I 

111TH CONGRESS 

1ST SESSION H. R. 802 

To amend the Internal Revenue Code of 1986 to extend and modify the 

first-time homebuyer credit. 

IN THE HOUSE OF REPRESENTATIVES 

FEBRUARY 3, 2009 

Mr. HELLER 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 extend 

and modify the first-time homebuyer credit. 

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

3 SECTION 1. EXTENSION AND MODIFICATION OF FIRST4 TIME HOMEBUYER CREDIT. 

5 (a) EXTENSION OF CREDIT.—Subsection (i) of sec6 tion 36 of the Internal Revenue Code of 1986 (as redesig7 nated by subsection (d)) is amended by striking ‘‘July 1, 

8 2009’’ and inserting ‘‘January 1, 2010’’. 

9 (b) REPEAL OF FIRST-TIME HOMEBUYER REQUIRE10 MENT.— 


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1 (1) IN GENERAL.—Subsection (a) of section 36 

2 of such Code is amended by striking ‘‘an individual 

3 who is a first-time homebuyer of a principal resi4 dence’’ and inserting ‘‘an individual who purchases 

5 a principal residence’’. 

6 (2) CONFORMING AMENDMENTS.— 

7 (A) Section 36(b)(1)(A) of such Code is 

8 amended by inserting ‘‘with respect to any tax9 payer for any taxable year’’ after ‘‘subsection 

10 (a)’’. 

11 (B) Section 36(c) of such Code is amended 

12 by striking paragraph (1) and by redesignating 

13 paragraphs (2) through (5) as paragraphs (1) 

14 through (4), respectively. 

15 (C) The heading of section 36 of such 

16 Code (and the item relating to such section in 

17 the table of sections for subpart C of part IV 

18 of subchapter A of chapter 1) are amended by 

19 striking ‘‘FIRST-TIME HOMEBUYER’’ and in20 serting ‘‘HOMEBUYER’’. 

21 (c) REPEAL OF RECAPTURE RULES.— 

22 (1) IN GENERAL.—Paragraph (4) of section 

23 36(f) of such Code is amended by adding at the end 

24 the following new subparagraph: 


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1 ‘‘(D) WAIVER OF RECAPTURE FOR PUR2 CHASES IN 2009.—In the case of any credit al3 lowed with respect to the purchase of a prin4 cipal residence after December 31, 2008— 

5 ‘‘(i) paragraph (1) shall not apply, 

6 and 

7 ‘‘(ii) paragraph (2) shall apply only if 

8 the disposition or cessation described in 

9 paragraph (2) with respect to such resi10 dence occurs during the 36-month period 

11 beginning on the date of the purchase of 

12 such residence by the taxpayer.’’. 

13 (2) CONFORMING AMENDMENT.—Subsection (g) 

14 of section 36 of such Code is amended by striking 

15 ‘‘subsection (c)’’ and inserting ‘‘subsections (c) and 

16 (f)(4)(D)’’. 

17 (d) DOWNPAYMENT REQUIREMENT.—Section 36 of 

18 such Code is amended by redesignating subsection (h) as 

19 subsection (i) and by inserting after subsection (g) the fol20 lowing new subsection: 

21 ‘‘(h) DOWNPAYMENT REQUIREMENT.—No credit 

22 shall be allowed under subsection (a) to any taxpayer with 

23 respect to the purchase of any residence unless such tax24 payer makes a downpayment of not less 5 percent of the 

25 purchase price of such residence. For purposes of the preVerDate Nov 24 2008 00:23 Feb 05, 2009 Jkt 079200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H802.IH H802

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1 ceding sentence, an amount shall not be treated as a 

2 downpayment if such amount is repayable by the taxpayer 

3 to any other person.’’. 

4 (e) EFFECTIVE DATE.— 

5 (1) IN GENERAL.—Except as provided in para6 graph (2), the amendments made by this section 

7 shall apply to residences purchased after December 

8 31, 2008. 

9 (2) DOWNPAYMENT REQUIREMENT.—The 

10 amendment made by subsection (d) shall apply to 

11 residences purchased after the date of the enactment 

12 of this Act. 

Æ 


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