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February 26, 2009

Rocky Mountain Elk Foundation Raises $22,000 For PA Elk Country!

Filed under: Personal — mark @ 9:46 pm

Elk Foundation Bidders Help Pennsylvania Elk Tag Auction

MISSOULA, Mont.—The Rocky Mountain Elk Foundation knows how much premier

elk tags can generate for conservation, and RMEF reps on Friday night helped

Pennsylvania’s first-ever special elk tag raise $28,500.

The tag was auctioned at the National Wild Turkey Federation (NWTF) convention in

Nashville.

“Congratulations to NWTF. We’re always pleased when good money is raised to

conserve habitat for elk and other wildlife—and it was gratifying for us to be there,

participate in the auction and help this tag bring a respectable amount,” said David Allen,

president and CEO of RMEF.

The tag appeared seconds away from selling for $8,500 when RMEF reps jumped into

the bidding to ensure the tag brought a worthy sum. When the auctioneer finally finished,

the cheering crowd erupted at the total raised for conservation in the Keystone State.

Allen said, “We knew what we thought was a fair market value for that tag and we

wanted to make sure it brought at least that amount. Our volunteers and the Pennsylvania

Game Commission have worked hard for a lot of years to get the state’s elk herd to the

level it’s at today. We also know that someday we will likely be selling this tag ourselves

and we wanted to invest in its long-term success. All the money ends up in wildlife

conservation and that is our overall focus anyway.”

A bidder from Pennsylvania wound up with the tag.

“It was great as the buyer is a longtime member of RMEF as well as other conservation

groups. He and his wife are Pennsylvania residents and they told me later that they

wanted to make sure the tag went home to an in-state hunter. We couldn’t be happier

about that as well,” Allen added.

Opportunities to hunt elk in Pennsylvania also will be awarded though a general drawing.

Fifty-nine lucky hunters who submit an application and a $10 fee will receive a tag.

In addition to stewarding elk habitat in the Keystone State, the Elk Foundation also is

enhancing conservation education in partnership with the Pennsylvania Department of

Conservation and Natural Resources. Together, the partners are building a new Elk

Country Visitor Center in western Pennsylvania.

About the Rocky Mountain Elk Foundation

Snowy peaks, dark timber basins and grassy meadows. RMEF is leading an elk country

initiative that has conserved or enhanced habitat on over 5.4 million acres—a land area

equivalent to a swath three miles wide and stretching along the entire Continental Divide

from Canada to Mexico. RMEF also works to open, secure and improve public access for

hunting, fishing and other recreation. Get involved at

www.rmef.org

or 800-CALL ELK.

February 25, 2009

Breakdown of the 1st Time Home Buyer’s Tax Credit

Filed under:  Real Estate — mark @ 6:31 pm

FIRST-TIME HOMEBUYER TAX CREDIT

As Modified in the American Recovery and Reinvestment Act

Major Modifications Italicized

February 2009

FEATURE

CREDIT AS CREATED JULY 2008

APPLIES TO ALL QUALIFIED PURCHASES ON OR AFTER APRIL 9, 2008

REVISED CREDIT –

EFFECTIVE FOR PURCHASES ON OR AFTER JANUARY 1, 2009 AND BEFORE DECEMBER 1, 2009

Amount of Credit

Lesser of 10 percent of cost of home or $7500

Maximum credit amount increased to $8000

Eligible Property

Any single family residence (including condos, co-ops, townhouses) that will be used as a principal residence.

No change

All principal residences eligible.

Refundable

Yes. Reduces (or can eliminate) income tax liability for the year of purchase. Any unused amount of tax credit refunded to purchaser.

No change

Purchasers will continue to receive refund for unused amount when tax return is filed.

Income Limit

Yes. Full amount of credit available for individuals with adjusted gross income of no more than $75,000 ($150,000 on a joint return). Phases out above those caps ($95,000 and $170,000).

No change

Same income limits continue to apply.

First-time Homebuyer Only

Yes. Purchaser (and purchaser’s spouse) may not have owned a principal residence in 3 years previous to purchase.

No change

Still available for first-time purchasers only. Three-year rule continues to apply.

Revenue Bond Financing

No credit allowed if home financed with state/local bond funding.

Purchasers who utilize revenue bond financing can use credit.

Repayment

Yes. Portion (6.67% of credit or $500) to be repaid each year for 15 years, starting with 2010 tax filing.

No repayment for purchases on or after January 1, 2009 and before December 1, 2009

Recapture

If home sold before 15-year repayment period ends, then outstanding balance of repayment amount recaptured on sale.

If home is sold within three years of purchase, entire amount of credit is recaptured on sale. Applies only to homes purchased in 2009.

Termination

July 1, 2009

(But note program changes for 2009)

December 1, 2009

Effective Date

Purchases on or after April 9, 2008 and before January 1, 2009. Repayment to begin for 2010 tax year.

All revisions are effective as of January 1, 2009