FORGIVE REPAYMENT OF ALL OUTSTANDING 2008 FIRST-TIME HOME BUYER TAX CREDITS.

DUE TO DIFFERENCES BETWEEN THE 2008 AND 2009 VERSIONS OF THE FIRST TIME HOME BUYERS TAX CREDIT, NAMELY THE 2008 VERSION IS A LOAN THAT HAS TO BE REPAID WHILE THE 2009 VERSION IS A TRUE CREDIT THAT DOES NOT REQUIRE REPAYMENT, IT IS PROPOSED THAT THE REMAINING REPAYMENTS OF THE 2008 VERSION BE FORGIVEN AND ANY PAST PAYMENTS BE REFUNDED TO THE TAXPAYERS.