123STA T . 2 9 9 0PUBLIC LA W 111 – 92 —NOV . 6, 2009 ap p liedbysu bs t ituti ng‘$6,50 0 ’for ‘$ 8 ,000’ and ‘$ 3 , 2 50’ for ‘$ 4 ,000’ . ’’. ( 2 )INCOMELI MI TA TION. —S ubse c tion (b)(2)( A )(i)(II) of sec - tion 36 of suc hC odeisa m ended by stri k ing ‘‘$ 7 5,000 ($ 1 50,000’’ and inserting ‘‘$125,000 ($225,000’’. (d) L IMITATION ON PUR C H A S E PRICE O FR ESI D ENCE.—Subsection (b) of section 36 of the Internal Re v enue Code of 1 9 86 is amended by adding at the end the follo w ing new paragraph
‘‘(3) LIMITATION B ASED ON P URCHASE PRICE.— N o credit shall be allowed under subsection (a) for the purchase of any resi- dence if the purchase price of such residence e x ceeds $800,000.’’. (e) W AI V ER OF RECAPTURE OF F IRST-TIME H OMEBU Y ER CREDIT FOR INDIVIDUALS ON Q UALIFIED O FFICIAL EX TENDED D UTY.—Para- graph (4) of section 36(f) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph: ‘‘(E) SPECIAL RULE FOR MEMBERS OF THE ARMED FORCES, ETC.— ‘‘(i) IN G ENERAL.—In the case of the disposition of a principal residence by an individual (or a cessation referred to in paragraph (2)) after December 31, 2008, in connection with G overnment orders received by such individual, or such individual’s spouse, for q ualified official extended duty service— ‘‘(I) paragraph (2) and subsection (d)(2) shall not apply to such disposition (or cessation), and ‘‘(II) if such residence was acquired before J anuary 1, 2009, paragraph (1) shall not apply to the taxable year in which such disposition (or cessation) occurs or any subsequent taxable year. ‘‘(ii) QUALIFIED OFFICIAL EXTENDED DUTY SERVICE.—For purposes of this section, the term ‘quali- fied official extended duty service’ means service on qualified official extended duty as— ‘‘(I) a member of the uniformed services, ‘‘(II) a member of the Foreign Service of the U nited States, or ‘‘(III) an employee of the intelligence commu- nity. ‘‘(iii) DEFINITIONS.—Any term used in this subparagraph which is also used in paragraph (9) of section 121(d) shall have the same meaning as when used in such paragraph.’’. (f) EXTENSION OF FIRST-TIME HOMEBUYER CREDIT FOR INDIVID- UALS ON QUALIFIED OFFICIAL EXTENDED DUTY OUTSIDE THE UNITED STATES.— (1) IN GENERAL.—Subsection (h) of section 36 of the Internal Revenue Code of 1986, as amended by subsection (a), is amended by adding at the end the following: ‘‘(3) SPECIAL RULE FOR INDIVIDUALS ON Q UALIFIED OFFICIAL EXTENDED DUTY OUTSIDE THE UNITED STATES.—In the case of any individual who serves on qualified official extended duty service (as defined in section 121(d)(9)(C)(i)) outside the United States for at least 90 days during the period beginning after December 31, 2008, and ending before M ay 1, 2010, and, if married, such individual’s spouse— ‘‘(A) paragraphs (1) and (2) shall each be applied by substituting ‘May 1, 2011’ for ‘May 1, 2010’, and Timep e r i od.A pp l i cab ili ty . 26USC3 6.
