GNAR on tax credit extension
Posted on November 9, 2009 at 9:40 amHmm, the Realtors like it. Says Mike Nichols:
For homebuyers, it creates the opportunity to seriously consider purchasing a home based on the fact that this significant help is available. It is even better news that the program is now being made available at the reduced rate of $6,500 to repeat buyers who have owned their home for 5 years.
For the economy, it is especially meaningful. Much has been said about the housing market helping lead the way out of the current economic recession. Clearly, when people purchase homes, they often purchase other items to help furnish, equip and decorate their homes, so the impact is felt well beyond those directly involved in the actual home purchase transaction.
This is also very good news for Tennessee, as it was noted recently that this state is among the top users of the tax credit to date.
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TNInvestco finalists to be announced
Posted on November 4, 2009 at 1:56 pmFrom the State of Tennessee:
Economic and Community Development Commissioner Matt Kisber and Revenue Commissioner Reagan Farr have scheduled Thursday, November 5, 2009 at 10:00 a.m. Central time to announce the six venture capital fund finalists and two alternates for the TNInvestco program. The TNInvestco program was created by the Tennessee General Assembly in 2009 and the commissioners of ECD and Revenue were charged with allocating $120 million dollars in gross premiums tax credits to the successful applicants in order to leverage private investment in early stage and mid stage capital investment programs. The aim of the program is to attract capital to Tennessee companies and create jobs in the process.
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Two more obstacles for the housing market
Posted on September 29, 2009 at 8:25 amThe folks at HousingWire check in with one study taking a closer look at how loan modifications aren’t working and another that suggest an extension of the new homebuyer tax credit won’t stimulate demand anywhere near as much as its backers would want it to.
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Affordable housing development drying up
Posted on August 31, 2009 at 11:57 am
Because big money-losing investors like Fannie Mae and Freddie Mac are no longer interested in buying tax credits hawked by low-income housing developers, projects across the country are on hold.
Census data show about 3 million affordable apartments were destroyed, converted to for-sale condos or upgraded to higher-priced rentals during the last six years. At the same time, more than half of all renters are spending at least 30 percent of their before-tax income on housing, up from 40 percent in 2000.
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Psst, wanna invest in some small companies?
Posted on July 23, 2009 at 12:47 pmThe state’s ECD team has outlined the process for picking the six firms that will receive $120 million of tax credits to help them invest in high-potential Tennessee companies. One of the rules: No money will go to ventures active in “professional accounting, medical or legal services, banking or lending, real estate development, insurance, oil and gas exploration or direct gambling services.”
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Franklin green vehicle company upset with IRS
Posted on January 8, 2009 at 7:52 amThey let our elected leaders and the people know on their blog:
But now, now the IRS is saying that they don’t want to include our vehicles in this credit. That’s BOLOGNA. Our street-legal,electric vehicles are the ones ON THE ROAD TODAY and are the ones that are actually affordable. The IRS is trying to circumvent the voice of the people and Congress. This is particularly frustrating because this incentive is designed to help taxpayers move to cleaner transportation, fueled by American Power TODAY, not in “a couple of years, maybe.”
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