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News
Senate Finance Committee Chairman Chuck Grassley, R-Iowa, today released a letter that responded to a letter from 27 Senate Democrats that criticized a lack of hearings on energy policy.
Twenty-seven Senate Democrats asked Senate Finance Committee Chairman Chuck Grassley, R-Iowa, to hold a hearing on tax policies to incentivize green energy policies. The senators, led by Senate Finance Committee Ranking Member Ron Wyden noted in a Feb. 11 letter to Grassley that, “nearly three dozen different energy bills” have been introduced in Congress and highlighted a variety of energy issues.
A bill introduced in the Utah House of Representatives would create a tax credit for building eligible parking structures in opportunity zones (OZs) and make affordable housing in OZs eligible for state programs. H.B. 299 would create a nonrefundable tax credit for 25 percent of eligible construction costs paid for an eligible parking structure in an OZ.
Illinois legislation would create a 10 percent state tax credit for investments in qualified opportunity funds that invest in the state’s opportunity zones. H.B. 4761 would create the credit for tax years beginning on or after Dec. 31, 2020, with a cap of $50 million for each two-year fiscal period. There would be a taxpayer cap of $1 million and the credit could be carried forward five years.
The White House today released its proposed $4.8 trillion budget for fiscal year (FY) 2021 that includes an $8.6 billion (15 percent) decrease in funding for the U.S. Department of Housing and Urban Development (HUD), with the elimination of the Community Development Block Grant and HOME Investments Partnership programs.
The White House Opportunity and Revitalization Council today publicly released its report to President Donald Trump, highlighting its achievements and calling for legislation to measure and report the impact of opportunity zones (OZs).
The U.S. Department of Housing and Urban Development (HUD) today announced the award of more than $50 million to nonprofit organizations to finance affordable housing, provide rental assistance and facilitate supportive services for very-low-income seniors. The HUD Section 202 grants provide funds in the form of capital advances or project rental assistance contracts. The funds went to 18 grantees in 12 states.
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