Senators Seek $6,000 Credit for First-Time Homebuyers

Vadum, Matthew
June 2003
Bond Buyer;6/4/2003, Vol. 344 Issue 31649, p5
Trade Publication
This article reports that a proposed 6,000 dollar tax credit that first-time homebuyers could apply both to closing costs and to the down payment on a home could have an impact on the municipal bond market if it becomes law in the United States. The proposed tax credit could be used to purchase a home that was financed using bond proceeds. Language creating the tax credit is included in the proposed First Time Homebuyers' Tax Credit Act, which senator Debbie Stabenow, and Gordon Smith introduced in the Senate on June 3, 2003. Both lawmakers focused instead on benefits that the legislation would bring to first-time homebuyers.


Related Articles

  • New tax credit law to give housing market a much-needed boost.  // Caribbean Business;5/22/2008, Vol. 36 Issue 20, pS18 

    The article reports on Puerto Rico's Tax Credit Law for New Home Purchase which offers a tax credit of a 20% for the purchase of a newly built home if home buyers decide to use it as their main residence. This law, which was signed on December 15, 2007, covers the limit of existing homes...

  • California Tax Credit Spikes Sales. Lurz, Bill // Housing Giants;4/1/2009, Vol. 5 Issue 7, p4 

    The article reports that home sales in California went up because of the state's $10,000 income tax credit for the purchase of a new home. The program, drafted by California Building Industry Association and passed as part of a California Legislature budget compromise, has been allocated $100...

  • Nebraska Rep. proposes tax credit on home purchases.  // North Western Financial Review;6/1/2008, Vol. 193 Issue 11, p18 

    The article reports that Nebraska's Second Congressional District Representative Terry Lee has proposed a legislation that aims to provide tax credit on house purchases of up to $10,000 to anyone who wants to buy a house from July to December 2008. It states that the U.S. Congress is planning to...

  • First-time home buyers tax credit extended, expanded.  // Inside Tucson Business;11/9/2009, Vol. 19 Issue 23, p4 

    The article reports on the extension and expansion of the tax credit for first-time home buyers in the U.S. It states that first-time home buyer tax credit worth 8,000 dollars, which helped home sales to recover in 2009, was set to expire November 30, 2009. It indicates that the new bill extends...

  • NORTHEAST Bond-Watch. Vadum, Matthew; McKaig, Ryan; Higginbotham, Stacey // Bond Buyer;01/08/2001, Vol. 335 Issue 31052, p33 

    Focuses on developments related to municipal bonds in Northeastern States, current as of January 8, 2001. Washington D.C. Mayor Anthony Williams' signing of legislation that offers tax credits for high-technology companies to locate and stay in the District of Columbia; Standard & Poor's Inc.'s...

  • Roth Proposes Immediate Hike in Volume Cap, Credit. Ferris, Craig T. // Bond Buyer;09/20/2000, Vol. 333 Issue 30979, p4 

    Reports that United State Senate Finance Committee Chairman Bill Roth has included full, immediate, and indexed increases in both the private-activity bond volume cap and the low-income housing tax credit in his draft of legislation to aid distressed communities. Effectivity date of Roth's...

  • Make the Most of Home Buyer Tax Credits. Brighenti, William // CPA Journal;May2010, Vol. 80 Issue 5, p12 

    The article focuses on the U.S. Worker, Homeownership and Business Assistance Act of 2009 which provides tax benefits to first-time home buyers as well as move-up, repeat home buyers. Under the new home buyer tax credit, existing homeowners who bought a principal residence between November 6,...

  • Bill aims to stomp fraud in homebuyer tax credit. RUTH, JOÃO-PIERRE // njbiz;11/2/2009, Vol. 22 Issue 44, p10 

    The article reports that U.S. Representative. Bill Pascrell Jr. (D-Paterson) is co-sponsoring the Homebuyer Tax Credit Improvement Act (HR 3901), that prevents fraud in the federal first-time homebuyer tax credit program. The bill, introduced October19, 2009 by U.S. Representative John Lewis...

  • Congress extends homebuyers' tax credit.  // Hudson Valley Business Journal;11/16/2009, Vol. 19 Issue 45, p8 

    The article reports on the benefits of Emergency Unemployment Compensation Extension Act in the U.S. It states that the Congress has passed a legislation to induce the economy and offer stability to the families in the country affected by the recession, the tax credit of homebuyers and military...


Read the Article


Sign out of this library

Other Topics