The 2009 Session of the Georgia General Assembly ended on Friday, April 3, 2009. House Bill 261, which authorizes an income tax credit for a limited period of time for the purchase of any single-family residence, passed both the house and the senate and has now been sent to the Governor for his consideration. As originally passed, House Bill 261 provided for a tax credit of up to $3,600. Unfortunately, due to budget concerns expressed by the Governor's office, the bill was amended to reduce the income tax credit to a maximum of $1,800 over three years.The hard work and support of many legislators, to include Senator Chip Pearson, Representative Larry O'Neal and Representative Ron Stephens were instrumental in securing passage of this important legislation.
Homebuyers need an incentive to BUY NOW. The recovery of the housing market in Georgia is critical for all Georgians. It is critical that we let the Governor know how important House Bill 261 is to the homebuilding industry and Georgia.
Use the link below to contact the Governor's office and ask him to sign House Bill 261!
Labels: 261, hb 261, house bill, tax credit
