Indiana Attorney General Greg Zoeller joined 41 other attorneys general recently to ask Congress to extend soon-to-be expired tax relief for distressed homeowners.
Under the federal Mortgage Debt Relief Act, in effect since 2007, mortgage debt that is forgiven after a foreclosure or short sale or through a loan modification may be excluded from a taxpayer’s calculation of taxable income. This exclusion only applies to mortgage debt forgiven on primary residences, not second homes, and is set to expire on Dec. 31.
“We believe if Congress does not extend this critical tax exclusion into next year, struggling homeowners and the slowing improving housing market will take a setback,” Zoeller said. “Failure to act means Hoosier homeowners who have received mortgage debt relief could be hit with a tax bill they simply can’t afford.”
An extension for 2014 is included in the Mortgage Forgiveness Tax Relief Act (S. 1187 and H.R. 2788), both of which are in committee; it is uncertain when these critical bills may be considered. The current Ryan-Murray budget proposal does not include the exemption provision.
Zoeller said the expiration comes at a time when the housing market, while still fragile, has shown signs of gradual improvement over the last year. Data shows that home prices have increased this year, and the S&P/Case-Shiller home price index reported gains of 12 percent or more. CoreLogic has also estimated that 2.5 million more families have had their homes returned to positive equity in the second quarter of 2013.
Last year, Zoeller joined 41 other attorneys general in successfully persuading Congress to extend these benefits into 2013.
Click here to view the letter sent by attorneys general to Congress.

EVSC School Grades See Improvements

Fifty-one percent (18) schools in the Evansville Vanderburgh School Corporation again received an “A” or showed improvement in Indiana’s 2012-13 accountability grading system. School grades were made official during today’s State Board of Education meeting.

Beginning with the 2010-11 academic year, the State Board of Education changed the labels for school categories based on student performance from the terms Exemplary, Commendable, Academic Progress, Academic Watch and Academic Probation to letter grades (A, B, C, D and F).

Thirty-seven percent of EVSC schools showed improvement by one or more letter grades this year. Nine schools increased their ranking by two or more grades. Helfrich Park STEM Academy increased by three letter grades to a “B” and Tekoppel Elementary increased by three grades to an “A.”

Superintendent David Smith said that he credits the work of teachers in the EVSC and the corresponding work of their students for the gains made in just one year. In recent years, the EVSC has strengthened its dedication to providing rigorous and challenging curriculum for high achieving students, and begun a focused intervention program for those who struggle. “We know that high functioning teams with a focus on a rigorous common curriculum, engaging differentiated instruction, common assessments, and data driven interventions will ensure that each student will reach their maximum potential,” Smith said. “Great people working together can do extraordinary things.”

Velinda Stubbs, chief academic officer, said the EVSC Administration is very proud of teachers’ work. “The increases in grades are a direct reflection of their dedication to our students and new initiatives that have been undertaken,” Stubbs said. “The numbers of schools receiving an “A,” “B,” or “C” has increased by 8, for a total of 23 of the EVSC schools. And, furthermore – those schools who received a failing grade last year, have been reduced by nearly half in one year.”
School grades for EVSC schools are:

El/MiddleSchool 2013 2012
Caze Elem. F F
Cedar Hall D F
Cynthia Hts A A
Daniel Wertz C F
Delaware B C
Dexter Elem. F F
Evans Middle F F
Fairlawn C F
Glenwood F F
Harper B D
Hebron B C
Helfrich Park B F
Highland A A
Lincoln F F
Lodge F F
McGary F F
North JHS C F
Oak Hill A A
Perry Heights D C
Plaza Park C C
Scott Elem. A A
Stockwell C F
Stringtown D D
Tekoppel A D
Thompkins D D
Vogel Elem. C D
Washington F F
West Terrace C C

High Schools 2013 2012
Bosse High C C
Central High B C
Harrison C C
North High B B
Reitz High B B
New Tech B D
AIS- HS F F

Holli Sullivan is announcing her candidacy to be the next representative for Indiana House District 78.

“We have been very fortunate to have had the leadership of Suzanne Crouch for the last 8 years and I plan to continue that leadership for the citizens of HD 78,” said Sullivan.

Sullivan has a history in public service. Sullivan is a 2010 graduate of the Richard G Lugar Excellence in Public Service Series. She founded and served as President of the political group Women Right of Center which has been active in providing information to the voting public on issues and candidates. She has served on a local level as a member of the Vanderburgh County Central Committee and the Minority Women’s Business Enterprise Board. Holli has also served on a state level as a member of the Joint Workforce Investment Board.

“Our next state representative will need to be someone that can hit the ground running, both as a legislator and a candidate. My strong work ethic, relationships with current legislators and ability to work with others to resolve problems will be essential to representing our district this year. I am also well suited to run a strong campaign in the fall as I have served on the election committees of numerous local and state candidates,” said Sullivan.

Sullivan is a graduate of Castle High School and currently lives on the north side of Evansville with her husband Chad and her three children, Dalton, Savannah and Sawyer. Holli and her family are members of Family Bible Church. Holli, an Industrial Engineer, worked for General Motors and Toyota and most recently as a consultant for the University of Southern Indiana’s Center for Applied Research.