Tax Exempt Bonds

On March 24 the U.S. House of Representatives passed a $16.8 billion package of tax incentives (HR 4849) for state and local governments and small businesses, the second measure in the Democrats’ “jobs agenda” to pass the chamber this month. The measure passed on a largely partisan 246-178 vote. Key provisions include:…

House Democrats on the Ways and Means Committee are reported to be considering amending the tax extenders bill (HR 4213) to shift an extension of the Build America Bonds (BAB) program from the small business bill (HR 4849) to the tax extenders legislation. The shift is being urged because of concerns that the tight Senate calendar may not leave enough time to move other tax bills this year. HR 4213 also includes extensions of the Section 1602/Exchange Program, New Markets Tax Credit and GO Zone Historic Tax Credit and Bonus Depreciation Provisions.

House Ways & Means Committee Chairman Sander Levin (D-Mich.) has indicated that he hope to have his tax credit extenders legislation (HR 4213) and small-business focused tax bill (HR 4849) enacted into law before Memorial Day.

The U.S. Department of the Treasury has released a new report showing that the Build America Bonds program has resulted in significant savings in borrowing costs for state and local governments.

Major decisions are being made in Washington that affect the future of tax credit development. But these decisions aren’t made in a vacuum – they are made after consultation with industry experts, constituents and consumers. You should be part of the conversation! Join NH&RA in Washington, DC for its 2010 Spring Policy Forum.

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!

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.

You can now purchase individual audio recordings of select panel sessions offered throughout 2009. Mix and match sessions from any 2009 event on one convenient CD-ROM!

The National Council of Affordable Housing Market Analysts (NCAHMA) recently hosted a training seminar on January 12 in Sacramento for staff members of the California Tax Credit Allocation Committee and California Debt Limit Allocation Committee.

The U.S. Treasury Inspector General for Tax Administration (TIGTA) recently published a report entitled, “Observations About Annual Dollar Limits for American Recovery and Reinvestment Act of 2009 Bonds.”

The U.S. Department of Treasury, in partnership with Department of Housing and Urban Development (HUD), and the Federal Housing Finance Agency (FHFA) has announced the purchase $13.9 billion in housing bonds from 50 of its state Housing Finance Agency (HFA) members under the Obama Administration’s HFA Initiative.  The initiative was unveiled October 19.  In addition to a single-family component, the HFA Initiative will make affordable financing available to provide affordable multifamily loans that will help keep rents affordable for tens of thousands of renters.

Last night (November 18), Representative Bill Pascrell (D-NJ) introduced legislation that would increase the carryback period for low-income housing tax credits (LIHTCs). Representative Pascrell is a member of the majority party in the House and sits on the House Ways & Means Committee. The measure would implement the following changes…