Washington, D.C. – October 8, 2009 – (RealEstateRama) — U.S. Rep. Lincoln Davis today supported the House of Representatives effort to make first-time homebuyer tax credits more flexible for members of our Armed Forces. The Service Members Home Ownership Tax Act of 2009 passed the House by a vote of 416-0.“It’s an honor for me to provide assistance to those who wear the uniform of our nation’s Armed Forces,” Rep. Davis said. “Our service members, who can be deployed or assigned for a lengthy period of time, deserve this enhanced housing benefit.”
The bill 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.
The bill now awaits Senate action.
