Congress

United States Senate Committee on Finance has scheduled a hearing on December 2, entitled “Tax Reform: Historical Trends in Income and Revenue.”

A bipartisan group of 26 senators yesterday sent a letter to Senate Majority Leader Harry Reid, Minority Leader Mitch McConnell, Finance Committee Chairman Max Baucus and Finance Committee Ranking Member Charles Grassley urging a two-year extension of the Section 1603 Payments for Specified Energy Property in Lieu of Tax Credits Program during the lame-duck session.

President Barack Obama will nominate North Carolina Banking Commissioner Joseph A. Smith Jr. to be the new director of the Federal Housing Finance Agency (FHFA).

The Congressional Budget Office has released its cost estimate for the Public Housing Reinvestment and Tenant Protection Act of 2010 (H.R. 5814).

On Monday, September 27, President Obama signed the Small Business Jobs Act of 2010 into law. The legislation passed the House by a 237 to 187 vote; the Senate version of the bill was passed the previous week.

The National Housing & Rehabilitation Association’s Legislative Leadership Council convened for the first time on September 28, in Washington DC and met with Assistant Secretary for Public & Indian Housing Sandra Henriquez, DAS for Public Housing Investment Dominque Blom and DAS for Multifamily Housing Carol Galante.

NH&RA is pleased to offer the PowerPoint slide presentations for sessions exhibited during the 2010 Fall Developers Forum, October 18 & 19 in Boston, Mass.

The National Housing & Rehabilitation Association and its sub-council, the National Council of Affordable Housing Market Analysts (NCAHMA) each hosted highly successful conferences in October to close NH&RA’s 2010 meeting schedule.

Congressman Keith Ellison (D-Minn.) has released a draft of his revised PETRA bill.

Senate Finance Committee Chairman Max Baucus today introduced a new version of tax extenders legislation (HR 4213). The Job Creation and Tax Cut Act of 2010 includes following provisions from H.R. 4213, the American Jobs and Closing Tax Loopholes Act (also known as the tax extenders bill), including:

Tax Credit Advisor ““ November 2010 ““ For the new markets tax credit (NMTC) industry, all eyes are on Washington, wondering whether or when Congress will enact legislation to reauthorize the program, which lapsed on December 31, 2009.

Tax Credit Advisor ““ October 2010 ““ The President’s Economic Recovery Advisory Board has released a report outlining various tax reform options that mentions the low-income housing tax credit but doesn’t make any recommendation about what should be done about it.