Federal / Agency News

NH&RA’s New Markets Tax Credit Council sent a letter to key congressional leaders urging them to support the New Markets Tax Credit Provisions in the Senate Version of HR: 1The The American Recovery and Reinvestment Act of 2009. The letter addresses expanding NMTC Authority in 2008 and 2009, Alternative Minimum Tax Relief and the carry back of business tax credits.

At press time the Economic Recovery Act was still in conference committee and specific text was not available; however, Congressional leadership has indicated that House a compromise has been agreed upon that will cost about $789 billion. Reports of housing provisions include…

The conference committee has released a summary of appropriations provisions in HR 1: The American Recovery and Reinvestment Act. The measure provides $311 billion in appropriations. Highlights include:

Please see the following summary of key provisions from the conference report of HR 1: The American Recovery and Reinvestment Act.

The United State Senate has approved HR1: The American Recovery and Reinvestment Act of 2009 on a vote of 61-37. The Congressional Budget Office reports that the current version of the measure would cost $838 billion over ten years. Only three Republicans voted in favor of the measure. The package now heads to a House-Senate conference to resolve differences between the two versions. A compromise measure is expected towards the end of the week. A summary of the key housing and tax credit related provisions include…

NH&RA New Markets Tax Credit Council is pleased to report that our sources indicate that that House & Senate Conferees have agreed to New Markets Tax Credit provisions from the Senate version of HR1: The American Recovery and Reinvestment Act of 2009.

Over the weekend Senate Democrats and several moderate Republicans negotiated a compromise version of HR1: The American Recovery and Reinvestment Act of 2009 that appears to be poised to pass the United States Senate on Tuesday. A key procedural vote to end debate on the measure passed the Senate on a 61-36 vote Monday evening (February 9).

The U.S. Department of Housing and Urban Development (HUD) has updated HUD Form 9250 (Reserve Fund for Replacement Authorizations) with new language that requires owners/agents of HUD projects to indicate whether the requested withdrawal of replacement reserve funds will be used to replace appliances and/or major components with energy efficient products/systems.

The U.S. Department of Housing and Urban Development (HUD) on January 26 published a final rule that amends the public housing operating fund regulations to reflect recent statutory changes regarding energy performance contracts for public housing properties.

The Arizona Department of Housing has released a notice that summarizes proposed changes to the July 2008 IRS ruling that amends utility allowance regulations for the low-income housing tax credit (LIHTC) program.

The NH&RA Affordable Housing Developers Conference and Annual Meeting is the premier event for affordable housing and tax credit professionals. This year we are meeting March 11-15 at the Ocean Reef Club in Key Largo, Florida. Drawing a regional and national audience””this year’s program promises to be one of the compelling yet…

The U.S. Department of Housing and Urban Development (HUD) recently announced a new streamlined process for providing funding through its various grant programs.