Federal / Agency News

The United State’s Senate has issued a substitute amendment for HR 4213, “American Jobs and Closing Tax Loopholes Act of 2010.”Â The Senate is currently scheduled to debate HR 4213 this week. Most of the housing related provisions from the House version remain unchanged, with the exception of a change to the taxation of carried interest provisions. Major features of the amendment include…

National Housing & Rehabilitation Association is pleased to announce that it has released all PowerPoint slide presentations from the 2010 Summer Institute & Pre-Conference Symposium on New Markets Tax Credits.

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.