Stimulus Bill Provides Wide Range of Housing Provisions

Tax and financial analysts at NAHB have sifted through the massive economic stimulus package enacted on Feb. 17 in search of provisions that will help association members improve their businesses and rally from the most difficult housing downturn since the 1930s.

Of the many housing-related provisions in the legislation, the most heavily publicized has been the tax credit of up to $8,000 available to first-time home buyers who close on or after Jan. 1, 2009 and before Dec. 1 this year. NAHB has assembled resources to help builders disseminate information on the credit to prospective home buyers.

However, there is a wide range of provisions in the bill that may be helpful to the housing industry, and NAHB has compiled a list of them along with the potential benefits they provide. To read a summary of these provisions, click here.

The specifics on these items are limited at this time, and NAHB will distribute more details as they become available from the various federal agencies that will be implementing them.