Tax Credit Closing Deadline Extension Passes House

TO: State and Local GADs
FROM: NAR Government Affairs
RE: Tax Credit Update
DATE: 29 June 2010 3:59 PM Eastern

The United States House of Representatives has just passed HR 5623, the
Homebuyer Assistance and Improvement Act of 2010, by a vote of 409-5. This
bill extends the deadline for closing tax credit eligible transactions from
June 30 to September, 30, 2010. The bill moves to the Senate where the
outcome is much less certain. NAR will continue to update you as the events
move forward.

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