$787 Billion Stimulus Package Passed by Congress

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2/14/2009
9:26 pm
The American Recovery and Reinvestment Act of 2009, the widely publicized $787 billion federal economic stimulus package, was passed by Congress on Friday, Feb. 13, 2009 and sent to President Obama. The voluminous legislation includes spending measures and tax provisions.   
 
Waller Lansden has analyzed the legislation and prepared a series of informative articles on key aspects of the legislation. For more information, please click on the following links:
 
Including tax provisions focusing on individuals; business tax incentives; low income housing grants.
 
Including tax-exempt financing for manufacturing facilities; changes to rules governing financial institutions holding tax-exempt bonds; tax credit bonds; Build America Bonds; Private Activity Bonds.
 
Including provisions to assist businesses in restructuring debt with elective deferral of certain tax payments upon cancellation of indebtedness income.
 
Including energy tax credits for individuals; home energy-efficient improvements tax credit, investment tax credit; renewable energy production tax credit; energy grants in lieu of tax credits.
 
Including opportunities to combine federal energy incentives with Tennessee tax incentives.
 
Including incentives for hospitals and physicians; requirements for “meaningful” use; applicability to federal agencies and private entities.
 
Including heightened enforcement and increased penalties; extension of privacy and security laws to business associates; new security breach notification requirements; patient's right to restrict access to Personal Health Information.
 
Waller Lansden will continue to review the American Recovery and Reinvestment Act of 2009 and will provide updates on issues and events as they develop. For more information on specific topics, please contact the Waller Lansden attorneys listed on the respective articles at 800-487-6380.



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