Congress

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Senate Passes Gap Financing Amendment; Several Amendments Still Pending

The U.S. Senate voted to adopt on SA 161 on February 4. Offered by Senator Kit Bond (R-MO) this amendment to the HR1: The American Recovery and Reinvestment Act of 2009 would provide $2,000,000,000 in gap funding for LIHTC projects to be available through September 30, 2011. There are several amendments still waiting to be considered that could impact the LIHTC Program.

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Senate Finance Committee Passes Amended Stimulus Bill; LIHTC Floor Amendment Under Discussion

The U.S. Senate Finance Committee on January 27 by 14-9 approved the tax component of the economic stimulus bill, after adopting a number of amendments to the original “Chairman’s mark.” The approved package proposes approximately $522 billion in tax cuts and tax incentives including many intended to save or create jobs and bolster the national economy.

congress-capitol

Numerous Groups Request LIHTC Amendments in Stimulus Bill

The National Housing & Rehabilitation Association along with more than 30 other organizations have signed and sent to Congress a letter outlining four specific proposed changes to the low-income housing tax credit program and asking that they be included in the final economic stimulus bill that lawmakers are now crafting.

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Chairman Frank Proposes $10 Billion for Stalled LIHTC Projects

In an interview reported by the Boston Globe, U.S. Representative Barney Frank indicated he wants the government to spend $10 billion on stalled low-income housing tax credit projects unable to secure equity.

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Confirmation Hearing Held for HUD Nominee

The U.S. Senate Banking Committee held a confirmation hearing for Shaun Donovan, President-elect Barack Obama’s choice for Secretary of the U.S. Department of Housing and Urban Development.

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House Appropriations Committee Amends, Adopts Economic Recovery Package

After adopting several amendments, the House Appropriations Committee approved HR 352 on a vote of 35-22. The measure is scheduled to be marked-up by two additional committees before being voted on by the full House of Representatives.

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House Releases Text For Economic Recovery Bill, Includes Many Items Advocated by NH&RA & CEFAH

The US House of Representatives has released the text for its economic recovery bill. The measure has not yet been assigned a bill number. The measure contains many items advocated for by NH&RA and our Council for Energy Friendly Affordable Housing.

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Want to Know Who Attends the NH&RA Affordable Housing Developers Conference and Annual Meeting?

The NH&RA Affordable Housing Developers Conference and Annual Meeting is the premier event for affordable housing and tax credit professionals. This year we are meeting March 11-15 at the Ocean Reef Club in Key Largo, Florida. Drawing a regional and national audience””this year’s program promises to be one of the compelling yet…

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Governors Propose Agenda for Recovery Package

New York Gov. David Paterson and several other governors recently sent a letter to President-elect Obama and Vice President-elect Biden that proposes an agenda for federal aid to states to be included in any future comprehensive economic recovery package.

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