Newly Authorized State Housing Tax Credit Is Up and Running

Just 10 days after it was signed into law by Governor Schwarzenegger, the new state homebuyer tax credit became available to new-home shoppers all over California starting Sunday, March 1. The tax credit is worth as much as $10,000 to purchasers of new homes and is good through March 1, 2010. $100 million is available through the program. California Building Industry Associaton (CBIA) waged a media blitz – including a Thursday press conference – involving dozens of newspapers as well as radio and television stations, resulting in statewide media coverage by more than 25 news outlets including the San Diego Union-Tribune, San Francisco Chronicle, and Los Angeles Times. For more information on the state homebuyer tax credit, visit the Franchise Tax Board website. CBIA has also created a FAQs page, which you can view here.