GOVERNMENT AFFAIRS UPDATE - The United States House of Representatives, by a vote of 430-12, joined the Senate in passing the Unemployment Insurance Bill, which contains the Homebuyer Tax Credit extension and expansion. The bill now goes to the President for his signature, possibly today. We've prepared two guides on the changes to the legislation to use when questions from your members arise. 

 
— Changes to the Homebuyer Tax Credit Law
— FAQ About the New Tax Credit Law

Message from the REALTOR^® Action Center:

Dear REALTORS^®,

You did it. You’ve succeeded in achieving a huge victory for real estate. Congress heard you on the need to both extend and expand the homebuyer tax credit to continue stimulating the housing sector of the economy. The Senate voted 98-0 on Wednesday and yesterday the House voted 403-12 on legislation that includes the extension and expansion of the credit. The President is expected to sign the legislation, perhaps as early as today.

Thank you for making this victory happen. Your letters in response to our Call for Action made a very big difference, as did the thousands of REALTOR^® phone calls, visits by Federal Political Coordinators—all members of NAR—in getting this legislation passed. This is a great victory for the economy, for homebuyers, and for all of you in real estate.  You made your case to Congress. We deeply appreciate your commitment and involvement on this issue and trust your continued support will follow in the weeks ahead on all our future Calls for Action.

More information on the tax credit and what it means to you:

 Changes to the Homebuyer Tax Credit Law
 Frequently Asked Questions About the New Bill
 Listen to NAR President Charles McMillan's Podcast About the Bill Passing
 See How the House Voted
 In Depth: 2009 First-Time Homebuyer Tax Credit 
 Watch the Entries in the Tax Credit REALTOR^® Party Video Contest
 

Original Call to Action