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Service Members Home Ownership Tax Act of 2009

The house passed legislation last week extending and clarifying the First Time Buyer Credit for those in the military.  The Service Members Home Ownership Tax Act of 2009 allows service members who are deployed overseas and therefore do not maintain their tax credit-eligible home as their primary residence for three years to keep the credit.  It also extends the date of required purchase for a year for those that were overseas in 2009.

Oregon Representative Earl Blumenauer was key a figure introducing the bill to Congress.

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