Efforts are currently underway to incorporate several tax credit provisions into the Senate small business jobs bill. Timing is uncertain; however, reports indicate that the legislation could be considered in the next two weeks. Provisions under consideration include extending the 1602 Exchange to 4 percent LIHTC projects and well as increasing the carryback for new and existing investors to five years and expanding the investor base for LIHTC. Recently Rep. Bill Pascrell (D-N.J.) and Senator Jeff Bingaman (D-N.M.) have requested Congressional Budget Office scores for their carryback proposals as outlined in H.R. 4109 and S.3141, respectively. One obstacle to passage is finding non-controversial offsets to comply with Pay-As-You-Go (PAYGO) rules.
We will be exploring this legislation and other key public policy proposals May 20-21 at NH&RA Spring Policy Forum, at the Liaison Hotel in Washington, DC. Key staffers from the House Financial Services Committee, House Ways & Means Committee, Senate Finance Committee, House & Senate Appropriations Committee will be on hand to discuss the latest developments. Early Registration ends April 21.
