H.R. 1913 — Rural Housing Tax Credit Act of 2003

Summary

Rural Housing Tax Credit Act of 2003 - Amends the Internal Revenue Code to allow a credit (the lesser of ten percent of the purchase price or $5,000) for the purchase of a principal residence by a first-time rural homebuyer. Establishes credit limitations based upon: (1) adjusted gross income; and (2) tax.

Provides for credit recapture in the event of: (1) certain sales; or (2) failure to use as a principal residence.

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Legislative Actions

2003-05-01
Introduced in House
2003-05-01
Introduced in House
2003-05-01
Referred to the House Committee on Ways and Means.

Rural Housing Tax Credit Act of 2003

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Summary

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