From the San Jose Mercury News:
SACRAMENTO, Calif.—Gov. Arnold Schwarzenegger on Thursday signed a bill aimed at selling California’s vacant homes and encouraging new construction by extending a $10,000 state tax credit for first-time homebuyers.The governor signed a bill the state Legislature passed on a bipartisan vote earlier this week. It provides a state tax credit to first-time homebuyers who buy new or existing homes from May 1 until the end of 2010.
Homebuyers can claim 5 percent of the purchase price against their California taxes, or up to $10,000. Link to articel…