First Time Home-Buyer Credit Closing Date Extension Amendment Approved by Senate

by Joshua on June 16, 2010

As part of an update on the Senate’s vote on an amended spending bill which includes the first time home-buyer credit closing date extension, the Wall Street Journal has reported that the extension passed in the Senate by an amendment 60-37:

Despite budget concerns, senators later approved an amendment 60-37 that would extend the time individuals have to qualify for a popular tax credit supporting home purchases. The credit is due to expire June 30. Under the amendment, pushed by Senate Majority Leader Harry Reid (D., Nev.), buyers would still have had to enter into purchase contracts by April 30 to qualify for the tax credit. But they would now be given until Sept. 30 to close the purchase.

Update: Senate Approved the Bill on June 30. See Home Sweet Home Tax Credit: Senate Agrees to Extend Closing Deadline to Sept. 30.

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