June 2, 2020

Published by Michael Novogradac on Tuesday, June 2, 2020 - 12:45pm

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA shares an update about two extended continuity safe harbors for renewable energy investment tax credit and production tax credit properties affected by the COVID-19 pandemic. Then, he discusses an announcement from Treasury and the Small Business Administration to set aside funding from the Paycheck Protection program for CDFIs. Next, he talks about the Paycheck Protection Program Flexibility Act of 2020, legislation passed by the House that would provide substantial changes to the Paycheck Protection Program. He then talks about a letter sent from Reps. Terri Sewell and Tom Reed to the IRS requesting temporary suspension of debt modification rules for community development entities. He wraps up by discussing the 2020 funding round for the Capital Magnet Fund.