Congress

Senate Majority Leader Harry Reid (D-Nev.) has tax credit extender legislation that would extend a number of expired tax provisions. The legislation comes in the form of a “strike-all” amendment to H. R. 4154 (The American Workers, State, and Business Relief Act of 2010); which passed the House of Representatives on December 3 on a largely party-line vote.

House Ways and Means Committee Chairman Sander M. Levin (D-MI), recently introduced draft legislation that would make tax-exempt bond-financed properties eligible for the Section 1602 low-income housing tax credit (LIHTC) cash grant exchange program, and allow the new markets tax credit (NMTC) to be used to offset the alternative minimum tax (AMT).

National Housing & Rehabilitation (NH&RA) is pleased to offer digital audio recordings of select panel sessions from the 2010 New Markets Tax Credit Symposium (March 10) and the 2010 NH&RA Annual Meeting (March 11-13) in Miami Beach, Florida.

For a limited time only, you can get ANY single conference session recording FREE with your registration for one of NH&RA’s and/or NCAHMA’s upcoming events!

Did you miss the 2010 Affordable Housing Conference & NH&RA Annual Meeting in Miami Beach, March 11-13? Don’t worry! NH&RA has made available digital audio recordings of select sessions from this year’s program!

NH&RA has made available the conference PowerPoint presentations from its 2010 Annual Meeting & NMTC Symposium, held March 10-13 in Miami Beach, Fla.

U.S. Senator Jeff Bingaman (D-NM) recently introduced new legislation aimed at stimulating new affordable housing development by adding incentives to the low-income housing tax credit (LIHTC) program.

U.S. Treasury Secretary Timothy Geithner will present the Obama administration’s broad vision for the future of housing finance, including all private and public entities that support the mortgage market, to the Housing Financial Services Committee on Tuesday, March 23.

Treasury Secretary Tim Geithner announced today the Obama Administration’s intention to improve, extend and enhance the New Markets Tax Credit Program. “Distressed communities and their small businesses have a hard time attracting investments even in the best of times,” said Secretary Geithner. “The New Markets Tax Credit helps these communities attract new investors and ensure they stay invested long enough for businesses to overcome obstacles and grow. That’s why the President expanded the New Markets Tax Credit through the Recovery Act last year and why we’re seeking to reform, extend and broaden the reach of these credits going forward.”

Last week, the House Committee on Financial Services held a hearing on “Community Development Financial Institutions (CDFIs): Their Unique Role and Challenges Serving Lower-Income, Under-served and Minority Communities.”

Treasury Secretary Timothy Geithner has indicated that the White House has no plan to overhaul Fannie Mae and Freddie Mac in 2010.

HUD Secretary Shaun Donovan testified before the House Appropriations Subcommittee on Transportation, Housing and Urban Development, and Related Agencies on February 23, 2010 on President Obama’s proposed budget.

Representatives of the Council for Energy Friendly Affordable Housing (CEFAH), a council within NH&RA, will be meeting with the staff of U.S. Sen. Michael Bennet (D-Colo.) to discuss the senator’s recently introduced energy efficiency legislation and to express support for it.