Federal / Agency News

The National Commission on Fiscal Responsibility and Reform has released a draft proposal to reduce the federal debt and overhaul the tax code.

The Senate and House of Representatives have adjourned sine die and will convene for the 112th Congress on Jan. 5, 2011.

On behalf of the entire staff at NH&RA, we wish you a happy and healthy Holiday season!

A bipartisan group of 26 senators yesterday sent a letter to Senate Majority Leader Harry Reid, Minority Leader Mitch McConnell, Finance Committee Chairman Max Baucus and Finance Committee Ranking Member Charles Grassley urging a two-year extension of the Section 1603 Payments for Specified Energy Property in Lieu of Tax Credits Program during the lame-duck session.

On Monday, September 27, President Obama signed the Small Business Jobs Act of 2010 into law. The legislation passed the House by a 237 to 187 vote; the Senate version of the bill was passed the previous week.

NH&RA is pleased to offer the PowerPoint slide presentations for sessions exhibited during the 2010 Fall Developers Forum, October 18 & 19 in Boston, Mass.

Senate Finance Committee Chairman Max Baucus today introduced a new version of tax extenders legislation (HR 4213). The Job Creation and Tax Cut Act of 2010 includes following provisions from H.R. 4213, the American Jobs and Closing Tax Loopholes Act (also known as the tax extenders bill), including:

Tax Credit Advisor ““ November 2010 ““ For the new markets tax credit (NMTC) industry, all eyes are on Washington, wondering whether or when Congress will enact legislation to reauthorize the program, which lapsed on December 31, 2009.

The U.S. Department of Housing and Urban Development has released a proposed rule that submits regulations for governing the Housing Trust Fund, established by HERA in 2008 to provide grants to State governments to increase and preserve the supply of rental housing for extremely low- and very low-income families.

Senate Energy and Natural Resources Committee Chairman Jeff Bingaman (D-NM) and Small Business and Entrepreneurship Committee Ranking Member Olympia J. Snowe (R-ME) recently introduced the Advanced Energy Tax Incentives Act of 2010 (S. 3935).

Before recessing to campaign, Congress approved and President Obama signed a continuing resolution to fund the federal government temporarily, through December 3.

House Financial Services Committee will hold a hearing on September 23 titled “Perspectives on the Livable Communities Act of 2010.”