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Legislation & Public Policy Issues in Preservation     


Legislation & Public Policy Issues in Preservation
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Housing Relief Package with Rehab Tax Credits Near Final Passage
Historic Preservation Blog from PreservationDirectory.com - Housing/Mortgage relief bill, federal rehabilitation tax credit, National Trust for Historic Preservation
Contributed By: The National Trust for Historic Preservation's Department of Public Policy
Email The Author: pr@nthp.org
Website: http://www.nthp.org

The House passed the Housing/Mortgage relief bill (HR 3221) on July 23rd with three amendments to the federal rehabilitation tax credit included and President Bush rescinded his previous veto threat of the bill over a provision providing CDBG-type grants for the purchase of foreclosed properties in distressed areas. The bill now goes back to the Senate for a rare Saturday session for final passage. Last week, the Senate passed its version of the Housing/Mortgage relief bill (H.R. 3221) on July 11th which did not include an expanded non-profit leaseback amendment offered by Sens. Blanche Lincoln (D-AR) and Gordon Smith(R-OR) to extend the allowance lease period from 20 to 31.5 years because it proved too costly. If the Senate acts favorably on Saturday, the housing relief bill could be signed by the President early next week.

Reprinted by permission of the Public Policy Department of the National Trust


Keywords: Housing/Mortgage relief bill, federal rehabilitation tax credit, National Trust for Historic Preservation

Posted: July 28, 2008
Unless noted, the thoughts and opinions expressed in the article are solely that of the
author and not necessarily the opinion of the editors of PreservationDirectory.com.
   



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