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Contact Senators to Voice Opposition Regarding Senate Amendment to FY2012 Appropriations Legislation
CARH’S BROADCAST E-MAIL –
Legislative Alert

October 26, 2011

Last week the full Senate began working on H.R. 2112, the Agriculture, Rural Development, Food and Drug Administration and Related Agencies Appropriations bill for Fiscal Year (FY) 2012. The Appropriations legislation is being considered along with several other funding measures, (Transportation and Department of Housing and Urban Development (THUD) and Department of Commerce funding). In recent years, Congress has increasingly resorted to “Omnibus” legislation, essentially encompassing all Appropriations Acts in an abbreviated voting process. This year, fewer than all of the Appropriations Acts are being considered, so H.R. 2112 is the vehicle for three appropriations bills and is being called the “Minibus.”

As part of this process, Senators are suggesting various amendments to the legislation. Senator Tom Coburn (R-OK) has offered a large number of amendments, some of which are very adversarial to the housing industry. For instance, last week, Senate Amendment 792 was narrowly voted down by a vote of 59-40 (60 votes were needed to pass) that would have eliminated funding for HUD multifamily properties that had one “life threatening” problem in the last five years (e.g., missing battery from a smoke detector).

The Senate is not in session for votes. When the Senate returns next week, further amendments will be offered to H.R. 2112. Of particular concern is Coburn Senate Amendment 800 which seeks to reduce the Rural Development budget across all programs by $1 billion. This would result in a reduction across all programs of more than 25%. (Click here for background information provided by Senator Coburn regarding this amendment.) At this time, we do not have specific information on whether it is, or will be, scheduled for a vote. However, these amendments move very quickly and we likely will not know the status until shortly before a vote is actually called.

It is important to make our voices heard, and to communicate with the Senators your opposition to Coburn Senate Amendment 800 so that it does not come to a vote, or if it does, Senators know that it is something they should oppose.

Please click here to contact your Senators. This amendment can come up anytime once the Senate, which is currently in recess, returns next week. Therefore, we urge you to immediately make phone calls and send e-mails to your Senators, or to Senators in states where you have properties.

If you have any questions, please contact the CARH national office at or 703-837-9001 or This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .
 
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Tax Credit Percentages

For May 2013:
9%: 7.41 4%: 3.18

   

  • Previous Month's Credits

    The IRS publishes monthly credit percentages that apply to low-income housing tax credit buildings placed in service that month.  There are two rates:  the 70% present value credit (PVC) and the 30% present value credit.  The maximum 70% rate is available for low-income new construction and substantial rehabilitation expendiretures that are not federally subsidized.  The maximum 30% rate applies to acquisition expenditures and to federally subsidized low-income new construction or substantial rehabilitation expenditures.

    *Note: The Housing and Economic Recovery Act of 2008 provides for a flat minimum percentage of 9% for the 70% present value housing credit for projects placed in service after July 30, 2008.

 

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Next CARH Meeting

The 2013 Annual Meeting & Legislative Conference will be held June 9-11, 2013, at the Ritz Carlton Pentagon City in Arlington, Virginia.