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EXTENSION URGED FOR HOUSING, BUSINESS PROVISIONS IN GO ZONES

Monday, December 4, 2006 - 7:45AM

Louisiana Gov. Kathleen Babineaux Blanco and Louisiana Recovery Authority (LRA) chairman Norman C. Francis renewed their push for Louisiana's congressional delegation to support extending several key provisions of the Gulf Opportunity Zone (GO Zone) Act of 2005. In a letter sent December 1, they called on Congress extend the bonus depreciation provided by the GO Zone Act, and extend until December 31, 2010 the deadline for placing low-income housing tax credit (LIHTC) developments in service, as well as the deadline for benefits to these housing developments available through the GO Zone bonus depreciation and GO Zone LIHTC "basis boost."

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