To amend the Internal Revenue Code of 1986 to allow the installment method to be used to report income from the sale of certain residential real property, and for other purposes.
First-Time Homebuyers Assistance Act - Amends the Internal Revenue Code to set forth the conditions under which builders will be allowed to compute on the installment sales method income from the sale of newly constructed one-family residential real property.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Sponsor introductory remarks on measure. (CR E545-546)
Committee Hearings Held.
Committee Hearings Held.
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