On December 14, 2011, Congressmen Pat Tiberi (R-OH) and Richard Neal (D-MA) introduced H.R. 3661 a bill which would permanently extend the flat 9% Credit rate and create a flat 4% Credit rate for allocated Credits. The bill currently has 7 cosponsors including: Vern Buchanan (R-FL); Emmanuel Cleaver (D-MO); Joseph Crowley (D-NY), Jim Gerlach (R-PA); Bill Pascrell (D-NJ); Charles Rangel (D-NY); and Lee Terry (R-NE). Additionally, Senators Maria Cantwell (D-WA) and Olympia Snowe (R-ME) introduced S. 1989 which is the Senate version of the same legislation. The Senate version currently has 9 cosponsors including: Jeff Bingaman (D-NM); Scott Brown (R-MA); Benjamin Cardin (D-MD); Susan Collins (R-ME); Mike Crapo (R-ID); John Kerry (D-MA); Robert Menendez (D-NJ); Bill Nelson (D-FL); and Bernard Sanders (I-VT).
AHTCC strongly encourages its members to contact their Congressional representatives and encourage them to cosponsor this legislation. Congressmen interested in cosponsoring should contact Brad Bailey in Congressman Tiberi’s office at 202-225-5355 and Senators should contact Erin Gulick in Senator Cantwell’s office at 202-224-3441.
AHTCC has been working closely with Congressmen Tiberi and Neal as well as Senators Cantwell and Snowe to ensure introduction of this legislation. Our efforts will now turn to working with the Members to find an appropriate vehicle to which this legislation can be attached. AHTCC does not expect this legislation to be acted upon prior to the end of the year.
If you have any questions concerning the Coalition’s legislative priorities please contact Coalition legislative counsel Jim Miller (202-799-4379 or James.Miller@dlapiper.com) or Coalition executive director Victoria Spielman (202-585-8162 or Victoria.spielman@taxcreditcoalition.org).