Tax credits for home-buying approved

The House easily passed legislation Thursday that will give people tax credits for buying homes this year in hopes of eating up some of the inventory of houses.

The legislation, which passed 162-4, will give people up to $3,600 worth of income tax credits for buying homes in the six months after the bill is signed into law if passed by the General Assembly.

“This is an incentive for people to get off the dime” and buy homes, said Rep. Virgil Fludd (D-Tyrone).

Rep. Ron Stephens (R-Savannah), the bill’s sponsor said, “Our problem in this state is the phenomenal inventory of homes. We’re not going to kick-start this economy until we get rid of this inventory.”

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