Federal / Agency News

National Housing & Rehabilitation (NH&RA) is pleased to offer digital audio recordings of select panel sessions from the 2010 New Markets Tax Credit Symposium (March 10) and the 2010 NH&RA Annual Meeting (March 11-13) in Miami Beach, Florida.

For a limited time only, you can get ANY single conference session recording FREE with your registration for one of NH&RA’s and/or NCAHMA’s upcoming events!

Did you miss the 2010 Affordable Housing Conference & NH&RA Annual Meeting in Miami Beach, March 11-13? Don’t worry! NH&RA has made available digital audio recordings of select sessions from this year’s program!

NH&RA has made available the conference PowerPoint presentations from its 2010 Annual Meeting & NMTC Symposium, held March 10-13 in Miami Beach, Fla.

Treasury Secretary Tim Geithner announced today the Obama Administration’s intention to improve, extend and enhance the New Markets Tax Credit Program. “Distressed communities and their small businesses have a hard time attracting investments even in the best of times,” said Secretary Geithner. “The New Markets Tax Credit helps these communities attract new investors and ensure they stay invested long enough for businesses to overcome obstacles and grow. That’s why the President expanded the New Markets Tax Credit through the Recovery Act last year and why we’re seeking to reform, extend and broaden the reach of these credits going forward.”

The U.S. Treasury Department recently updated its program guidance for the Section 1603 renewable energy tax credit cash grant exchange program.

Last week, the House Committee on Financial Services held a hearing on “Community Development Financial Institutions (CDFIs): Their Unique Role and Challenges Serving Lower-Income, Under-served and Minority Communities.”

Representatives of the Council for Energy Friendly Affordable Housing (CEFAH), a council within NH&RA, will be meeting with the staff of U.S. Sen. Michael Bennet (D-Colo.) to discuss the senator’s recently introduced energy efficiency legislation and to express support for it.

Senate Majority Leader Harry Reid has announced that he will push jobs legislation that will not include several tax credit extenders included in a draft bill previously circulated by Senators Max Baucus (D-Mont.) and Charles Grassley (R-Neb.), Chairman and Ranking Member of the Senate Finance Committee have released a draft Jobs Bill.

The U.S. Department of Housing and Urban Development is requesting comments on a proposed information collection project under which state housing credit agencies will gather data and information regarding the race, ethnicity, family composition, age, income, rental assistance, disability status, and monthly rental payments of households living in federal low-income housing tax credit projects.

U.S. Department of Housing and Urban Development Secretary Shaun Donovan has announced the selection of Richard Walega as HUD’s new Regional Director for New England, which comprises Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont.

The United States Senate voted, 70-28, today (Wednesday, 2/24)to pass Senator Harry Reid’s (D-Nev.) Jobs Bill. The $85 billion bipartisan jobs proposal was negotiated by the Finance Committee chairman, Max Baucus, D-Mont., and the committee’s top Republican, Charles E. Grassley of Iowa.

The U.S. Government Accountability Office (GAO) released a new report in late January on the New Markets Tax Credit Program entitled, “Credit Helps Fund a Variety of Projects in Low-Income Communities, but Could Be Simplified.” In the report, GAO describes where and how community development entities (CDE) are using NMTCs to finance development in low-income communities and describes options for simplifying the NMTC program.