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H.R. 5970 Fails

Monday, August 7, 2006 - 3:30PM

The Senate last week failed to pass legislation that would have extended through 2009 the bonus depreciation eligibility deadline for nonresidential real and residential rental property in the Gulf Opportunity Zone. The bill (H.R. 5970), referred to as the 'Trifecta' bill because it included permanent estate tax relief, tax extenders and increasing the minimum wage, failed on a 56-42 vote. Supporters of the provisions included in the measure have expressed hope that they could be passed yet this year after Congress returns from recess.

This and other legislation related to the low-income housing tax credit will be discussed by industry experts at Novogradac & Company LLP's 13th Annual San Francisco Affordable Housing Conference September 14-15. Click here for more information about the event.

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