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Committee on AppropriationsCommittee on Ways and MeansIntroducedOctober 8th, 2009
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Home Buyer Tax Credit Act of 2009
To amend the Internal Revenue Code of 1986 to provide a Federal income tax credit for certain home purchases.
Home Buyer Tax Credit Act of 2009 - Amends the Internal Revenue Code to replace the current tax credit for first-time homebuyers with a one-time credit for 10% of the purchase price of a principal residence, up to $15,000. Requires the repayment of such credit if the taxpayer sells or fails to occupy the residence within 24 months after the date of purchase. Rescinds certain discretionary appropriations made available by division A of the American Recovery and Reinvestment Act of 2009 to cover the cost of this Act.