Bill
HR 4717
Overview: HR 4717 - First-Time Homebuyer Tax Credit Act of 2025Purpose and Intent: The bill aims to provide a tax credit to first-time homebuyers to help make homeownership more ac
Overview: HR 4717 - First-Time Homebuyer Tax Credit Act of 2025
Purpose and Intent: The bill aims to provide a tax credit to first-time homebuyers to help make homeownership more accessible and affordable.
Key Provisions:
- Establishes a refundable tax credit of up to $15,000 for qualified first-time homebuyers
- Eligibility is limited to individuals or couples who have not owned a home in the previous 3 years
- The credit phases out for single filers with incomes above $100,000 and joint filers above $150,000
- The credit can be claimed in the year the home is purchased
Affected Parties and Impacts:
- First-time homebuyers meeting the income and ownership requirements would be eligible for the tax credit
- The bill is intended to increase homeownership rates and provide financial assistance to those entering the housing market
Procedural and Timeline Considerations:
- The bill was introduced in the House and has been referred to the Committee on Ways and Means
- If passed, the tax credit would be available for home purchases starting in the 2026 tax year
Compiled from official sources — confirm details with the bill’s official record.
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