Tax credit extension passes House

Extending the deadline for closing federal Homebuyer’s Tax Credit eligible transactions is one step closer to reality although it still needs to pass the Senate.

On Tuesday, the U.S. House of Representatives passed HR 5623, the Homebuyer Assistance and Improvement Act of 2010, by a vote of 409-5, according to John DiBiase, NAR’s government affairs communications director.

The bill extends the deadline for closing tax credit eligible transactions from June 30 to September 30, 2010. The bill now moves to the Senate where the outcome is much less certain.

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Tags: homebuyer tax credit

This entry was posted on Tuesday, June 29th, 2010 at 5:15 pm and is filed under Government Affairs, Industry News. You can follow any responses to this entry through the RSS 2.0 feed.