Congress
U.S. Senate Subcommittee to Hold Hearing on Choice Neighborhoods Program
The U.S. Senate Committee on Banking Housing and Urban Affairs Subcommittee on Housing, Transportation, and Community Development will hold a hearing on the Choice Neighborhoods Initiative entitled “The Choice Neighborhoods Initiative: A New Community Development Model” on Tuesday, March 27, 2012.
House Financial Services Committee Holds Markup on FY13 Budget Document; Republicans Express Negative Views About HUD and Many Housing Programs
On March 6, 2012, the House Financial Services Committee held a markup on its Views and Estimates of President Obama’s fiscal year 2013 budget.
Senators Introduce Bill to Extend Renewable Energy Tax Credits
Senator Chuck Grassley (R-IA), along with a bi-partisan group of U.S. Senators, introduced the American Energy and Job Promotion Act (S. 2201) which would amend the Internal Revenue Code of 1986 to extend the wind energy production tax credit (PTC) for two years.
Senate Rejects NMTC and Renewable Energy Amendments to Transportation Bill
On March 13, the United States Senate voted on several remaining amendments to the Moving Ahead for Progress in the 21st Century, or the MAP-21 Act (S. 1813).
Bill Would Expand Access to Affordable Housing Funds
Congressman Joe Baca (D-Rialto) introduced legislation in the House of Representatives that would give non-profit agencies and Community Development Corporations (CDCs) access to funds for affordable housing projects made available through the State Small Business Credit Initiative.
Senate Votes on Amendment that Includes One Year NMTC Extension
The United States Senate adopted an amendment by unanimous consent to the Moving Ahead for Progress in the 21st Century Act or MAP-21 Act (S. 1813) that would provide a one year extension to the New Markets Tax Credit (NMTC) program.
FHFA Releases Strategic Plan for Fannie and Freddie Conservatorships
The Acting Director of the Federal Housing Finance Agency (FHFA), Edward J. DeMarco, recently sent a memo to members of Congress outlining a strategic plan for the next phase of the conservatorships for the Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac.
Letter Urges Support of Fixed 9% Tax Credit
Reps. Patrick Tiberi (R-OH) and Richard Neal (D-MA) recently sent a letter to members of Congress urging their support of H.R. 3661. H.R. 3661 would make permanent the fixed floor rate for 9% low-income housing tax credits that was enacted as part of the Housing and Economic Recovery Act.
PowerPoints, Materials from Annual Meeting Now Available
NH&RA is pleased to offer the PowerPoint Presentations from our recent 2011 Annual Meeting & New Markets Tax Credit Symposium, which was held February 22-26 at the Breakers Resort in Palm Beach, Fla. In addition, we have included additional conference materials, relevant articles, reports, memos, etc. under the relevant session titles.
Congress Approves Payroll Tax Cut Extension Agreement
On February 17, the House of Representatives and the Senate both passed H.R. 3630, which will provide an extension of the payroll tax holiday, unemployment benefits and restored Medicare reimbursement rate provisions. Noticeably absent from the deal is an extension to the New Markets Tax Credit tax provisions, which expired in December 2011.
Administration Tax Reform Plan Calls for Making Energy Credit Permanent
U.S. Treasury Secretary Timothy Geithner on February 22 released the Obama Administration’s framework for corporate tax reform. Among other things, it calls for making the renewable energy production tax credit permanent and refundable.
Study Finds Very Low Recapture Rate for Historic Tax Credit
A new report released by the National Trust for Historic Preservation has found a very low rate of recapture of federal historic rehabilitation tax credits claimed over the past 10 years in historic rehab transactions.