A bill to amend the Internal Revenue Code of 1954 to provide a credit against tax for interest on home mortgages in cases where State or local authorities elect not to use mortgage subsidy bonds.
First Time Homebuyer Assistance Act of 1983 - Amends the Internal Revenue Code to allow an income tax credit to first time homebuyers for interest on home mortgages in specified circumstances where State or local governments elect to participate in a mortgage credit program rather than issue mortgage subsidy bonds.
Sets forth requirements for a State or local government to participate in such a mortgage credit program.
Became Public Law No: 98-369.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
See H.R.4170.
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