HR 3739 · 102th Congress · Taxation

To amend the Internal Revenue Code of 1986 to allow a credit for the purchase of a principal residence by a first-time homebuyer.

Introduced 1991-11-07· Sponsored by Rep. Johnson, Nancy L. [R-CT-6]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(1991-11-07)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow a tax credit for a first-time homebuyer who purchases a principal residence of five percent of the purchase price of such residence. Limits such credit to $2,000. Limits the homebuyer's income to $50,000 ($100,000 in the case of a joint return).…

Summarized by Claude AI · Non-partisan · For informational purposes only