The California Building Industry Association, a trade group, said on
Wednesday legislation has been introduced that would triple the amount
of funding for the state's $10,000 tax credit on new home purchases.
The bill would increase the amount of money designated for the
credit, which applies to newly constructed and previously unoccupied
homes, to $300 million from $100 million. The group said it expects the
original funding would otherwise run out by early summer.