RealEstateRama Laws & Taxes
Governor Tom Wolf today signed Senate Bill 8, sponsored by Sen. Mike Folmer, into law as Act 13 of 2017. The bipartisan bill reforms asset forfeitures, which are civil proceedings against property that allow law enforcement to take possession of property of certain persons suspected of crime
Rep. Steve Barrar (R-Chester/Delaware) joins Rep. Ryan Warner (R-Fayette/Westmoreland), who is the maker of legislation that would allow municipalities to offer income and/or property tax credits to volunteer first responders, in calling on Gov. Tom Wolf to sign House Bill 1683
The Justice Department announced today that a Johnstown, Pennsylvania, landlord has agreed to pay $30,000 to resolve allegations that he discriminated against families with children in violation of the Fair Housing Act, Bahamas Real Estate
Governor Tom Wolf today joined House Democratic Leadership in putting forth an amendment in the Pennsylvania House of Representatives to fix the commonwealth’s structural budget deficit, fund K-12 education and provide expanded property tax relief to seniors and disabled households.
U.S. Senator Bob Casey (D-PA) announced that he and Senator Susan Collins (R-ME) have introduced the Power Efficiency and Resiliency (POWER) Act that will help more businesses in Pennsylvania and across the nation access existing energy efficiency tax credits that incentive converting so-called waste heat and combined heat to power. Rep. Tom Reed (R-New York) and Rep. Blumenauer (D-Oregon) have introduced a companion bill in the U.S. House of Representatives
The Transportation and Infrastructure Committee today unanimously approved legislation to save taxpayers billions of dollars by reforming management of federal office space and real estate, and to increase accountability and oversight of the agency responsible for securing and protecting thousands of federal buildings.
The U.S. Environmental Protection Agency, the District of Columbia (District) and DC Water today announced an agreement to modify a 2005 federal consent decree (CD) allowing DC Water to incorporate green infrastructure in its long-term strategy for curtailing combined sewer overflows (CSOs).
Governor Wolf Announces Tax Credits and PennHOMES funding for Affordable Multifamily Developments in Pennsylvania
Governor Tom Wolf today announced awards of $36.9 million in tax credits and $12.5 million in PennHOMES funding for the construction of 39 affordable multifamily housing developments located throughout Pennsylvania. The tax credits are administered by the Pennsylvania Housing Finance Agency and were approved by its board.
Congressman Fattah Statement on Philadelphia Business/Union Coalition Proposal to Raise Real Estate Tax
Congressman Chaka Fattah (PA-02), issued the following statement on a proposal by business, union, and civic leaders in Philadelphia to raise the real estate tax, which has the potential to create new jobs and supply additional funding for the city’s schools
Representative Charlie Dent (PA-15) was presented with the 2015 Champion of Housing Counseling Award from the National Housing Resource Center (NHRC) and the area’s primary housing counseling agency, the Community Action Committee of the Lehigh Valley (CACLV)
Pennsylvania Treasury is delivering to members of the state General Assembly draft legislation that, if enacted, would establish the PA ABLE Savings Program – tax-exempt savings accounts specifically for people with qualified disabilities and their families.
Dean Rossi, 49, of Warrington, PA, was arrested today in connection with an alleged mortgage fraud scheme, announced United States Attorney Zane David Memeger.
Harrisburg property owners can sign up for payment plans for 2015 real estate taxes, City Treasurer Tyrell Spradley announced Monday. “Property owners must come into the office, sign up and make their first payment by Tuesday, March 10, 2015,” Spradley said. “There is still time to set up an easy payment plan to pay city real estate taxes.”
Backed by newly released data from the Federal Reserve Bank of Philadelphia on the unmet affordable housing needs among lower-income renters, a large group of Pennsylvania senators and representatives from both parties are preparing to launch a renewed effort to expand the state housing trust fund statewide, using new revenue from the growing Realty Transfer Tax to create badly needed homes affordable to thousands of lower-income families and individuals across the Commonwealth
Harrisburg - October 21, 2013 - (RealEstateRama) -- As a record number of households struggle with student loans, State Treasurer Rob McCord said many grandparents are playing a more active role in helping their grandchildren afford college. A Pennsylvania 529 account, he said, offers great tax advantages and estate planning benefits
WASHINGTON, D.C. - September 4, 2013 - (RealEstateRama) -- This Insights report describes the New Markets Tax Credit (NMTC) Program and the major considerations banks may need to address when using the tax credits to support community and economic development activities. The report examines the primary opportunities and risks associated with the use of NMTCs and discusses the methods used by national banks and federal savings associations (collectively, banks) to structure transactions and use the credits effectively. The report addresses banks’ participation in the NMTC Program as investors, as recipients of the tax credits (allocatees), and as leverage lenders
Harrisburg - June 27, 2013 - (RealEstateRama) -- About $232 million in property tax and rent rebates will soon be headed to nearly half a million Pennsylvania seniors, widows, widowers and people with disabilities, according to State Treasurer Rob McCord
Harrisburg - April 4, 2013 - (RealEstateRama) -- Businesses and organizations have until April 15 to report dormant financial assets and unclaimed tangible items to the Pennsylvania Treasury. This important annual deadline allows Treasury to return unclaimed property to the rightful owners or heirs
Endorse funding the National Housing Trust Fund by supporting reforms to mortgage interest deduction
January 18, 2012 - (RealEstateRama) -- The National Low Income Housing Coalition proposes to modify the current mortgage interest tax break by reducing the size of a mortgage eligible for a tax break to $500,000, and to convert the deduction to a 15-20% non-refundable tax credit
January 04, 2012 - (RealEstateRama) -- While portions of the fiscal cliff were averted, the bill failed to replace the across-the-board cuts to domestic and defense spending, known as sequestration, with alternative deficit reduction measures. The deal averted the cuts for approximately 2 months, moving the sequester back to March 1, with the hope that the 113th Congress can strike an alternative deficit reduction deal by then. If the sequester had gone into effect yesterday, the Alliance estimates that ultimate cuts to the Department of Housing and Urban Development's McKinney-Vento Homeless Assistance Grants would result in 145,000 people homeless instead of housed