Congress

Congresswoman Betty McCollum (D-Minn.) and Sens. Al Franken (D-Minn.) and Kit Bond (R-Mo.) recently introduced the Thermal Renewable Energy and Efficiency Act of 2010 (H.R. 5805), which would create a renewable thermal energy production tax credit by expanding the existing production tax credit (PTC) and expand the use of tax exempt bonds.

On July 21, President Obama signed the Restoring American Financial Stability Act of 2010 (H.R. 4173) into law, the most significant financial reform legislation since the Depression.

The U.S. Department of Housing and Urban Development’s (HUD) Office of Policy Development and Research has made available an interactive, historical timeline of key events, programs and legislation that has helped shape the nation’s housing policy since the 1930s.

Last week, Senators Amy Klobuchar (D-MN) and Tim Johnson (D-SD) introduced new legislation, the Securing America’s Future with Energy and Sustainable Technologies (SAFEST) Act.

Last week, the Senate passed the Frank-Dodd Wall Street Reform and Consumer Protection Act (H.R. 4173) by a 60-30 vote. The bill is expected to be signed by President Obama this week.

On July 15, the Senate Appropriations Committee approved a USDA appropriations bill for FY 2011 that would increase funds for Section 502 direct and guaranteed loans.

Senator Mary Landrieu (D-La.) recently proposed a package of tax incentives designed to create jobs and provide much needed relief to small businesses and communities along the Gulf Coast in the wake of the oil spill.

NH&RA’s new Legislative Leadership Council, which met and organized on May 20, has defined its mission and strategy for making NH&RA and its councils more effective policy advocacy bodies. The Council, comprised of a small group of NH&RA members, will make recommendations to the full Association for specific legislative changes.

Last week the US House of Representatives passed the H.R. 4173, Wall Street Reform and Consumer Protection Act of 2009. Historic Tax Credit advocates achieved a major victory in last minute amendment that removed provision that would have seriously compromised a bank’s ability to invest in historic tax credits.

The U.S. House of Representatives amended and passed HR 4899 (The Supplemental Appropriations Act of 2010). Although previously passed by the Senate, due to House amendments, the Senate will need to reconsider the measure.

The House of Representatives Appropriations Subcommittee on Transportation, Housing & Urban Development has released the Chairman’s mark-up for its FY-2011 the HUD Funding Bill.

U.S. Senator Maria Cantwell (D-Wash) last week proposed an amendment to the pending tax extenders bill (H.R. 4213) that would extend Section 1603 renewable energy tax credit cash grant program through the end of 2012.