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New laws signed by President Obama
Jul 7, 2010
Posted In: General
FOR IMMEDIATE RELEASE
July 2, 2010
Statement by the Press Secretary on H.R. 5569, H.R. 5611, and H.R. 5623
On Friday, July 2, 2010, the President signed into law:H.R. 5569, the “National Flood Insurance Program Extension Act of 2010,” which retroactively reauthorizes the Federal Emergency Management Agency (FEMA) to enter into new contracts for flood insurance under the National Flood Insurance Program through September 30, 2010; and reduces FEMA's authority to borrow under the Program by $50 million to up to $20.725 billion.
H.R. 5611, the “Airport and Airway Extension Act of 2010, Part II,” which extends through August 1, 2010, authorities to collect taxes that fund the Airport and Airway Trust Fund, make expenditures from the Airport and Airway Trust Fund, and make grants to airports under the Airport Improvement Program.
H.R. 5623, the “Homebuyers Assistance and Improvement Act of 2010,” which extends the date by which purchasers must have closed on a home to be eligible for the homebuyer tax credit. (Extended closing date to loans closed prior to October 1, 2010. Applications must have been received by April 30, 2010.