Congress

The U.S. House of Representatives Ways and Means Committee has released its latest edition of the “Green Book”, which contains detailed information about key health, welfare, retirement, and related programs under the jurisdiction of the Committee along with current data on these programs, the populations they serve, and historical information relating to each program.

The Government Accountability Office (GAO) recently released a report that identifies several tax expenditure programs that contribute to community development, several of which overlap with at least one other tax expenditure program in terms of the areas or activities funded.

U.S. Representative Steve Chabot (R-OH) earlier this month introduced a new piece of legislation that would implement structural changes to the Section 8 Housing Choice Voucher Program.

The U.S. House of Representatives Ways and Means Committee Chairman Dave Camp (R-MI) and Select Revenue Measures Subcommittee Chairman Pat Tiberi (R-OH) recently announced they will begin holding hearings on tax extenders in April.

The U.S. Senate Committee on Banking Housing and Urban Affairs Subcommittee on Housing, Transportation, and Community Development will hold a hearing on the Choice Neighborhoods Initiative entitled “The Choice Neighborhoods Initiative: A New Community Development Model” on Tuesday, March 27, 2012.

On March 6, 2012, the House Financial Services Committee held a markup on its Views and Estimates of President Obama’s fiscal year 2013 budget.

Senator Chuck Grassley (R-IA), along with a bi-partisan group of U.S. Senators, introduced the American Energy and Job Promotion Act (S. 2201) which would amend the Internal Revenue Code of 1986 to extend the wind energy production tax credit (PTC) for two years.

On March 13, the United States Senate voted on several remaining amendments to the Moving Ahead for Progress in the 21st Century, or the MAP-21 Act (S. 1813).

Congressman Joe Baca (D-Rialto) introduced legislation in the House of Representatives that would give non-profit agencies and Community Development Corporations (CDCs) access to funds for affordable housing projects made available through the State Small Business Credit Initiative.

The United States Senate adopted an amendment by unanimous consent to the Moving Ahead for Progress in the 21st Century Act or MAP-21 Act (S. 1813) that would provide a one year extension to the New Markets Tax Credit (NMTC) program.

The Acting Director of the Federal Housing Finance Agency (FHFA), Edward J. DeMarco, recently sent a memo to members of Congress outlining a strategic plan for the next phase of the conservatorships for the Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac.

Reps. Patrick Tiberi (R-OH) and Richard Neal (D-MA) recently sent a letter to members of Congress urging their support of H.R. 3661. H.R. 3661 would make permanent the fixed floor rate for 9% low-income housing tax credits that was enacted as part of the Housing and Economic Recovery Act.