“The linchpin of the legislation is the tax credit of up to $10,000 for the first time home buyers and those purchasing newlly built homes.  It would take effect May 1, 2010. ” LA Times, March 23, 2010

“Lawmakers are setting aside $200 million to pay for it.  Buyers can receive 5% of a home purchase up to $10,000, as long as they reside there for two years.LA Times, March 23, 2010. TAX BREAKS+Up to $10,000 credit for first-time home buyers or those purchasing a newly built home.  LA Times, March 23, 2010.