TITLE

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

AUTHOR(S)
Vadum, Matthew
PUB. DATE
June 2003
SOURCE
Bond Buyer;6/4/2003, Vol. 344 Issue 31649, p5
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
10014737

 

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