Federal / Agency News


GAO Releases New Report on NMTC Program

The U.S. Government Accountability Office (GAO) released a new report in late January on the New Markets Tax Credit Program entitled, “Credit Helps Fund a Variety of Projects in Low-Income Communities, but Could Be Simplified.” In the report, GAO describes where and how community development entities (CDE) are using NMTCs to finance development in low-income communities and describes options for simplifying the NMTC program.


Senate Jobs Bill Would Extend LIHTC Exchange and NMTC

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.


2009 NH&RA Recordings: Mix-and-Match Offer

You can now purchase individual audio recordings of select panel sessions offered throughout 2009. Mix and match sessions from any 2009 event on one convenient CD-ROM!


House Bill Supports Renewable Energy Investment

U.S. Representative Earl Blumenauer (D-OR) recently introduced the Renewable Energy Expansion Act (H.R. 4599), a bill that would allow taxpayers to receive a tax credit that functions as a direct payment for investing in or producing renewable energy.


HUD Announces NOFA and Request For Comments Sustainable Communities Planning Grant

HUD has issued a notice announcing its intention to offer funding through a competition made available as a Notice of Funding Availability (NOFA) under its Sustainable Communities Planning Grant Program (Program). HUD is also seeking comments on the Program through this Advance Notice. The goal of the Program is to support multi-jurisdictional regional planning efforts that integrate housing, economic development, and transportation decision-making in a manner that empowers jurisdictions to consider the interdependent challenges of economic growth, social equity and environmental impact simultaneously.


NH&RA In Winter Wonderland!

Snowed in? Washington, DC got over two feet of snow last weekend and we are looking at as much as another 10 inches of snow tomorrow – so much for living in the South! But just because we can’t dig our cars out doesn’t mean you can’t plan your trip for an upcoming NH&RA event in a much WARMER climate!


IRS Releases PLRs On NMTC Program

In a recent alert, the accounting firm Novogradac & Company has summarized two important IRS Private Letter Rulings impacting the New Markets Tax Credit Ruling.


CEFAH Achieves Legislative Success

NH&RA’s Council for Energy Friendly Affordable Housing is pleased to report that a new Senate bill (S. 2897) has been introduced by Senator Michael Bennet (D-CO) that would create significant financial incentives for owners of federally-assisted housing projects to improve their properties’ energy efficiencies and reduce energy costs.


HUD Extends Guideline, Issues Requirements for HOPE VI Main Street Grants

The U.S. Department of Housing and Urban Development has extended the application deadline for $4 million available under the HOPE VI Main Street Grants program until March 3, as well as provides statutory and regulatory requirements, threshold requirements, and rating factors applicable to funding of grant applications.


Legislative Update: 1602/Exchange, NMTC & GO Zone Rehab Provisions Pass House Of Representatives

The House of Representatives has passed tax extenders legislation (HR 4213) on a vote of 241-181. The measure now awaits consideration in the U.S. Senate. Key provisions include…


Louisiana HOPE VI Project to Utilize Historic Tax Credits

The Hurricane Damaged Historic Bastrop High project in Bastrop, Louisiana will completely renovate the old Bastrop High School building as part of a HOPE VI Main Street Grant.


Tax Court Ruling Has Major Implications For Historic Tax Credit

A recent tax court ruling finds that state historic tax credit investors are partners and that transactions between investors and the partnership are not disguised sales.

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