Kilroy Supports Measure to Extend Tax Credit for Military Homebuyers

WASHINGTON, DC - October 13, 2009 - (RealEstateRama) — U.S. Rep. Mary Jo Kilroy voted to amend the home-buying provisions in the American Recovery and Reinvestment Act to benefit active-duty service members and other federal employees. The Service Members Home Ownership Tax Act (H.R. 3590), which passed on October 8th by a unanimous vote of 416-0, would extend the $8,000 first-time homebuyer credit deadline by one year to individuals who served outside the U.S. for at least 90 days in 2009. The credit is currently scheduled to expire on November 30, 2009.

“We owe the men and women who protect our country overseas the same opportunities that we share here at home. This credit has helped thousands of Ohioans to purchase their own home,” said Kilroy. “I was proud to support The Service Members Home Ownership Tax Act which will give those who have been stationed or deployed overseas more time to take advantage of the program, while also helping our economy get back on track.”

The Service Members Home Ownership Tax Act would also ensure that service members will not be forced to repay the first-time homebuyer credit if they are called for overseas duty and forced to sell their home within three years of purchasing it. The Legislation is supported by the American Legion, Veterans of Foreign Wars, Military Officers Association of America, National Military Family Association, American Foreign Service Association, National Association of Home Builders, and National Association of Realtors.

 

 

 

 

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