March 24, 2020

Published by Michael Novogradac on Tuesday, March 24, 2020 - 1:45pm

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA outlines several COVID-19 relief legislation packages including the recently enacted Families First Coronavirus Response Act (H.R. 6201). He also discusses several proposed bills, including the Coronavirus Aid, Relief and Economic Security Act, or CARES Act (S. 3548), a draft bill from House Speaker Nancy Pelosi and the Financial Protections and Assistance for America’s Consumers, States, Businesses and Vulnerable Populations Act (H.R. 6321) that was introduced by House Financial Services Committee Chairwoman Maxine Waters. Then, he discusses the extension of the tax filing and payment deadlines from the IRS, and investment expansion authorizations from the FHFA and the Federal Reserve. Next he discusses how certain lending activities related to COVID-19 would receive positive Community Reinvestment Act consideration. He also talks about announcements from HUD and the FHFA that would suspend evictions and foreclosures for certain housing and provide mortgage forbearance for multifamily property owners. Next, he discusses a few state-level responses to the COVID-19 pandemic. He wraps up with news on the CDFI Fund notice of guarantee availability for the fiscal year 2020 CDFI Bond Guarantee Program.