I
110th CONGRESS
1st Session
H. R. 3629
IN THE HOUSE OF REPRESENTATIVES
September 20, 2007
Mr. Space introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to extend for 4 years the election to include combat pay as earned income for purposes of the earned income credit and the use of qualified mortgage bonds to finance residences for veterans without regard to first-time homebuyer requirement.
Short title
This Act may be cited as the
Providing Tax Fairness for Service
Members and Veterans Act of 2007
.
4-year extension of election to include combat pay as earned income for purposes of earned income credit
In general
Subclause (II) of section 32(c)(2)(B)(vi) of the Internal
Revenue Code of 1986 is amended by striking January 1, 2008
and
inserting January 1, 2012
.
Effective date
The amendment made by this section shall apply to taxable years ending after December 31, 2007.
4-year extension of use of qualified mortgage bonds to finance residences for veterans without regard to first-time homebuyer requirement
In general
Subparagraph (D) of
section 143(d)(2) of the Internal Revenue Code of 1986 is amended by striking
January 1, 2008
and inserting January 1,
2012
.
Effective date
The amendment made by this section shall apply to bonds issued after December 31, 2007.