Posted by: RAPV | June 28, 2010

The Latest in Legislative News

NAR is working very closely with Congress, and Senior Congressional Staff on two issues of critical importance: an extension of the June 30, 2010 deadline for closing contracts eligible for the Homeowner Tax Credit, and  a reinstatement of the National Flood Insurance Program.

Here are the latest details on the Tax Credit Closing Deadline:

  • NAR is advising that the best advice is to proceed as if the June 30, 2010 date is binding.  NAR is pursuing all possible options with senior congressional staff to determine what other legislation may be available for passing a June 30 extension.  Each of the possible options face obstacles, but NAR’s efforts to clear the way are on going.  The Senate did NOT have any votes (Friday, June 25).  This will push the Tax Credit Extension deadline to this week.  Should Congress extend the date, information will be posted on www.realtor.org/government_affairs as soon as it happens, and we will post it on our blog www.pvrealtor.wordpress.com, and distribute an email blast.  The final outcome will be posted on www.realtor.org/government_affairs on July 1, 2010.

Here are the latest details on the national Flood Insurance Program:

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