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After a unanimous vote in the Senate, and a 403-12 vote in the House, President Obama signed a bill that will extend and expand the Homebuyers Tax Credit into 2010. The bill went into effect immediately after the President signed it.
The legislation extends the First-Time Homebuyers' Tax Credit of $8,000 through April 30, 2010.
It also includes an expansion of the credit to current homeowners, who have consecutively maintained their home as their primary residence for five of the last eight years. The "move up" portion of the legislation provides a $6,500 tax credit to the current homeowners who are purchasing a new primary residence. It also has an April 30, 2010 deadline.
For more information on the new Homebuyers Tax Credit, check on the links below.
