Differences in these packages will need to be reconciled before they are sent to the President for his signature. At MHI’s request, the Senate bill includes an extension of the energy tax credits for manufactured and modular housing due to expire the end of this year. Although MHI would have preferred an extension of several years, the Senate provision is for one year in keeping with its focus on temporary economic relief for individuals and companies. In addition, the Senate bill also increases the carry back period for net operating losses (NOL) from two years to five years for NOLs arising in calendar years 2006, 2007 and 2008. This will help industry members including manufacturers, retailers, and suppliers, which have recently suffered losses.
MHI strongly advocated to have FHA Title I (home only loans) reform included in the stimulus package, as did industry supporters on Capitol Hill. Ongoing efforts include meetings and letters to the Hill as well as grassroots support. Although the Administration supports broad FHA reform including FHA Title I reform, the Treasury Department is taking the position that this package should be both limited and temporary. As a result, the House and Senate versions focus primarily upon extensions of existing programs, without adding new programs or reforming exiting programs  such as title I. MHI has sent out an Action Alert to all certified representatives
requesting them to contact their Members of Congress to urge inclusion of FHA Title I  reform in the final stimulus package.