Historic Homeownership Assistance Act

Summary

Historic Homeownership Assistance Act - Amends the Internal Revenue Code to allow a tax credit for 20 percent of the qualified rehabilitation expenditures made by a taxpayer with respect to a qualified historic home which has been substantially rehabilitated and which is owned by the taxpayer and used as his or her principal residence. Allows the credit for such expenditures to be taken by a purchaser of the rehabilitated home. Permits, in lieu of the credit, a historic rehabilitation mortgage credit certificate, which may be transferred to a lender in exchange for a reduction in the rate of interest on the loan secured by the building.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 18 March 1999

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 18 March 1999

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• Introduced in Senate

  summary · EN · 18 March 1999

  Open at official source

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