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. We are pleased to report that Congress is poised to take action on several key pieces of legislation in the next several days. Here is a taste of what we learned…
The Tax Extenders Legislation is still on track to be enacted before Memorial Day. House and Senate negotiators are working out the final details as we speak. Prospects seem very positive for a one-year extension of the 1602/Exchange program for 9% LIHTC, as well as extensions of the New Markets Tax Credit and GO Zone Historic Credits/Bonus Depreciation. It is also looking increasingly likely that the National Affordable Housing Trust Fund will finally get funded in the Tax Extenders Legislation bringing in much a needed new source of gap financing for affordable housing transactions. Compromise legislation could move in the House of Representatives as soon as this week.
Unfortunately, there is still a great deal of uncertainty on other key legislative initiatives. Budget constraints and the mid-term elections have created a shortened legislative calendar and a heightened partisan atmosphere. There are still legislative vehicles to move forward our agenda but it is a very challenging legislative environment.
Find out what this means for your business by joining us in Washington next week (May 20-21) for the NH&RA Spring Policy Forum to get all the latest updates from key legislative staffers and regulators on the extenders legislation and also learn about the prospects for other key programs and provisions still on the table including:
Expanding the 1602/Exchange Program to 4% LIHTC transactions
- 5-Year Carry-Back
- New Markets Tax Credit AMT Fix
- Historic Tax Credit Amendments
- Preservation Legislation
- Transformation of Rental Assistance
- FY-2011 HUD Appropriations
- Choice Neighborhoods Initiative
- Build America Bonds
- Mid-West Flooding/Disaster Credits Extension
- Taxing Carried Interest
- Section 202/811 Funding and Fixes
- …and more
NH&RA Spring Policy Forum
May 20-21, 2010
The Liaison Hotel
Washington, DC
Click here to view the conference agenda
Click here to register online
Click here to reserve your hotel room
Questions about the legislation or the meeting? Can’t attend both days? We have a limited number of one-day registrations available. Contact Thom Amdur at 202-939-1753 or tamdur@housingonline.com.
