• Extends the $8,000 first-time Homebuyers Tax Credit and creates a $6,500 tax credit for qualifying "move-up buyers" purchasing a house before April 30, 2010.

• Qualifying "move-up" buyers include those who already own a home that they have used as a principal residence for five years or more.

• Home buyers with binding contracts as of April 30 will also qualify for the credit so long as they complete the transaction within 60 days.

• Available to home buyers with incomes of as much as $125,000 for a single return or $225,000 for a joint return.

• Available for homes that cost less than $800,000.

• To combat fraud, purchaser must attach documentation of purchase to tax return.

Source: National Association of Realtors, U.S. Senate