December 20, 2011

Published by Michael Novogradac on Tuesday, December 20, 2011 - 12:00pm

Michael J. Novogradac, CPA, discusses the status of tax extenders negotiations in Congress. Then he reviews legislation to make permanent the 9 percent tax credit percentage floor for the low-income housing tax credit, the National Council of State Housing Agencies’ updated LIHTC and Underwriting Recommended Practices, and an update on the status of HUD’s Rental Policy Working Group. Then, he discusses a letter urging House leaders to extend the New Markets Tax Credit program. He also summarizes remarks made by Congressman Richard Neal on the House floor in support of the new markets tax credit. Next, he shares an update on the Historic Boardwalk Hall case, and refers listeners to an interesting blog post about two baseball stadiums differing experiences with the historic preservation process. Finally, he discusses Treasury’s most recent Section 1603 guidance, a study on the impact of the production tax credit on the U.S. wind market, a Senate Finance Subcommittee hearing on renewable energy tax incentives, and a policy change at the Department of Defense that is expected to make it easier to develop renewable energy projects with the military.