General News

HUD has released a new discussion draft of Major Features of the 2011 Budget Proposal on Transforming Rental Assistance (TRA). TRA is a proposed multi-year initiative to preserve public and assisted housing by converting properties to a new project-based subsidy structure that includes a tenant mobility component.

Efforts are currently underway to incorporate several tax credit provisions into the Senate small business jobs bill. Timing is uncertain; however, reports indicate that the legislation could be considered in the next two weeks.

The IRS has announced its 2010 inflation adjustment factors for Section 45 Renewable Electricity Production credits and other energy related tax credits.

The U.S. Department of the Treasury has released a new report showing that the Build America Bonds program has resulted in significant savings in borrowing costs for state and local governments.

The Florida House of Representatives introduced legislation that would alter the state’s New Markets Development Program. The measure, House Bill 1229, passed both the Transportation & Economic Development Appropriations Committee and the Economic Development Policy Committee.

A recent article by the Brookings Institution entitled A Demographic Lull for U.S. Migration at Census Time explores the slowdown in interstate migration in United States The areas that have been hit hardest are the Sun Belt cities that saw significant mid-decade population growth.

The U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund has announced that it is undertaking a holistic review of its authorizing statute and has scheduled a series of “listening sessions” to generate discussion and interest among CDFI stakeholders.

The U.S. Department of Housing and Urban Development’s (HUD) Office of Policy Development and Research has released a comprehensive housing market analysis report for the Oklahoma City market region.

Minnesota Governor Tim Pawlenty early this month signed into law the Minnesota Jobs Stimulus Bill (House File 2695

The U.S. Department of the Treasury has announced the opening of the 2010 competitive round for tax credits under the New Markets Tax Credit (NMTC) Program.

Earlier this month, U.S. Senator Blanche Lincoln (D-AR) sent a letter to Senate Majority Leader Harry Reid and Speaker of the House of Representatives Nancy Pelosi urging them to complete Senate-House negotiations of H.R. 4213, the American Workers, State, and Business Relief Act of 2010, also referred to as the tax credit extenders package.

California state lawmakers recently passed legislation (S.B. 401) to conform state tax law to federal changes made since 2005.