the pur5 poses of this paragraph.’’

6 (2) EFFECTIVE DATE.—The amendment made 

7 by paragraph (1) shall apply to purchases after the 

8 date of the enactment of this Act. 

9 (c) CREDIT ALLOWED AGAINST REGULAR TAX AND

10 ALTERNATIVE MINIMUM TAX.—

11 (1) IN GENERAL.—Subsection (d) of section 

12 1400C of such Code is amended to read as follows: 

13 ‘‘(d) LIMITATION BASED ON AMOUNT OF TAX.—

14 ‘‘(1) IN GENERAL.—The credit allowed under 

15 subsection (a) for the taxable year shall not exceed 

16 the excess of—

17 ‘‘(A) the sum of the regular tax liability 

18 (as defined in section 26(b)) plus the tax im19 posed by section 55, over 

20 ‘‘(B) the sum of the credits allowable 

21 under subpart A of part IV of subchapter A 

22 and section 27 for the taxable year. 

23 ‘‘(2) CARRYOVER OF CREDIT.—If the credit al24 lowable under subsection (a) exceeds the limitation 

25 imposed by paragraph (1) for such taxable year, 
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1 such excess shall be carried to the succeeding tax2 able year and added to the credit allowable under 

3 subsection (a) for such taxable year.’’

4 (2) CONFORMING AMENDMENT.—Section 

5 1400C of such Code is amended by striking sub6 section (g) and by redesignating subsections (h) and 

7 (i) as subsections (g) and (h), respectively. 

8 (3) EFFECTIVE DATE.—The amendment made 

9 by paragraph (1) shall apply to taxable years begin10 ning after the date of the enactment of this Act.

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