Federal / Agency News

HUD

NH&RA’s Green Agenda Incorporated Into Recovery Act

NH&RA’s Council for Energy Friendly Affordable Housing is pleased to report that several key provisions from its ‘green’ legislative agenda have been incorporated in HR1: The American Recovery and Reinvestment Act of 2009. This includes substantial funding dedicated to retrofitting HUD assisted multifamily projects.

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TCA October 2008 Issue Theme: Historic Rehabilitation

Tax Credit Advisor
October 2008
Issue Theme: Historic Rehabilitation

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House of Representatives Passes Economic Stimulus Bill; No New LIHTC Amendments

The US House of Representatives has passed HR 1, its $819 billion economic stimulus bill on a vote of 244-188. The House adopted several amendments prior to passing the measure that clarify how funds dedicated to transportation can be spent and strengthening whistleblower protections. The US Senate is scheduled to consider its measure, which is considerably different, in the next few days.

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NH&RA’s New Markets Tax Credit Committee Urges Congress to Include NMTCs in Stimulus Compromise

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.

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Stimulus Compromise Announced; LIHTC Exchange Proposal & Gap Financing Part of Package

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…

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Stimulus Bill: Summary of Appropriations Provisions; Several Housing & HUD Related Provisions

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:

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HR 1: The American Recovery & Reinvestment Act (“The Stimulus Bill”)

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

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Senate Passes Stimulus Measure; Side-By-Side Comparison of Tax and Housing Provisions

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…

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New Markets Tax Credits Included In Stimulus Compromise

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.

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Senate Stimulus Compromise Includes LIHTC, NMTC, CEFAH and Other Housing Provisions; Passes Key Procedural Vote

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).

HUD

HUD Updates Form to Encourage Use of Energy-Efficient Products

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.

HUD

HUD Final Rule Extends Maximum Term of Energy Performance Contracts

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.

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