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Lawmakers approve tax incentive plan for home buyers

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Posted: Jun 16, 2010 2:45 PM by Brian Waldrep
Updated: Jun 16, 2010 3:01 PM
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Topics: Lawmakers, Approve, Tax, Incentive, Plan, Homebuyers

The Senate has given the green light to a plan, giving home buyers an extra three months to finish qualifying for federal tax incentives that boosted home sales this spring.

The move would give buyers until September 30 to complete their purchases and qualify for tax credits of up to $8,000.

The proposal would only allow people who already have signed contracts to finish at the later date.

About 180,000 home buyers who already signed purchase agreements would otherwise miss the deadline.

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