effects of domain extension on SERP

[Open_Your_Eyes]

I just finished designing a new website and am now shopping around for a domain name. Obviously the ideal domain names are already taken though. So I am considering a less common domain extension like .cc or .biz or .info A long time ago I thought I read something about search engines giving less value to such domain names. This might've been one of the many search engine rumors though. Is this a false rumor? Or does someone have experience with the domain extension having an effect on SERP?

[cbp]

Domain extension has no effect.

CBP