March 14, 2017

Published by Novogradac & Company LLP on Tuesday, March 14, 2017 - 1:00pm

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section, where he talks about a report on what will be included in President Donald Trump’s 2018 federal budget proposal that will be released this week. He also discusses what the Senate majority leader said last week about the timeline for tax reform and how it differs from what was said by Treasury Secretary Steve Mnuchin. In low-income housing tax credit news, he discusses two housing reports. One is from the office of Sen. Maria Cantwell, who introduced the Affordable Housing Credit Improvement Act with Sen. Orrin Hatch last week. The other housing report is by the National Low Income Housing Coalition. After that, he talks about what the District of Columbia is doing to address uncertainty in the low-income housing tax credit equity market. In new markets tax credit news, he provides a cosponsor update on the New Markets Tax Credit Extension Act of 2017. He closes out with the historic tax credit section, where he shares some important guidance issued by the National Park Service about functionally related buildings in multiple-building projects. He also gives highlights of the annual National Park Service report on the historic tax credit, including a record that was set in 2016. And he concludes with information about a Nebraska LB 475, a bill introduced to end the state historic tax credit.