A bill to amend the Internal Revenue Code of 1986 to provide a Federal income tax credit for certain home purchases.
Latest action · Jan 29, 2008 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJan 29, 2008
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Amends the Internal Revenue Code to allow purchasers of a single-family principal residence a one-time tax credit for up to $15,000 of the purchase price. Requires such a residence to be purchased after February 29, 2008, and before March 1, 2009, and that it be: (1) a new previously unoccupied residence for which a building permit has been issued and construction began on or before September 1, 2007; (2) an owner-occupied residence with a mortgage indebtedness in default on or before March 1, 2008; or (3) in foreclosure and owned by the mortgagor or the mortgagor's agent.
Cosponsors 23
Members who signed on, in the order they did. Signatures ran from Jan 29, 2008 to Feb 28, 2008; 4 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-NH | Judd Gregg | Original | Jan 29, 2008 |
| R-ID | Larry E. Craig | Original | Jan 29, 2008 |
| R-GA | Saxby Chambliss | Original | Jan 29, 2008 |
| R-CO | Wayne Allard | Original | Jan 29, 2008 |
| R-LA | David Vitter | Jan 30, 2008 | |
| R-KY | Jim Bunning | Jan 30, 2008 | |
| R-SC | Jim DeMint | Jan 30, 2008 | |
| R-TX | John Cornyn | Jan 30, 2008 | |
| R-TN | Lamar Alexander | Jan 30, 2008 | |
| R-FL | Mel Martinez | Jan 30, 2008 | |
| R-OK | Tom Coburn | Jan 30, 2008 | |
| R-OK | James M. Inhofe | Jan 31, 2008 | |
| R-MN | Norm Coleman | Jan 31, 2008 | |
| R-UT | Orrin G. Hatch | Jan 31, 2008 | |
| R-NM | Pete V. Domenici | Jan 31, 2008 | |
| R-TN | Bob Corker | Feb 5, 2008 | |
| R-NH | John E. Sununu | Feb 5, 2008 | |
| R-AK | Lisa Murkowski | Feb 5, 2008 | |
| R-KS | Pat Roberts | Feb 5, 2008 | |
| D-PA | Arlen Specter | Feb 13, 2008 | |
| D-LA | Mary L. Landrieu | Feb 13, 2008 | |
| R-WY | Michael B. Enzi | Feb 26, 2008 | |
| R-SC | Lindsey Graham | Feb 28, 2008 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Finance Committee | Referred Jan 29, 2008 |
Actions 2
Everything that happened, newest first.
- Jan 29, 2008Introduced in Senate
- Jan 29, 2008Read twice and referred to the Committee on Finance.
In the Congressional Record 3
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Senate | Debate and remarks S1489 | Mitch McConnell R-KY | Mar 4, 2008 |
| Senate | Debate and remarks S700 | Johnny Isakson R-GA | Feb 6, 2008 |
| Senate | Debate and remarks S463, S469 | Johnny Isakson R-GA, Judd Gregg R-NH | Jan 30, 2008 |
Related bills 4
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 12 | HOME Act | Related bill | Mar 3, 2008 |
| HR 5565 | To amend the Internal Revenue Code of 1986 to provide a Federal income tax credit for certain home purchases. | Identical bill | Mar 10, 2008 |
| HR 5670 | To amend the Internal Revenue Code of 1986 to provide a Federal income tax credit for certain home purchases. | Related bill | Apr 1, 2008 |
| HR 5974 | To amend the Internal Revenue Code of 1986 to provide a Federal income tax credit for certain home purchases. | Related bill | May 6, 2008 |
Titles 1
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to amend the Internal Revenue Code of 1986 to provide a Federal income tax credit for certain home purchases.
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Jan 29, 2008Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
