Senators Max Baucus (D-Mont.) and Charles Grassley (R-Neb.), Chairman and Ranking Member of the Senate Finance Committee have released a draft Jobs Bill. The $85 billion “˜”˜Hiring Incentives to Restore Employment Act” has not been assigned a bill number yet. The legislation has several provisions impacting NH&RA members including the following:
- One year extension of the Section 1602/Exchange Program for LIHTCs
- One year extension of the New Markets Tax Credit
- One year extension of the boosted historic tax credit in the Gulf Opportunity Zone
- Codification of Economic Substance Doctrine
Additional analysis will be provided on our website shortly.
