Last week federal community development legislation made - TopicsExpress

Last week federal community development legislation made significant progress in both the US House and Senate. The Finance Committee approved the Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act of 2014, which would extend dozens of expired and expiring tax provisions. Included in these provisions is an extension of the minimum 9 percent Housing Credit rate, as well as the 4 percent credit rate. On top of that, New Markets Tax Credits, or NMTC, were also extended in the Senates vote. On the House side, Reps. Jim Gerlach (R-Pa.) and Richard Neal (D-Mass.) introduced a bipartisan bill to renew and make the NMTC permanent. Read more: digitaljournal/pr/1833286#ixzz2yDHAl04o House

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