- Tax credit is increased to $8,000

- Tax credit is 10% of purchase price but no greater than $8,000

- The income limits remain the same: ($75,000 for an individual; $150,000 for a couple)

- FTHB (no ownership in last 3 years) and principal residences only

- Tax credit is available until December 1, 2009 

 - Recapture of tax credit is now waived (no repayment requied) as long as they live in the home for 3 years

- The provision is retroactive to purchases made on or after January 1, 2009

- Waiver of prohibition on financing by mortgage revenue bonds is included

- Married: both have to be FTHB's

- Tax credit will be claimed on federal income tax return