Providing for consideration of the Senate amendments to the bill (H.R. 3590) to amend the Internal Revenue Code of 1986 to modify the first-time homebuyers credit in the case of members of the Armed Forces and certain other Federal employees, and for other purposes, and providing for consideration of the bill (H.R. 4872) to provide for reconciliation pursuant to section 202 of the concurrent resolution on the budget for fiscal year 2010.

Bill 111 H.Res. 1203 is a legislative proposal that addresses two main issues. The first part of the bill focuses on amending the Internal Revenue Code of 1986 to modify the first-time homebuyers credit for members of the Armed Forces and certain other Federal employees. This amendment aims to provide additional support and benefits for these individuals when purchasing their first home.

The second part of the bill pertains to providing reconciliation pursuant to section 202 of the concurrent resolution on the budget for fiscal year 2010. This reconciliation process involves making adjustments to the budget in order to align it with the goals and priorities outlined in the budget resolution for the fiscal year.

Overall, Bill 111 H.Res. 1203 seeks to address specific issues related to tax benefits for first-time homebuyers who are members of the Armed Forces and certain Federal employees, as well as ensuring that the budget for fiscal year 2010 is reconciled in accordance with the established goals and priorities.