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Housing Relief Package Still On Track With Rehab Tax Credit Amendments in Tow
Historic Preservation Blog from PreservationDirectory.com - 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 Senate passed its version of the Housing/Mortgage relief bill (H.R. 3221) on July 11th with three amendments to the federal rehabilitation tax credit safely in tow. However, the expanded non-profit leaseback provision offered by Sens. Blanche Lincoln (D-AR) and Gordon Smith (R-OR) to extend the allowance lease period from 20 to 31.5 years was not the version included in the Senate-passed bill because it proved too costly.

On the scheduling front, further consideration of the housing package has been delayed until early next week while lawmakers digest the Treasury Department’s plan to bail out mortgage giants Fannie Mae and Freddie Mac, which would be added to the bill in conference.

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


Keywords: federal rehabilitation tax credit, National Trust for Historic Preservation

Posted: July 21, 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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