Public Law 111–5 111th Congress An Act - Loan Programs Office

123 STAT. 316 PUBLIC LAW 111–5—FEB. 17, 2009
26 USC 529.
26 USC 529 note.
SEC. 1005. COMPUTER TECHNOLOGY AND EQUIPMENT ALLOWED AS
A QUALIFIED HIGHER EDUCATION EXPENSE FOR SEC-
TION 529 ACCOUNTS IN 2009 AND 2010.
(a) IN GENERAL.—Section 529(e)(3)(A) is amended by striking
‘‘and’’ at the end of clause (i), by striking the period at the end
of clause (ii), and by adding at the end the following:
‘‘(iii) expenses paid or incurred in 2009 or 2010
for the purchase of any computer technology or equipment
(as defined in section 170(e)(6)(F)(i)) or Internet
access and related services, if such technology, equipment,
or services are to be used by the beneficiary
and the beneficiary’s family during any of the years
the beneficiary is enrolled at an eligible educational
institution.
Clause (iii) shall not include expenses for computer software
designed for sports, games, or hobbies unless the
software is predominantly educational in nature.’’.
(b) EFFECTIVE DATE.—The amendments made by this section
shall apply to expenses paid or incurred after December 31, 2008.
ebenthall on POQ96SHH1 with PUBLAW
Time period.
Applicability.
Time period.
SEC. 1006. EXTENSION OF AND INCREASE IN FIRST-TIME HOMEBUYER
CREDIT; WAIVER OF REQUIREMENT TO REPAY.
(a) EXTENSION.—
(1) IN GENERAL.—Section 36(h) is amended by striking
‘‘July 1, 2009’’ and inserting ‘‘December 1, 2009’’.
(2) CONFORMING AMENDMENT.—Section 36(g) is amended
by striking ‘‘July 1, 2009’’ and inserting ‘‘December 1, 2009’’.
(b) INCREASE.—
(1) IN GENERAL.—Section 36(b) is amended by striking
‘‘$7,500’’ each place it appears and inserting ‘‘$8,000’’.
(2) CONFORMING AMENDMENT.—Section 36(b)(1)(B) is
amended by striking ‘‘$3,750’’ and inserting ‘‘$4,000’’.
(c) WAIVER OF RECAPTURE.—
(1) IN GENERAL.—Paragraph (4) of section 36(f) is amended
by adding at the end the following new subparagraph:
‘‘(D) WAIVER OF RECAPTURE FOR PURCHASES IN 2009.—
In the case of any credit allowed with respect to the purchase
of a principal residence after December 31, 2008,
and before December 1, 2009—
‘‘(i) paragraph (1) shall not apply, and
‘‘(ii) paragraph (2) shall apply only if the disposition
or cessation described in paragraph (2) with
respect to such residence occurs during the 36-month
period beginning on the date of the purchase of such
residence by the taxpayer.’’.
(2) CONFORMING AMENDMENT.—Subsection (g) of section
36 is amended by striking ‘‘subsection (c)’’ and inserting ‘‘subsections
(c) and (f)(4)(D)’’.
(d) COORDINATION WITH FIRST-TIME HOMEBUYER CREDIT FOR
DISTRICT OF COLUMBIA.—
(1) IN GENERAL.—Subsection (e) of section 1400C is
amended by adding at the end the following new paragraph:
‘‘(4) COORDINATION WITH NATIONAL FIRST-TIME HOMEBUYERS
CREDIT.—No credit shall be allowed under this section to any
taxpayer with respect to the purchase of a residence after
December 31, 2008, and before December 1, 2009, if a credit
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