TAX INCENTIVES FOR INVESTMENT IN THE DISTRICT OF COLUMBIA.

SEC. 754. TAX INCENTIVES FOR INVESTMENT IN THE DISTRICT OF COLUMBIA.(a) In General.—Subsection (f) of section 1400 is amended by striking “December 31, 2009” each place it appears and inserting “December 31, 2011”.(b) Tax-exempt DC Empowerment Zone Bonds.—Subsection (b) of section 1400A is amended by striking “December 31, 2009” and inserting “December 31, 2011”.(c) Zero-percent Capital Gains Rate.—(1) Acquisition date.—Paragraphs (2)(A)(i), (3)(A), (4)(A)(i), and (4)(B)(i)(I) of section 1400B(b) are each amended by striking “January 1, 2010” and inserting “January 1, 2012”.(2) Limitation on period of gains.—124 STAT. 3322(A) In general.—Paragraph (2) of section 1400B(e) is amended—(i) by striking “December 31, 2014” and inserting “December 31, 2016”; and(ii) by striking “2014” in the heading and inserting “2016”.(B) Partnerships and s-corps.—Paragraph (2) of section 1400B(g) is amended by striking “December 31, 2014” and inserting “December 31, 2016”.(d) First-time Homebuyer Credit.—Subsection (i) of section 1400C is amended by striking “January 1, 2010” and inserting “January 1, 2012”.(e) Effective Dates.—(1) In general.—Except as otherwise provided in this subsection, the amendments made by this section shall apply to periods after December 31, 2009.(2) Tax-exempt dc empowerment zone bonds.—The amendment made by subsection (b) shall apply to bonds issued after December 31, 2009.(3) Acquisition dates for zero-percent capital gains rate.—The amendments made by subsection (c) shall apply to property acquired or substantially improved after December 31, 2009.(4) Homebuyer credit.—The amendment made by subsection (d) shall apply to homes purchased after December 31, 2009.