[quote=IONEGARM]I believe what is says is that people who get the benefit can elect to use it for a rebate on 2008 taxes.
But I think the eligibility for the program is the date of passage of the bill forward for 1 year.[/quote]
Section 25E (b) (1) explicitly says that the credit shall be allowed with respect to purchases made after December 31, 2008, and before January 1, 2010.
Interestingly, current amendment makes the previous $7,500 tax credit expire “on the day of the enactment of the American Recovery and Reinvestment Tax Act of 2009.” It seems to me that anyone who buys a house between January 1, 2009, and the day the “American Recovery and Reinvestment Tax Act of 2009” is signed into law (probably mid-February), will be entitled to get BOTH the $7,500 refundable credit and the $15,000 non-refundable credit.
