Congress

Today (Friday, May 28) the U.S. House of Representatives passed H.R. 4213, the American Jobs and Closing Tax Loopholes Act (Tax Extenders Legislation). The legislation contains several provisions of note for affordable housing and tax credit developers…

NH&RA is pleased to offer a CD-ROM containing digital audio recordings of select panel sessions from the Spring Forum.

The U.S. House Ways and Means Committee last week released additional documents related to the American Jobs and Closing Tax Loopholes Act (H.R. 4213), better known as the tax extenders bill.

Last week, the National Housing & Rehabilitation Association welcomed over 120 industry professionals to Washington, DC for its 2010 Spring Affordable Housing Policy Forum. The highly praised program explored the critical nexus between today’s changing public policy environment and affordable housing development, as well as combined NH&RA’s traditional transaction-oriented sessions with valuable social networking opportunities.

Earlier this week, U.S. Housing and Urban Development Secretary Shaun Donovan testified before the U.S. House Committee on Financial Services on the Preservation, Enhancement and Transformation of Rental Assistance Act (TRA), an initiative proposed in the FY-2011 budget to streamline HUD’s rental assistance programs and revitalize the existing stock of public and assisted housing.

Last week, the National Housing & Rehabilitation Association welcomed over 120 industry professionals to Washington, DC for its 2010 Spring Affordable Housing Policy Forum. The highly praised program explored the critical nexus between today’s changing public policy environment and affordable housing development, as well as combined NH&RA’s traditional transaction-oriented sessions with valuable social networking opportunities.

The legislative text the American Jobs and Closing Tax Loopholes Act (H.R. 4213) was released last week by the U.S. House of Representatives as an amended version of an earlier version of the bill, in response to the companion legislation, passed by the Senate on March 10.

The House Financial Services Committee passed energy efficiency legislation based on proposals developed by NH&RA and its Council for Energy Friendly Affordable Housing.

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.

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.