TAX INCENTIVES FOR INVESTMENT IN THE DISTRICT OF COLUMBIA.

SEC. 322. TAX INCENTIVES FOR INVESTMENT IN THE DISTRICT OF COLUMBIA.(a) Designation of Zone.—(1) In general.—Subsection (f) of section 1400 is amended by striking “2007” both places it appears and inserting “2009”.(2) Effective date.—The amendments made by this subsection shall apply to periods beginning after December 31, 2007.(b) Tax-Exempt Economic Development Bonds.—122 STAT. 3874(1) In general.—Subsection (b) of section 1400A is amended by striking “2007” and inserting “2009”.(2) Effective date.—The amendment made by this subsection shall apply to bonds issued after December 31, 2007.(c) Zero Percent Capital Gains Rate.—(1) In general.—Subsection (b) of section 1400B is amended by striking “2008” each place it appears and inserting “2010”.(2) Conforming amendments.—(A) Section 1400B(e)(2) is amended—(i) by striking “2012” and inserting “2014”, and(ii) by striking “2012” in the heading thereof and inserting “2014”.(B) Section 1400B(g)(2) is amended by striking “2012” and inserting “2014”.(C) Section 1400F(d) is amended by striking “2012” and inserting “2014”.(3) Effective dates.—(A) Extension.—The amendments made by paragraph (1) shall apply to acquisitions after December 31, 2007.(B) Conforming amendments.—The amendments made by paragraph (2) shall take effect on the date of the enactment of this Act.(d) First-Time Homebuyer Credit.—(1) In general.—Subsection (i) of section 1400C is amended by striking “2008” and inserting “2010”.(2) Effective date.—The amendment made by this subsection shall apply to property purchased after December 31, 2007.