SUMMARY, COST ESTIMATES POSTED FOR SENATE EXTENDER AMENDMENT

Wednesday, June 9, 2010 - 12:45PM

The Senate Finance Committee has released additional documents related to Senate Amendment 4301, a substitute for H.R. 4213, the American Jobs and Closing Tax Loopholes Act of 2010. Provisions included in H.R. 4213, also known as the tax extenders bill, 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 yesterday include a summary of the amendment, a summary of changes made by the amendment, and estimates from the Congressional Budget Office (CBO) budget and Joint Committee on Taxation (JCT) of the budget effects of the amendment. The Senate resumed consideration of the bill today.
To hear more about the status of H.R. 4213, the American Jobs and Closing Tax Loopholes Act of 2010, download this week’s Tax Credit Tuesday podcast.

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