I 
111TH CONGRESS 
1ST SESSION 
H. R. 214 
To amend the Internal Revenue Code of 1986 to provide a Federal income 
tax credit for certain home purchases. 
IN THE HOUSE OF REPRESENTATIVES 
JANUARY 6, 2009 
Mr. WILSON of South Carolina 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 
a Federal income tax credit for certain home purchases. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. CREDIT FOR CERTAIN HOME PURCHASES. 
(a) ALLOWANCE OF CREDIT.—Subpart A of part IV 
of subchapter A of chapter 1 of the Internal Revenue Code 
of 1986 (relating to refundable credits) is amended by in-
serting after section 25D the following new section: 
‘‘SEC. 25E. CREDIT FOR CERTAIN HOME PURCHASES. 
‘‘(a) ALLOWANCE OF CREDIT.— 
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‘‘(1) IN GENERAL.—In the case of an individual 
who is a purchaser of a qualified principal residence 
during the taxable year, there shall be allowed as a 
credit against the tax imposed by this chapter an 
amount equal to so much of the purchase price of 
the residence as does not exceed $15,000. 
‘‘(2) ALLOCATION OF CREDIT AMOUNT.—The 
amount of the credit allowed under paragraph (1) 
shall be equally divided among the 3 taxable years 
beginning with the taxable year in which the pur-
chase of the qualified principal residence is made. 
‘‘(b) LIMITATIONS.— 
‘‘(1) DATE OF PURCHASE.—The credit allowed 
under subsection (a) shall be allowed only with re-
spect to purchases made— 
‘‘(A) after February 29, 2008, and 
‘‘(B) before March 1, 2009. 
‘‘(2) LIMITATION
BASED
ON
AMOUNT
OF 
TAX.—In the case of a taxable year to which section 
26(a)(2) does not apply, the credit allowed under 
subsection (a) for any taxable year shall not exceed 
the excess of— 
‘‘(A) the sum of the regular tax liability 
(as defined in section 26(b)) plus the tax im-
posed by section 55, over 
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‘‘(B) the sum of the credits allowable 
under this subpart (other than this section) for 
the taxable year. 
‘‘(3) ONE-TIME ONLY.— 
‘‘(A) IN GENERAL.—If a credit is allowed 
under this section in the case of any individual 
(and such individual’s spouse, if married) with 
respect to the purchase of any qualified prin-
cipal residence, no credit shall be allowed under 
this section in any taxable year with respect to 
the purchase of any other qualified principal 
residence by such individual or a spouse of such 
individual. 
‘‘(B) JOINT PURCHASE.—In the case of a 
purchase of a qualified principal residence by 2 
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 
purchase of any other qualified principal resi-
dence. 
‘‘(c) QUALIFIED PRINCIPAL RESIDENCE.— 
‘‘(1) IN GENERAL.—For purposes of this sec-
tion, the term ‘qualified principal residence’ means 
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an eligible single-family residence that is purchased 
to be the principal residence of the purchaser. 
‘‘(2) ELIGIBLE SINGLE-FAMILY RESIDENCE.— 
‘‘(A) IN GENERAL.—For purposes of this 
subsection, the term ‘eligible single-family resi-
dence’ means a single-family structure that is— 
‘‘(i) a new previously unoccupied resi-
dence for which a building permit is issued 
and construction begins on or before Sep-
tember 1, 2007, 
‘‘(ii) an owner-occupied residence with 
respect to which the owner’s acquisition in-
debtedness 
(as 
defined 
in 
section 
163(h)(3)(B), determined without regard 
to clause (ii) thereof) is in default on or 
before March 1, 2008, or 
‘‘(iii) a residence with respect to 
which a foreclosure event has taken place 
and which is owned by the mortgagor or 
the mortgagor’s agent. 
‘‘(B) CERTIFICATION.—In the case of an 
eligible single-family residence described in sub-
paragraph (A)(i), no credit shall be allowed 
under this section unless the purchaser submits 
a certification by the seller of such residence 
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that such residence meets the requirements of 
such subparagraph. 
‘‘(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) 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 ‘$7,500’ 
for ‘$15,000’ in subsection (a)(1). 
‘‘(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 $15,000. 
‘‘(2) PURCHASE.—In defining the purchase of a 
qualified principal residence, rules similar 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. 
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