H.R. 1730 — First-Time Homebuyers Assistance Act

Summary

First-Time Homebuyers Assistance Act - Amends the Internal Revenue Act to permit the installment method to be used to report income from the sale of certain residential real property to a purchaser having no ownership interest in such a property during the prior three-year period. (Exempts such sale from specified dealer disposition provisions.)

Applies certain pledge of installment obligation provisions to such sales.

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Legislative Actions

1999-05-06
Introduced in House
1999-05-06
Introduced in House
1999-05-06
Sponsor introductory remarks on measure. (CR E897)
1999-05-06
Referred to the House Committee on Ways and Means.

First-Time Homebuyers Assistance Act

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Summary

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