What is this we're hearing about a $15000 first time home buyer tax credit?
Bill S. 1230, which was introduced by Senator Johny Isakson (R-GA) and nine cosponsors, might extend the time for being able to bnefit from the first time home buyers tax credit. Not only could an extension be granted, the total amount could go all the way up to $15,000 and anyone that is a home buyer would be eligible to claim the credit.
The bill would be availabe upon the date of enactment up to one year thereafter. That means whenever the new "First Time Homebuyer Tax Credit" is enacted, it'll be available to anyone who purchases a home within 12 months. Although it really wouldn't be considered a First Time Home Buyer Tax Credit any longer, since it would be available to all home purchasers. It would be the same concept.
I don't know how this bill would really affect the economy in the big scope of things but I know that if this bill were enacted there would be a lot of activity in the housing market. This $15,000 home credit bill has not been considered yet as both houses are working on health reform right now. However, this $15,000 credit could become a reality in the next few months.
For more information contact Vanna Siackhasone 907-720-4663
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