$24B law extends jobless benefits

By Staff and wire services

POSTED: 01:30 a.m. HST, Nov 07, 2009

WASHINGTON » President Barack Obama signed a $24 billion economic stimulus bill into law yesterday that provides another 14 weeks of benefits to all out-of-work people who have exhausted their benefits. In Hawaii, unemployed individuals currently are eligible for 20 weeks of Tier I benefits after exhausting 26 weeks of regular benefits. An extra 13 weeks of Tier II benefits are payable if the individual exhausts all Tier I benefits before Dec. 31.

The bill also extended the $8,000 first-time homebuyers' credit through June as long as the buyer signs a contract by the end of April. The program also includes a $6,500 credit for existing homeowners who buy a new place after living in their current residence for at least five years.