Comments on: CA Tax Credit for New Homes Victim of Budget Cuts http://blog.brookfieldsd.com/ca-tax-credit-for-new-homes-victim-of-budget-cuts/ Just another WordPress weblog Tue, 31 Aug 2010 15:54:25 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Steve http://blog.brookfieldsd.com/ca-tax-credit-for-new-homes-victim-of-budget-cuts/comment-page-1/#comment-389 Steve Wed, 14 Apr 2010 18:59:38 +0000 http://blog.brookfieldsd.com/?p=620#comment-389 Marlena, I understand your frustration. As a builder, I would have greatly appreciated the state continuing the tax credit through the year of 2009. But the legislature did not see it that way. Unlike the Federal Tax Credit which used a date certain for the end of their tax credit, the state of California used a dollar amount. That was the reason for the "first come, first served" basis. I do not believe there is much of a case for a class action lawsuit. I do believe your best approach is to let your feelings be know to your state elected officials. It was their decision and their bills that created the the tax credit plan. Steve Marlena,

I understand your frustration. As a builder, I would have greatly appreciated the state continuing the tax credit through the year of 2009. But the legislature did not see it that way.

Unlike the Federal Tax Credit which used a date certain for the end of their tax credit, the state of California used a dollar amount. That was the reason for the “first come, first served” basis.

I do not believe there is much of a case for a class action lawsuit. I do believe your best approach is to let your feelings be know to your state elected officials. It was their decision and their bills that created the the tax credit plan.

Steve

]]> By: Marlena Rutherford http://blog.brookfieldsd.com/ca-tax-credit-for-new-homes-victim-of-budget-cuts/comment-page-1/#comment-383 Marlena Rutherford Mon, 12 Apr 2010 23:02:45 +0000 http://blog.brookfieldsd.com/?p=620#comment-383 Hi, I just finished my income tax return. I did in fact purchased a new home in CA in Dec. 09. However, I could not apply for the 10,000 tax credit. I just wonder how on earth the law can work on "first come first serve" basis? Now, I find out about the extension of the tax credit....for the 2010-2011. This is simply outrageous. What about all the people that qualified for the tax credit and did not get it? Can we all fill out a class action suit against the state? Hi,
I just finished my income tax return. I did in fact purchased a new home in CA in Dec. 09. However, I could not apply for the 10,000 tax credit. I just wonder how on earth the law can work on “first come first serve” basis? Now, I find out about the extension of the tax credit….for the 2010-2011. This is simply outrageous. What about all the people that qualified for the tax credit and did not get it? Can we all fill out a class action suit against the state?

]]> By: Steve http://blog.brookfieldsd.com/ca-tax-credit-for-new-homes-victim-of-budget-cuts/comment-page-1/#comment-292 Steve Thu, 18 Feb 2010 00:22:12 +0000 http://blog.brookfieldsd.com/?p=620#comment-292 Bluebells, I recently wrote a blog about the California Tax Credit for new home purchasers. You can find it at http://blog.brookfieldsd.com/california-tax-credits-for-new-home-purchases-revisited/ Please check it out for the current details on the new California Tax Credit. Things are moving slowly in Sacramento, but the hope is still strong that the legislature will act in the new term. Steve Bluebells,

I recently wrote a blog about the California Tax Credit for new home purchasers. You can find it at http://blog.brookfieldsd.com/california-tax-credits-for-new-home-purchases-revisited/

Please check it out for the current details on the new California Tax Credit. Things are moving slowly in Sacramento, but the hope is still strong that the legislature will act in the new term.
Steve

]]> By: bluebells http://blog.brookfieldsd.com/ca-tax-credit-for-new-homes-victim-of-budget-cuts/comment-page-1/#comment-291 bluebells Wed, 17 Feb 2010 21:14:16 +0000 http://blog.brookfieldsd.com/?p=620#comment-291 Is there an update on the CA tax credit? We entered into a contract for purchase of a new home on Jan 30th and its is estimated to close by June 30th. Is there an update on the CA tax credit? We entered into a contract for purchase of a new home on Jan 30th and its is estimated to close by June 30th.

]]> By: Steve http://blog.brookfieldsd.com/ca-tax-credit-for-new-homes-victim-of-budget-cuts/comment-page-1/#comment-270 Steve Fri, 22 Jan 2010 17:58:16 +0000 http://blog.brookfieldsd.com/?p=620#comment-270 Paul, I understand your frustration and unfortunately, you are not alone in the disappointment of missing out in the last round of California Tax Credits. While there are no current "draft bills" on the new Tax Credit. I do know that a great many questions about the implementation of the last Tax Credit Bill are being asked and hopefully, will be addressed in this next version. I will bring you more detail as the process moves along. Steve Paul,

I understand your frustration and unfortunately, you are not alone in the disappointment of missing out in the last round of California Tax Credits.

While there are no current “draft bills” on the new Tax Credit. I do know that a great many questions about the implementation of the last Tax Credit Bill are being asked and hopefully, will be addressed in this next version.

I will bring you more detail as the process moves along.

Steve

]]> By: Paul http://blog.brookfieldsd.com/ca-tax-credit-for-new-homes-victim-of-budget-cuts/comment-page-1/#comment-267 Paul Thu, 21 Jan 2010 00:58:26 +0000 http://blog.brookfieldsd.com/?p=620#comment-267 I signed contract to purchase a new condo on March 26, 2009 but it took until June 30th, 2009 to close. My Fax was accepted on July 1st but I was still denied the credit because the money ran out. I hope they revisit this in 2010. I signed contract to purchase a new condo on March 26, 2009 but it took until June 30th, 2009 to close. My Fax was accepted on July 1st but I was still denied the credit because the money ran out. I hope they revisit this in 2010.

]]> By: Steve http://blog.brookfieldsd.com/ca-tax-credit-for-new-homes-victim-of-budget-cuts/comment-page-1/#comment-252 Steve Tue, 01 Dec 2009 00:08:49 +0000 http://blog.brookfieldsd.com/?p=620#comment-252 Sorry Kristin, The extension of the California Tax Credit for 2009 is dead. The Assembly decided not to take the issue up. The CBIA will be looking for opportunities to revisit the Tax Credit issue in the California Legislature in 2010. Steve Sorry Kristin,

The extension of the California Tax Credit for 2009 is dead. The Assembly decided not to take the issue up. The CBIA will be looking for opportunities to revisit the Tax Credit issue in the California Legislature in 2010.

Steve

]]> By: Kristin http://blog.brookfieldsd.com/ca-tax-credit-for-new-homes-victim-of-budget-cuts/comment-page-1/#comment-247 Kristin Tue, 17 Nov 2009 02:19:11 +0000 http://blog.brookfieldsd.com/?p=620#comment-247 Do we know if they are going to be voting on this issue? I am supposed to close on my house the 1st week of December and would really love to get an extra $10,000. Any word on this issue? Do we know if they are going to be voting on this issue? I am supposed to close on my house the 1st week of December and would really love to get an extra $10,000. Any word on this issue?

]]> By: Ingrid Pierson http://blog.brookfieldsd.com/ca-tax-credit-for-new-homes-victim-of-budget-cuts/comment-page-1/#comment-242 Ingrid Pierson Sat, 07 Nov 2009 23:24:20 +0000 http://blog.brookfieldsd.com/?p=620#comment-242 Steve, Thank you for your last update. I was wondering what happened on the Assembly vote. - No vote! Figures. I've been following the CBIA posts.. but if they noted the item I missed that issue. Thank you again for your update.- Ingrid Steve, Thank you for your last update. I was wondering what happened on the Assembly vote. – No vote! Figures. I’ve been following the CBIA posts.. but if they noted the item I missed that issue. Thank you again for your update.- Ingrid

]]> By: Steve http://blog.brookfieldsd.com/ca-tax-credit-for-new-homes-victim-of-budget-cuts/comment-page-1/#comment-239 Steve Thu, 05 Nov 2009 16:44:03 +0000 http://blog.brookfieldsd.com/?p=620#comment-239 Sarah, I am greatly disappointed by our State Legislature, specifically, our state Assembly and it's leadership. You are correct, the State Senate did approve a modification to the original California Tax Credit legislation to allow approximately 4,200 more new-home buyers to apply for the $10,000 Tax Credit. When the legislation was delivered to the Assembly for confirmation, the Speaker of the Assembly refused to allow the item to come for a vote ... because of party politics! Seems that our Democratic Speaker did not like the fact that a Republican Senator had his name on the bill as the author. So, please thank your Democratic Speaker for the Tax Credit bill's failure. She again proved that petty politics are more important to our elected officials than getting the California economy working and more important than getting our California citizens working. I will let you know if there are any changes in this partisan stalemate. Steve Sarah,

I am greatly disappointed by our State Legislature, specifically, our state Assembly and it’s leadership. You are correct, the State Senate did approve a modification to the original California Tax Credit legislation to allow approximately 4,200 more new-home buyers to apply for the $10,000 Tax Credit. When the legislation was delivered to the Assembly for confirmation, the Speaker of the Assembly refused to allow the item to come for a vote … because of party politics! Seems that our Democratic Speaker did not like the fact that a Republican Senator had his name on the bill as the author. So, please thank your Democratic Speaker for the Tax Credit bill’s failure. She again proved that petty politics are more important to our elected officials than getting the California economy working and more important than getting our California citizens working.

I will let you know if there are any changes in this partisan stalemate.

Steve

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