RealEstateRama Laws & Taxes
Gov. Branstad and Lt. Gov. Reynolds at their Monday morning press conference today announced that eligible Iowans can now buy a home and reduce their federal income tax liability by up to $2,000 a year for the life of their mortgage through the Take Credit mortgage credit certificate program administered by the Iowa Finance Authority. Approximately 780 home buyers are expected to benefit from the program in 2016, which is now available for new purchases through a network of lenders throughout the state.
The effort by state, federal and local law enforcement agencies to enforce Iowa’s boating while intoxicated law as part of the national Operation Dry Water campaign resulted in making contact with more than 1,400 boaters on 380 vessels.
Approximately 23,000 youth age out of the foster care system each year. For youth who age out of the foster care system, finding reliable and secure housing is one of their biggest challenges. Of these youth, approximately 11 percent to 36 percent become homeless, while another 25 percent to 50 percent experience unstable housing. Today, the Senate Caucus on Foster Youth, co-chaired by Sens
November 18, 2010 - (RealEstateRama) -- December 31 is the deadline to file for Urban Revitalization Tax Exemption on eligible properties which received property improvements during calendar year 2010. All residential property owners within the corporate limits of the City of Sioux City that made improvements to their property in 2010 are encouraged to apply for the tax exemption.
WASHINGTON, DC - August 11, 2010 - (RealEstateRama) -- Senator Chuck Grassley is urging the Department of Housing and Urban Development to do a better job of preventing lifetime convicted sex offenders from receiving federal housing benefits, as federal law requires. Grassley’s letter comes after an inspector general report determined that the federal government subsidizes housing for an estimated 2,094 to 3,046 lifetime registered sex offenders.
Governor Culver Announces Federal Assistance for Housing Initiatives in Creston, Altoona, Dubuque, West Des...
DES MOINES, IA - June 14, 2010 - (RealEstateRama) -- Governor Chet Culver today announced that projects in Creston, Altoona and Dubuque will share an award of more than $2.6 million in federal Low-Income Housing Tax Credits to create 135 units of affordable housing. Likewise, a 55-unit housing development in West Des Moines will receive $3,084,299 in Section 1602 funds. A part of the federal American Recovery and Reinvestment Act, the Section 1602 program allows affordable housing developers to exchange some of their original tax credit allocation for cash to finance the construction of their project. The Iowa Finance Authority (IFA) administers both the Low-Income Housing Tax Credit Program and the 1602 Program.
Low-Income Housing Tax Credits benefit Iowans in communities large and small DES MOINES, IA - May 13, 2010 - (RealEstateRama) -- Nine projects in eastern, western and central Iowa will receive approximately $5 million in federal housing tax credits to build or rehabilitate 312 units of affordable housing, Governor Chet Culver announced today.
Washington, DC - March 10, 2010 - (RealEstateRama) -- Congressman Loebsack sent a letter today to Speaker of the House Nancy Pelosi urging her to bring legislation to the floor that will ensure Iowans are not barred from tax credits due to requirements that penalize married couples. The issue was brought to his attention after a married couple in Iowa found that they were ineligible for the expanded First-Time Homebuyer Tax Credit due a loophole that requires both spouses to meet the same criteria
DES MOINES, IA - January 20, 2010 - (RealEstateRama) -- Governor Chet Culver today will sign three bills designed to protect Iowa taxpayers and maximize state aid for schools
Sioux City, IA - December 9, 2009 - (RealEstateRama) -- December 31 is the deadline to file for Urban Revitalization Tax Exemption on eligible properties which received property improvements during calendar year 2009. All residential property owners within the corporate limits of the City of Sioux City that made improvements to their property in 2009 are encouraged to apply for the tax exemption.
DES MOINES, DC - December 8, 2009 - (RealEstateRama) -- The Iowa Finance Authority (IFA) Board of Directors recently approved nearly $13 million in federal resources to finance the development of The Rose of Council Bluffs, a 76 unit affordable housing development for older residents
WASHINGTON, DC - November 23, 2009 - (RealEstateRama) -- Sen. Chuck Grassley of Iowa has introduced legislation giving Midwestern disaster victims more time to benefit from tax relief intended to help them repair or replace their devastated homes.
November 16, 2009 - (RealEstateRama) -- Sen. Chuck Grassley, ranking member of the Committee on Finance, today made the following comment on a new report saying that a $400 tax credit provided by the economic stimulus plan may leave more than 15.4 million Americans owing money to the IRS because of under-withholding from their paychecks. The Treasury Inspector General for Tax Administration (TIGTA) today released its review of the IRS’ administration of the making work pay credit. Recent reports have documented administrative problems with the homebuyer tax credit and the existing health care tax credit
Awards will aid residents of Red Oak, Avoca, Sioux City, Waverly, Waterloo, Onawa and Iowa City. DES MOINES, IA - November 10, 2009 - (RealEstateRama) -- Governor Culver announced today that five entities from around Iowa will receive a total of nearly $1.2 million to build and rehabilitate affordable housing. The awards are made through Affordable Housing Assistance Grant Funds, a part of the Culver/Judge Administration’s I-JOBS initiative. The Iowa Finance Authority administers the program
Boswell Votes to Extend Unemployment Insurance Benefits, Homebuyers’ Tax Credit, Business Tax Relief
Washington, DC - November 6, 2009 - (RealEstateRama) -- Congressman Leonard Boswell voted to pass the Emergency Unemployment Compensation Extension Act to extend unemployment benefits, the homebuyers’ tax credit, and tax relief for military families and businesses in a vote of 403 to 12.
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