Tax Extender Bill Introduced in House Includes TCAP Extension.

Courtesy of Novogradac:

Ways and Means Committee Chairman Charles B. Rangel, D-N.Y., yesterday introduced H.R. 4213, the Tax Extenders Act of 2009. The Tax Extenders Act of 2009 would provide individuals and businesses with approximately $31 billion in tax relief in 2009 by extending, for one year through 2010, more than 40 provisions that are scheduled to expire at the end of 2009. The bill would extend for one year, through 2010, the tax credit exchange program, created by the American Recovery and Reinvestment Act of 2009, that allows state housing agencies to elect to receive a payment in lieu of a portion of the state’s allocation of low-income housing tax credits (LIHTCs).

Additional Resources From Joint Tax Committee

JCX-60-09 (December 08, 2009)
Technical Explanation Of H.R. 4213, The “Tax Extenders Act Of 2009,[See PDF page 93 for TCAP explanation].

JCX-59-09 (December 07, 2009)
Estimated Revenue Effects Of H.R. 4213, The “Tax Extenders Act Of 2009” [Top of PDF page 4 shows a FY 2010 revenue loss of $4.4 Billion for TCAP extension, but increased revenue in years after FY 2010, presumably because long term costs are reduced via one time up front grant].