June 15, 2010 Newsletter

01-Jul-2010
 
Topics: Stimulus Extender Bill Passes House; Charter School Finance White Paper; NMTC Demand Remains Strong 
H.R. 4213 PASSES HOUSE, MOVES TO SENATE

The U.S. Congress is considering H.R. 4213, the "American Jobs and Closing Tax Loopholes Act", a tax-relief bill containing several extensions of the American Recovery and Reinvestment Act which will be helpful to the bond market.

The House passed the legislation on May 28. The Senate returned from Memorial Day recess and took up the bill on June 7.

This June 1 Bond Buyer article has a good overview of the direct impact to BABs, recovery zone bond allocations, and tax exemptions in the present legislation.

You can read the legislation at the Senate Finance Committee website, or  get status updates at the H.R. 4213 page at THOMAS, the legislative research website of the Library of Congress.


INDUSTRY NEWS

 •   Demand for New Markets Tax Credits Remains Strong - U.S. Treasury, June 9, 2010

“The U.S. Treasury Department's Community Development Financial Institutions Fund (CDFI Fund) announced today that it received a total of 250 applications under the 2010 round of the New Markets Tax Credit (NMTC) Program, requesting an aggregate total of $23,457,767,104 in NMTC allocation authority. A total of $5 billion of allocation authority is available this round, pending Congressional approval.”....READ MORE

•   White Paper: "Charter School Funding: Inequity Persists" - May 2010

“A new national study has confirmed what charter school advocates have always suspected: a persistent and wide-ranging funding disparity between charter schools and their traditional public school peers. “Charter School Funding: Inequity Persists,” released by Ball State University in May 2010, has refocused attention on the phenomenon in which charter schools lag behind traditional public schools in funding primarily because of the lack of capital construction funding.”....DOWNLOAD THE PDF

 

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