or more unmarried individuals or by 2 married 
individuals filing separately, no credit shall be 
allowed under this section if a credit under this 
section has been allowed to any of such individ-
uals in any taxable year with respect to the pur-
chase of any other qualified principal residence. 
‘‘(c) QUALIFIED PRINCIPAL RESIDENCE.—For pur-
poses of this section—
‘‘(1) IN
GENERAL.—The term ‘qualified prin-
cipal residence’ means an eligible single-family resi-
dence that is purchased to be the principal residence 
of the purchaser. 
‘‘(2) ELIGIBLE SINGLE-FAMILY RESIDENCE.—
‘‘(A) IN GENERAL.—The term ‘eligible sin-
gle-family residence’ means a single-family 
structure that is a residence—
‘‘(i) upon which foreclosure has been 
filed pursuant to the laws of the State in 
which the residence is located, and 
‘‘(ii) which—
‘‘(I) is a new previously unoccu-
pied residence for which a building 
permit was issued and construction 
began on or before September 1, 2007, 
or
‘‘(II) was occupied as a principal 
residence by the mortgagor for at least 
1 year prior to the foreclosure filing. 
‘‘(B) CERTIFICATION.—In the case of an eli-
gible single-family residence described in sub-
paragraph (A)(ii)(I), no credit shall be allowed 
under this section unless the purchaser submits 
a certification by the seller of such residence that 
such residence meets the requirements of such 
subparagraph. 
‘‘(3) PRINCIPAL
RESIDENCE.—The term ‘prin-
cipal residence’ has the same meaning as when used 
in section 121. 
‘‘(d) DENIAL OF DOUBLE BENEFIT.—No credit shall 
be allowed under this section for any purchase for which 
a credit is allowed under section 1400C. 
‘‘(e) RECAPTURE IN THE CASE OF CERTAIN DISPOSI-
TIONS.—In the event that a taxpayer—
‘‘(1) disposes of the qualified principal residence 
with respect to which a credit is allowed under sub-
section (a), or 
‘‘(2) fails to occupy such residence as the tax-
payer’s principal residence, 
at any time within 24 months after the date on which the 
taxpayer purchased such residence, then the remaining por-
tion of the credit allowed under subsection (a) shall be dis-
allowed in the taxable year during which such disposition 
occurred or in which the taxpayer failed to occupy the resi-
dence as a principal residence, and in any subsequent tax-
able year in which the remaining portion of the credit 
would, but for this subsection, have been allowed. 
‘‘(f) SPECIAL RULES.—
‘‘(1) JOINT PURCHASE.—
‘‘(A) MARRIED INDIVIDUALS FILING SEPA-
RATELY.—In the case of 2 married individuals 
filing separately, subsection (a) shall be applied 
to each such individual by substituting ‘$3,500’ 
for ‘$7,000’ in paragraph (1) thereof. 
‘‘(B) UNMARRIED
INDIVIDUALS.—If 2 or 
more individuals who are not married purchase 
a qualified principal residence, the amount of 
the credit allowed under subsection (a) shall be 
allocated among such individuals in such man-
ner as the Secretary may prescribe, except that 
the total amount of the credits allowed to all 
such individuals shall not exceed $7,000. 
‘‘(2) PURCHASE; PURCHASE PRICE.—Rules simi-
lar to the rules of paragraphs (2) and (3) of section 
1400C(e) (as in effect on the date of the enactment of 
this section) shall apply for purposes of this section.