I 

111TH CONGRESS 

1ST SESSION H. R. 2801 

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

first-time homebuyer credit. 

IN THE HOUSE OF REPRESENTATIVES 

JUNE 10, 2009 

Mr. COBLE 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 expand 

and extend 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. SHORT TITLE. 

4 This Act may be cited as the ‘‘Home Ownership 

5 Moves the Economy (HOME) Act of 2009’’. 

6 SEC. 2. MODIFICATION OF FIRST-TIME HOMEBUYER CRED7 IT. 

8 (a) EXPANSION OF CREDIT TO ALL HOMEBUYERS.— 

9 Subsection (a) of section 36 of the Internal Revenue Code 

10 of 1986 is amended by striking ‘‘who is a first-time homeVerDate Nov 24 2008 03:56 Jun 11, 2009 Jkt 079200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H2801.IH H2801

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1 buyer of a principal residence’’ and inserting ‘‘who pur2 chases a principal residence’’. 

3 (b) EXTENSION OF CREDIT.—Subsection (h) of sec4 tion 36 of such Code is amended by striking ‘‘December 

5 1, 2009’’ and inserting ‘‘January 1, 2011’’. 

6 (c) REPEAL OF LIMITATION BASED ON MODIFIED

7 ADJUSTED GROSS INCOME.— 

8 (1) IN GENERAL.—Subsection (b) of section 36 

9 of such Code is amended by striking paragraph (2). 

10 (2) CONFORMING AMENDMENTS.—Subsection 

11 (b) of such Code, as amended by paragraph (1), is 

12 amended— 

13 (A) by redesignating paragraph (1) as sub14 section (b), 

15 (B) in subsection (b), as so redesignated, 

16 by redesignating subparagraphs (A), (B), and 

17 (C) as paragraphs (1), (2), and (3), respec18 tively, and 

19 (C) in paragraph (2), as redesignated by 

20 subparagraph (B) of this paragraph, by striking 

21 ‘‘subparagraph (A)’’ and inserting ‘‘paragraph 

22 (1)’’. 

23 (d) EXTENSION OF WAIVER OF RECAPTURE.—Sub24 paragraph (D) of section 36(f)(4) of such Code is amend25 ed— 


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1 (1) by striking ‘‘before December 1, 2009’’ and 

2 inserting ‘‘before January 1, 2011’’, and 

3 (2) in the heading by striking ‘‘FOR PURCHASES

4 IN 2009’’. 

5 (e) CONFORMING AMENDMENTS.— 

6 (1) Subsection (c) of section 36 of such Code 

7 is amended by striking paragraph (1) and by redes8 ignating paragraphs (2), (3), (4), and (5) as para9 graphs (1), (2), (3), and (4), respectively. 

10 (2) Section 36 of such Code is amended by 

11 striking ‘‘FIRST-TIME HOMEBUYER CREDIT’’ in 

12 the heading and inserting ‘‘HOME PURCHASE

13 CREDIT’’. 

14 (3) The table of sections for subpart C of part 

15 IV of subchapter A of chapter 1 of such Code is 

16 amended by striking the item relating to section 36 

17 and inserting the following new item: 

‘‘Sec. 36. Home purchase credit.’’. 

18 (4) Subparagraph (W) of section 26(b)(2) of 

19 such Code is amended by striking ‘‘homebuyer cred20 it’’ and inserting ‘‘home purchase credit’’. 

21 (f) EFFECTIVE DATE.—The amendments made by 

22 this section shall take effect on the date of the enactment 

23 of this Act. 

Æ 


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