2003 GENERAL MEMBERSHIP SPONSORS

January                no meeting
February              Kohl Building Products
March                  First National Bank of Penna.
April                    Builder Services Inc.
May                     none
June                     none
September           Dominion Peoples
October               The Long Barn
November            Penelec "A First Energy Company"
December            Christmas Party

If you would like to sponsor a general membership meeting contact Walt Freidhoff at 535-8371. If you would like to sponsor a Northern Cambria meeting contact Al Lieb at 948-9897

GET MONEY BACK

            Builders who have paid contributions in aid of construction (CIAC) to gas and electric companies may be entitled to get some of their money back as a result of benefits to utilities contained in the Bush Administration tax bill.  These changes do not apply to water or sewer service.  Also, builders may pay utilities a smaller amount for CIAC through the end of next year.  This spring�s tax-cut accelerated the depreciation schedules for utilities, thus, reducing their taxes. Builders may not have to pay as much to cover the utility�s income taxes due to CIAC.

            The acceleration is retroactive to Sept. 11, 2001, so builders who have paid CIAC since that date may be entitled to a partial refund from the utility, but not from the Internal Revenue Service.  Several factors will determine whether a builder is entitled to a refund from a local utility, the most important of which is the builder�s contract with the company.  Builders are advised to check with their tax professionals to see if the refund is worth pursing.
Under these changed tax rules, you may not need to pay as much to the CIAC until the end of next year, when many provisions of the 2003 tax act expire.  For more information contact Andrew Holliday at NAHB at 800-368-5242 ext 8488