S.Amdt. 1578

SA 1578. Ms. KLOBUCHAR submitted an amendment intended to be proposed by her to the bill S. 1390, to authorize appropriations for fiscal year 2010 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes; which was ordered to lie on the table; as follows:

On page 201, after line 25, insert the following:

SEC. 652. EXTENSION OF FIRST-TIME HOMEBUYER INCOME TAX CREDIT FOR MEMBERS OF THE ARMED FORCES DEPLOYED AWAY FROM THEIR PERMANENT DUTY STATIONS.

(a) In General.--Subsection (g) of section 36 of the Internal Revenue Code of 1986 is amended--

(1) by inserting “(1) In general.--” before “In the case of”, and

(2) by adding at the end the following new paragraph:

“(2) Deployed Members of the Armed Forces.--

“(A) Exception.--In the case of a purchase of a principal residence on or after December 1, 2009, and before the applicable extension date by a member of the Armed Forces who is deployed away from such member's permanent duty station on any day after June 30, 2009, and before December 1, 2009, such member may elect to treat such purchase as made on November 30, 2009, for purposes of this section (other than subsection (c)).

“(B) Applicable extension date.--For purposes of this paragraph, the term ‘applicable extension date' means, with respect to any member of the Armed Forces described in subparagraph (A), the earlier of--

“(i) the date that is the same number of days after November 30, 2009, as the number of days such member was deployed away from such member's permanent duty station after June 30, 2009, and before December 1, 2009, or

“(ii) May 1, 2010.”.

(b) Effective Date.--The amendments made by this section shall apply to residences purchased after November 30, 2009.