This change in the law is good news for sellers as well. How helpless one must feel watching the weeks roll by with a "For Sale" sign in the front yard. As an infusion of first-time homebuyers enters the market, the probability of selling a home greatly increases. As existing homeowners sell their homes, they almost always purchase again.

Other industries also reap the benefits of the new legislation. Companies that sell furniture, home-improvement goods, banks, title companies, realtors and others will see increased sales. As consumers increase purchases, tax revenue grows to benefit the entire community by adding public projects or lowering tax rates.

Here's the catch: The window of opportunity is short for first-time homebuyers. To qualify for the credit, they must occupy their new homes before July 1, 2009. The sooner we educate and encourage our family members, friends, and neighbors to take advantage of this new tax credit, the more Utah families will benefit.

Let's not hesitate to lift ourselves by lifting others and take advantage of this opportunity to grow the Utah economy.

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Chris Redgrave is chairwoman of the Salt Lake Chamber Board of Governors.