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bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      House Committee on Ways and Means
    IntroducedMay 6th, 2010

Bill Details

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Title

Homeowner Tax Assistance Act

Official Title

To amend the Internal Revenue Code of 1986 to provide an additional 25 percent allowance for the deduction of qualified residence interest with respect to a principal residence, and to waive recapture of the first-time homebuyer tax credit with respect to residences purchased during 2008.

Summary

Homeowner Tax Assistance Act - Amends the Internal Revenue Code to: (1) increase by 25% the allowable tax deduction for mortgage interest on a principal residence until 2014; and (2) waive the requirement to repay credit amounts under the first-time homebuyer tax credit for residences purchased on or after April 9, 2008.