July 6, 2010 Newsletter

06-Jul-2010
 
Topics: Appropriations Bill Cuts Charter School Funding; IRS and Tax-Exempt Hospitals  
U.S. HOUSE BILL 4899 PASSES WITH CHARTER SCHOOL CUTS

Late on Thursday night, the U.S. House passed a supplemental appropriations bill including an education funding amendment by Rep. David Obey (D-WI), which aims to reduce by $100 million the amount of funding for U.S. charter schools that was originally provided in the 2009 stimulus package.

The cut was part of an overall reduction in stimulus education funding, including $500 million cut from Race to the Top and $200 million from the Teacher Incentive Fund. Read about the charter school funding cut at Education Week and the Wall Street Journal.

State and national charter school associations are vocally displeased about the Obey amendment. Click here to read the response statements from the Texas Charter Schools Association and the National Alliance for Public Charter Schools.

The bill will now go to the Senate for reconciling. The White House has threatened to veto the bill over the domestic spending cuts.


INDUSTRY NEWS

 •   IRS Seeks Input from Tax-Exempt Hospitals

The Internal Revenue Service recently published a request for comment from tax-exempt hospitals, regarding the new filing and billing requirements mandated by the Patient Protection and Affordable Care Act. The comment deadline is July 22, 2010.

•   RELATED: A Hospital That Wants to Maintain Its Tax-Exempt Status Must Now Comply With the New Patient Protection and Affordable Care Act - April 2010

“There has been skepticism in Congress about whether exempt hospitals could justify the benefits of their exempt status by their delivery of charitable health care... This skepticism of hospitals doing sufficient charity also resulted in Section 9007 of the Patient Protection and Affordable Care Actthat added new Code § 501(r) and § 4959 to create additional requirements for exempt hospitals."....READ MORE

•   NABL Teleconference on BABs Now Online - July 2010

On May 25, 2010, the National Association of Bond Lawyers hosted a teleconference covering several Build America Bonds issues. The audio of the teleconference has been converted to a podcast for NABL members who would like to review it. Several follow-up questions were also answered after the teleconference and posted for review.....GET THE PODCAST and Q&A HERE

 

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