Posted on 11/27/2009 4:41:06 PM PST by darrellmaurina
WASHINGTON, D.C. (Sept. 17, 2009) — Today, Congressman Ike Skelton (D-Mo.) joined Congressman Charles B. Rangel (D-N.Y.), chairman of the House Ways and Means Committee, Congressman Walter B. Jones, Jr. (R-N.C.), and 26 other members of the House of Representatives in introducing H.R. 3590, the “Service Members Home Ownership Tax Act of 2009.” This deficit-neutral legislation would amend the federal tax code to ensure military personnel can take full advantage of the first-time homebuyer tax credit. Current law requires first-time homebuyers who utilize the $8,000 tax credit created by the Recovery Act to repay the credit if they move from their principal residence within three years of closing. Skelton said that because many military personnel, foreign service personnel, and intelligence officers are required by federal orders to redeploy overseas within a three-year period, it is important for Congress to write an exclusion for them into federal law.
(Excerpt) Read more at pulaskicountydaily.com ...
There already is an exemption for this.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.