To amend the Internal Revenue Code of 1986 to allow all individuals, whether or not first-time homebuyers, a refundable income tax credit for the purchase of a residence during 2009 or 2010.


Economic Recovery Through Responsible Homeownership Act of 2009 - Amends the Internal Revenue Code to allow an individual taxpayer a refundable tax credit for the purchase in 2009 or 2010 of a residence located in the United States if the construction of such residence began before 2009. Allows a credit of either $2,000, $5,000, or $10,000 for downpayments of 5, 10, or 15% of the residence's purchase price respectively.

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