H.R. 3590: Service Members Home Ownership Tax Act of 2009 Passes in House!

Hey Peachtree City…The House just passed the bill introduced by Rep. Charles Rangel (D-NY) to extend the $8,000 First-Time Home Buyers credit to Members of the Armed Forces and certain other Federal employees until November 30, 2010.  The Bill passed unanimously and will now go to the Senate where it is also expected to pass with ease. 

The Bill also amends the Internal Revenue Code and exempts those service personnel from having to pay back the credit should they be deployed for extended duty service.