[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3590 Placed on Calendar Senate (PCS)]
Calendar No. 175
111th CONGRESS
1st Session
H. R. 3590
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
October 8, 2009
Received and read the first time
October 13, 2009
Read the second time and placed on the calendar
_______________________________________________________________________
AN ACT
To amend the Internal Revenue Code of 1986 to modify the first-time
homebuyers credit in the case of members of the Armed Forces and
certain other Federal employees, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Service Members Home Ownership Tax
Act of 2009''.
SEC. 2. WAIVER OF RECAPTURE OF FIRST-TIME HOMEBUYER CREDIT FOR
INDIVIDUALS ON QUALIFIED OFFICIAL EXTENDED DUTY.
(a) In General.--Paragraph (4) of section 36(f) of the Internal
Revenue Code of 1986 is amended by adding at the end the following new
subparagraph:
``(E) Special rule for members of the armed forces,
etc.--
``(i) In general.--In the case of the
disposition of a principal residence by an
individual (or a cessation referred to in
paragraph (2)) after December 31, 2008, in
connection with Government orders received by
such individual, or such individual's spouse,
for qualified official extended duty service--
``(I) paragraph (2) and subsection
(d)(2) shall not apply to such
disposition (or cessation), and
``(II) if such residence was
acquired before January 1, 2009,
paragraph (1) shall not apply to the
taxable year in which such disposition
(or cessation) occurs or any subsequent
taxable year.
``(ii) Qualified official extended duty
service.--For purposes of this section, the
term `qualified official extended duty service'
means service on qualified official extended
duty as--
``(I) a member of the uniformed
services,
``(II) a member of the Foreign
Service of the United States, or
``(III) as an employee of the
intelligence community.
``(iii) Definitions.--Any term used in this
subparagraph which is also used in paragraph
(9) of section 121(d) shall have the same
meaning as when used in such paragraph.''.
(b) Effective Date.--The amendment made by this section shall apply
to dispositions and cessations after December 31, 2008.
SEC. 3. EXTENSION OF FIRST-TIME HOMEBUYER CREDIT FOR INDIVIDUALS ON
QUALIFIED OFFICIAL EXTENDED DUTY OUTSIDE THE UNITED
STATES.
(a) In General.--Subsection (h) of section 36 of the Internal
Revenue Code of 1986 is amended--
(1) by striking ``This section'' and inserting the
following:
``(1) In general.--This section'', and
(2) by adding at the end the following:
``(2) Special rules for individuals on qualified official
extended duty outside the united states.--In the case of any
individual who serves on qualified official extended duty
service outside the United States for at least 90 days in
calendar year 2009 and, if married, such individual's spouse--
``(A) paragraph (1) shall be applied by
substituting `December 1, 2010' for `December 1, 2009',
``(B) subsection (f)(4)(D) shall be applied by
substituting `December 1, 2010' for `December 1, 2009',
and
``(C) in lieu of subsection (g), in the case of a
purchase of a principal residence after December 31,
2009, and before July 1, 2010, the taxpayer may elect
to treat such purchase as made on December 31, 2009,
for purposes of this section (other than subsections
(c) and (f)(4)(D)).''.
(b) Coordination With First-Time Homebuyer Credit for District of
Columbia.--Paragraph (4) of section 1400C(e) of such Code is amended by
inserting ``(December 1, 2010, in the case of a purchase subject to
section 36(h)(2))'' after ``December 1, 2009''.
(c) Effective Date.--The amendments made by this section shall
apply to residences purchased after November 30, 2009.
SEC. 4. EXCLUSION FROM GROSS INCOME OF QUALIFIED MILITARY BASE
REALIGNMENT AND CLOSURE FRINGE.
(a) In General.--Subsection (n) of section 132 of the Internal
Revenue Code of 1986 is amended--
(1) in subparagraph (1) by striking ``this subsection) to
offset the adverse effects on housing values as a result of a
military base realignment or closure'' and inserting ``the
American Recovery and Reinvestment Tax Act of 2009)'', and
(2) in subparagraph (2) by striking ``clause (1) of''.
(b) Effective Date.--The amendments made by this act shall apply to
payments made after February 17, 2009.
SEC. 5. INCREASE IN PENALTY FOR FAILURE TO FILE A PARTNERSHIP OR S
CORPORATION RETURN.
(a) In General.--Sections 6698(b)(1) and 6699(b)(1) of the Internal
Revenue Code of 1986 are each amended by striking ``$89'' and inserting
``$110''.
(b) Effective Date.--The amendments made by this section shall
apply to returns for taxable years beginning after December 31, 2009.
SEC. 6. TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES.
The percentage under paragraph (1) of section 202(b) of the
Corporate Estimated Tax Shift Act of 2009 in effect on the date of the
enactment of this Act is increased by 0.5 percentage points.
Passed the House of Representatives October 8, 2009.
Attest:
LORRAINE C. MILLER,
Clerk.
Calendar No. 175
111th CONGRESS
1st Session
H. R. 3590
_______________________________________________________________________
AN ACT
To amend the Internal Revenue Code of 1986 to modify the first-time
homebuyers credit in the case of members of the Armed Forces and
certain other Federal employees, and for other purposes.
_______________________________________________________________________
October 13, 2009
Read the second time and placed on the calendar