The North Carolina Home Builders Association today announced the introduction of House Bill 485, “New Home Purchase Stimulus.”  This legislation would create a $10,000 tax credit for new homes built in North Carolina after July 1, 2011.  Dr. Michael Walden of NC State University calculates that 16,199 new jobs will be created as a result of the tax credit.

This legislation would apply to all new homes where the building permit is pulled and the contract is signed after July 1, 2011.  The bill is effective until July 1, 2012.

For more information on this legislation, click http://www.ncleg.net/Sessions/2011/Bills/House/PDF/H485v0.pdf or contact the North Carolina Home Builders Association at 676-9090.