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REVISED REVENUE ESTIMATES AVAILABLE FOR EXTENDERS BILL

Thursday, May 27, 2010 - 1:30AM

The House Ways and Means Committee released additional documents related to H.R. 4213, the American Jobs and Closing Tax Loopholes Act, also known as the tax extenders bill. Provisions included in the legislation would extend for one year the Section 1602 low-income housing tax credit (LIHTC) cash grant exchange program, extend for one year the New Markets Tax Credit (NMTC) program, and allow the NMTC to offset the alternative minimum tax with respect to qualified investments made between March 15, 2010 and January 1, 2012. The bill would also fund the National Housing Trust Fund (NHTF) and extend by two years the placed-in-service date for Gulf Opportunity (GO) Zone LIHTCs.

The documents released today include a manager's amendment by Ways and Means Committee Chairman Rep. Sander Levin, D-Mich., updated revenue estimates and a description of changes made since May 20. The House is expected to vote today on H.R. 4213; the bill could be sent to the Senate tomorrow.

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