First-Time Homebuyer Tax Credit Act of 1999

Summary

First-Time Homebuyer Tax Credit Act of 1999 - Amends the Internal Revenue Code to allow a first-time homebuyer who purchases a principal residence a tax credit of ten percent of the purchase price of such residence. Limits the credit to $5,000. Requires married individuals filing jointly to both be first-time homebuyers. Allows the use of 50 percent of the credit in the first taxable year in which the residence is purchased and the remaining 50 percent in the succeeding taxable year. Makes this credit applicable to residences acquired on or after January 1, 1999, and before January 1, 2000, or for which a binding contract is entered into during such period.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 6 January 1999

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 6 January 1999

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 6 January 1999

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.