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house Bill H.R. 3422

Tax Credits for Veterans Who Are First-Time Homebuyers

Argument in favor

Lowers veteran homelessness. Aids disabled veterans who cannot afford customizing for their home on their own.

Argument opposed

Concerns about cost. Veterans are locked in to their property for three years, in order to keep the tax credit.

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      Committee on Ways and Means
    IntroducedOctober 30th, 2013

What is House Bill H.R. 3422?

This bill would provide veterans who are first time homebuyers with a tax credit that is 10% of the purchase price of the property in question. The bill also includes an additional credit of up to $8,000 for the cost of installing "fixtures or movable facilities" for disabled veterans. If enacted, the tax credit provided by the bill would be apply to homes purchased prior to January 1st, 2017. The tax credit would be recaptured if a veteran sold his or her property within three years after buying it. 

Impact

The bill affects veterans who have never bought a home.

Cost of House Bill H.R. 3422

A CBO cost is currently unavailable.

AKA

Veterans Homebuyer Accessibility Act of 2013

Official Title

To amend the Internal Revenue Code of 1986 to allow a credit for veteran first-time homebuyers and for adaptive housing and mobility improvements for disabled veterans, and for other purposes.