The House of Representatives has unanimously voted to extend the deadline for utilizing the $8000 first-time homebuyer credit for qualifying service members for one year. The bill now awaits the Senate to act on it.
The bill also waives repayment requirements for military families, intelligence agents, and Foreign Service officers who take advantage of first-time homebuyer tax credits, passed in the Recovery Act, but are required to sell their homes or move due to orders. The legislation also gives those serving outside the United States for at least 90 days in 2009 an additional year, through November 30, 2010, to take advantage of the tax credit.