Dear Colleague: I write to invite you to attend the New Markets Tax Credit Coalition’s 2014 Annual Conference on December 10th and 11th. The conference will be held in Washington, D.C. at the Washington Marriott at Metro Center. The conference will be held at a key moment, as it is clear that Congress will not consider NMTC extension legislation until after the elections in November, during the Lame Duck session. Updated conference information will be available on the Coalition's website under “Events”. Registration is now open and can be done online. The NMTC is increasingly seen as an essential element in the federal community development landscape, and a key tool for revitalization in rural urban communities across the country. The Fiscal Year 2015 budget and pending legislation in both the Houses of Congress support an extension of the NMTC. In the Senate, Sens. Jay Rockefeller (D-WV) and Roy Blunt (R-MO) lead a bipartisan coalition of Senators who support a permanent extension and expansion of NMTC. This spring, the Senate Finance Committee, led by Chairman Ron Wyden (D-OR), reported the EXPIRE Act to the floor, which extends the NMTC for two years at $3.5 billion in annual credit authority. In the House, Reps. Jim Gerlach (R-PA) and Richard Neal (D-MA) introduced the New Markets Tax Credit Extension Act of 2014 (H.R. 4365), which has the support of nearly 80 cosponsors. Like the Senate legislation, the House bill provides an indefinite extension for the NMTC, increases annual credit authority to approximately $4.7 billion, and provides an exception from the Alternative Minimum tax for NMTC investments. However, as is usually the case in Washington, we will need a push from outside the beltway to get an extension of the NMTC through Congress and to the President’s desk. For this reason, the conference agenda includes a lobby day on December 10th, which will be followed by a reception on the Hill. More details and an invitation for Members of Congress and their staffs will be distributed to registrants. The remainder of the conference agenda includes:
Presentations by Members of Congress and a panel discussion with key Congressional staff on prospects for tax legislation and NMTC in this Congress; Panel discussion with Treasury, IRS and CDFI Fund staff on policy, guidance, application and program issues related to NMTC; An investor roundtable designed to provide conference participants with insight into investor views on NMTC; and Panel discussion on the NMTC and the Law.
We have reserved a small block of rooms at the Washington Marritott at Metro Center for the nights of December 9th and 10th at a rate of $229 per night. The cut-off for reservations is November 17th,
but we strongly encourage those interested to make reservations as soon as possible to ensure availability. I urge you to join us in Washington on December 10th and 11th. Sincerely, Jose Villalobos NMTC Coalition President
