Hot off the presses. Gov. Schwarzenegger just signed this new bill into law. Go ahead and spread the word to anyone you know who could benefit from up to a $10,000 Tax Credit on their California State Taxes.
The credit is for up to $10,000 and is for both new AND existing homes. The California credit takes over May 1st, right after the Federal Credit expires on April 30th.
It's similar to the state credit from last year, but the budget has been doubled to $200 Million. Last year's budget of $100 Million was used up 8 months before its expiration, so buyers should act quickly before the entire $200 Million is gone.
Additional details will be available on the State of California Franchise Tax Board site by 5pm on Tuesday, March 30th, so be sure to check back for more info.
http://www.ftb.ca.gov/individuals/New_Home_Credit.shtml
