A bill to amend section 44 of the Internal Revenue Code of 1954 (relating to credit for purchase of new principal residence) to provide that the lowest offering price requirement be limited to offers after December 31, 1974, and to expedite the prescribing of final regulations relating to such section 44.
Home Purchase Tax Rebate Amendments - Provides that the lowest offering price requirement for eligibility by the purchaser for the 5 percent (up to $2,000) tax rebate for purchase of a new principal residence under the Internal Revenue Code be limited to offers after December 31, 1974.
Sets time limits during which regulations for such eligibility must be propounded.
Introduced in Senate
Referred to Senate Committee on Finance.
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