S. 1728 (111th): Service Members Home Ownership Tax Act of 2009

Introduced:
Sep 30, 2009 (111th Congress, 2009–2010)
Sponsor:
Sen. Claire McCaskill [D-MO]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on September 30, 2009, in a previous session of Congress, but was not enacted.

Progress
Introduced Sep 30, 2009
Referred to Committee Sep 30, 2009
Cosponsors
5 cosponsors (4D, 1R) (show)
Committees

Senate Finance

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to amend the Internal Revenue Code of 1986 to modify the first-time homebuyer credit in the case of members of the Armed Forces and certain other Federal employees, and for other purposes.

Summary

No summaries available.

Text

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Last updated Sep 30, 2009.
6 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

9/30/2009--Introduced.
Service Members Home Ownership Tax Act of 2009 - Amends the Internal Revenue Code to:
(1) exempt members of the uniformed services, the Foreign Service, and employees of the intelligence community on official extended duty service from the recapture requirements of the first-time homebuyer tax credit;
(2) extend the first-time homebuyer tax credit through November 30, 2010, for individuals serving on official extended duty service outside the United States for at least 90 days in 2009;
(3) exclude from gross income payments to military personnel to compensate for declines in housing values due to a base closure or realignment; and
(4) increase penalties for failure to file a partnership or S corporation tax return.
Amends the Corporate Estimated Tax Shift Act of 2009 to increase corporate estimated tax payments in the third quarter of 2014 by an additional 0.5%.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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