“Through empowering service members with an easier transition to civilian life, we strengthen our Western New York economy and community,” said Congressman Higgins. “With this legislation, Congress maintains its commitment to service members and their families by providing them with home ownership opportunities that they deserve.”
The Service Members Homeownership Tax Act expands the tax credit provisions in the Recovery Act in order to accommodate for lifestyle conditions of service members. In particular, it ensures tax exempt status for homes that have declined in value under the Defense Housing Assistance Program. Further, the legislation protects service members from having to repay the first-time home buyer credit in the event that they are ordered to deploy to a different location and sell their home within three years of purchase. Lastly, The bill extends the deadline for taking advantage of the first-time homebuyer credit another year to December 1, 2010 for qualifying service members stationed overseas so that they may take advantage of the credit upon return home.
H.R. 3590 is supported by the American Legion, Veterans of Foreign Wars, Military Officers Association of America, National Military Family Association, American Foreign Service Association, National Association of Home Builders, and National Association of Realtors.
In the recent months, Congressman Higgins and his colleagues in the House of Representatives have approved a series of bills to improve the quality of care and benefits. Legislation that passed the House includes:
- July 29, 2009- Veterans Business Center Act to support disabled veterans’ living conditions and entrepreneurial opportunities
- July 10, 2009- H.R. 3082- Military Construction- Veterans Affairs Appropriations which includes funding for veterans health programs
- June 24, 2009-
- H.R. 1016- Veterans Health Care Budget Reform & Transparency Act which authorizes advance appropriations for the VA Department medical care programs with up to a year of planning
- H.R. 1211- Women Veterans Health Care Improvement Act
- S. 407- The Veterans Cost of Living Adjustment which ensures that veterans and their dependents receive sufficient funds and benefits
- H.R. 1172- A directive for the Department of Veterans Affairs to list organizations that provide scholarships to veterans and their survivors
- June 16, 2009- H.R. 403, Homes for Heroes Act of 2009, a bill which will expand the supply of housing and support services to low-income veterans
- March 30, 2009- H.R. 1171- Homeless Veterans Reintegration Programs Act to support our nation’s veterans by aiding their transition to civilian life, expanding their healthcare benefits, and increasing their disability compensation
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