Federal / Agency News

House Ways and Means Committee Chairman Rep. Sander Levin (D-Mich.) recently released the draft legislative text of the Domestic Manufacturing and Energy Jobs Act of 2010.

Congresswoman Betty McCollum (D-Minn.) and Sens. Al Franken (D-Minn.) and Kit Bond (R-Mo.) recently introduced the Thermal Renewable Energy and Efficiency Act of 2010 (H.R. 5805), which would create a renewable thermal energy production tax credit by expanding the existing production tax credit (PTC) and expand the use of tax exempt bonds.

Last week, Senators Amy Klobuchar (D-MN) and Tim Johnson (D-SD) introduced new legislation, the Securing America’s Future with Energy and Sustainable Technologies (SAFEST) Act.

Last week, the Senate passed the Frank-Dodd Wall Street Reform and Consumer Protection Act (H.R. 4173) by a 60-30 vote. The bill is expected to be signed by President Obama this week.

Senator Mary Landrieu (D-La.) recently proposed a package of tax incentives designed to create jobs and provide much needed relief to small businesses and communities along the Gulf Coast in the wake of the oil spill.

Last week the US House of Representatives passed the H.R. 4173, Wall Street Reform and Consumer Protection Act of 2009. Historic Tax Credit advocates achieved a major victory in last minute amendment that removed provision that would have seriously compromised a bank’s ability to invest in historic tax credits.

U.S. Senator Maria Cantwell (D-Wash) last week proposed an amendment to the pending tax extenders bill (H.R. 4213) that would extend Section 1603 renewable energy tax credit cash grant program through the end of 2012.

Alaska Governor Sean Parnell signed two bills last week that establish a statewide energy policy (S.B. 220) to stimulate the state’s economy by attracting renewable energy investment.

The U.S. Departments of Transportation (DOT) and Housing and Urban Development (HUD) have announced that they will join forces to award up to $75 million in funding ““ $35 million in TIGER (Transportation Investment Generating Economic Recovery) II Planning Grants and $40 million in Sustainable Community Challenge Grants for localized planning activities that ultimately lead to projects that integrate transportation, housing and economic development.

Louisiana Housing Finance Agency has issued an RFP Special Tax Counsel for the Agency’s Low Income Housing Tax Credit Program.

U.S. Senator Maria Cantwell (D-Wash.) recently introduced legislation (S. 3326, bill text not available at press time) that would extend for one-year the Section 1602 low-income housing tax credit (LIHTC) cash grant exchange program and expand the program to include 4 percent LITHCs. The “Job Creation and Affordable Housing Act” would also allow a 5-year carryback of the LIHTC.

Today (Friday, May 28) the U.S. House of Representatives passed H.R. 4213, the American Jobs and Closing Tax Loopholes Act (Tax Extenders Legislation). The legislation contains several provisions of note for affordable housing and tax credit developers…