News

House and Senate negotiators appear to have resolved a major revenue-raiser for the tax extender legislation (HR 4213). It appears that final version of the measure will include the taxation of carried interest, which lawmakers estimate will generate $24.6 billion over 10 years.

The U.S. Senate rejected an amendment to the financial regulatory overhaul legislation that would established a time frame for ending the government’s support of Fannie Mae & Freddie Mac and for ultimately dissolving the two government sponsored entities.

Over the past several days NH&RA has met with several key House and Senate staffers on the tax writing, banking/financial services and appropriations committees to discuss critical legislation impacting affordable housing, historic rehabilitation and New Markets Tax Credit development.

The U.S. Treasury’s Community Development Financial Institutions (CDFI) Fund has announced that it is soliciting comments from the public concerning the CDFI Programs Awardee/Allocatee Annual Reports, which comprise certain reporting requirements for participants in the CDFI Program, the Native American CDFI Assistance (NACA) Program, and the New Markets Tax Credits (NMTC) Program.

U.S. Senators Sherrod Brown (D-OH), Charles Schumer (D-NY), Jeff Merkley (D-OR), Robert Casey (D-PA) and Kay Hagan (D-NC) recently introduced a bill (S.3324) to expand and improve the Advanced Energy Manufacturing Tax Credit (48C) program.

The Association for Neighborhood and Housing Development (ANHD), a nonprofit group that represents middle- and low-income tenant groups, recently published a study, entitled “A Permanent Problem Requires a Permanent Solution: New York City’s Next Affordable Housing Expiring-Use Crisis and the Need for Permanent Affordability.”

The Community Development Financial Institutions (CDFI) Fund has announced that it is in search of application reviewers for the 2010 New Markets Tax Credit Program allocation round.

The recently launched TaxInvestments.com is an online marketplace in the tax credit industry dedicated connecting buyers and sellers of trade-able tax credits. The website allows users to list and search any type of trade-able tax credit by name, address, tax credit amounts, tax credit delivery dates, tax credit types or any combination thereof.

U.S. Department of Housing and Urban Development Secretary Shaun Donovan has named Adolfo Carrión to serve as the Regional Director for New York and New Jersey. Carrión, is currently Deputy Assistant to the President and Director of the White House Office of Urban Affairs.

HUD’s Economic and Market Analysis Division has published two new Comprehensive Housing Market Analysis Reports for the Houston, Texas and Jackson, Mississippi market areas.

HUD’s Office of Policy Development and Research (PD&R) has posted three sets of working papers “” Economic Development and Public Finance, Housing Finance, and Program Monitoring and Research “” on HUD USER’s website. These scientific and technical papers were written by PD&R staff as a means of sharing information, eliciting feedback, and sparking further discussion.

The Montana Housing Division recently made available a draft of its 2011 qualified allocation plan (QAP) for the low-income housing tax credit program.