February 7, 2017

Published by Michael Novogradac on Tuesday, February 7, 2017 - 1:00pm

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about the confirmation status of Treasury Secretary nominee Steve Mnuchin. He also discusses congressional support for keeping the tax-exempt status of municipal bonds. Then, he discusses the Joint Committee on Taxation’s estimates of expenditures for fiscal years, 2016-2020–including estimates for the low-income housing tax credit, new markets tax credit, historic tax credit and renewable energy tax credits. In low-income housing tax credit news, he shares information about Utah H.B. 36, a bill that would nearly triple Utah’s state low-income housing tax credit annual program cap. In new markets tax credit news, he talks about the Investing in Opportunity Act, a bill reintroduced in Congress that would allow taxpayers to defer capital gains taxes on investments in opportunity zones. He also tells listeners about two reports on native communities and their access to capital and credit. In the historic tax credit section, he shares why the Advisory Council on Historic Preservation’s chairman is endorsing the historic tax credit and what his support could mean for the program in tax reform.