The following is an excerpt from February 15, 2009 HUD Press Release
WASHINGTON ““ The U.S. Department of Housing and Urban Development (HUD) today allocated nearly 75 percent of its funding, or $10.1 billion, made available through the American Recovery and Reinvestment Act of 2009. The Recovery Act includes $13.61 billion for projects and programs administered by HUD, 75 percent of which was allocated to recipients today ““ only one week after President Obama signed the Act into law.
Please see the following summary of key provisions from the conference report of HR 1: The American Recovery and Reinvestment Act. The House of Representatives and Senate voted in favor of the measure and President Obama signed the measure into law Tuesday, Feb. 17.
NH&RA has made available individual PowerPoint presentations from the recent 2009 Annual Meeting & NMTC Symposium, March 11-15 in Key Largo, Florida.
The Center on Budget and Policy Priorities has issued a new report, entitled “Decade of Neglect Has Weakened Federal Low-Income Housing Programs: New Resources Required to Meet Growing Needs.”
Tax Credit Advisor
Issue Theme: Historic Rehabilitation
The US House of Representatives has passed HR 1, its $819 billion economic stimulus bill on a vote of 244-188. The House adopted several amendments prior to passing the measure that clarify how funds dedicated to transportation can be spent and strengthening whistleblower protections. The US Senate is scheduled to consider its measure, which is considerably different, in the next few days.
NH&RA’s New Markets Tax Credit Council sent a letter to key congressional leaders urging them to support the New Markets Tax Credit Provisions in the Senate Version of HR: 1The The American Recovery and Reinvestment Act of 2009. The letter addresses expanding NMTC Authority in 2008 and 2009, Alternative Minimum Tax Relief and the carry back of business tax credits.
At press time the Economic Recovery Act was still in conference committee and specific text was not available; however, Congressional leadership has indicated that House a compromise has been agreed upon that will cost about $789 billion. Reports of housing provisions include…
The conference committee has released a summary of appropriations provisions in HR 1: The American Recovery and Reinvestment Act.Â The measure provides $311 billion in appropriations.Â Highlights include:
Please see the following summary of key provisions from the conference report of HR 1: The American Recovery and Reinvestment Act.
The United State Senate has approved HR1: The American Recovery and Reinvestment Act of 2009 on a vote of 61-37.Â The Congressional Budget Office reports that the current version of the measure would cost $838 billion over ten years.Â Only three Republicans voted in favor of the measure.Â The package now heads to a House-Senate conference to resolve differences between the two versions.Â A compromise measure is expected towards the end of the week. A summary of the key housing and tax credit related provisions include…
NH&RA New Markets Tax Credit Council is pleased to report that our sources indicate that that House & Senate Conferees have agreed to New Markets Tax Credit provisions from the Senate version of HR1: The American Recovery and Reinvestment Act of 2009.