May 17, 2016

Published by Novogradac & Company LLP on Tuesday, May 17, 2016 - 1:00pm

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off the general news section with a brief recap in of a member day hearing convened last week by House Tax Policy Subcommittee Chairman Charles Boustany. He shares what was said about the low-income housing tax credit, new markets tax credit, historic tax credit and renewable energy tax credits. Then, he provides some information about a hearing scheduled for today on corporate integration. In the low-income housing tax credit section, he outlines a bill introduced to preserve asset management staff at HUD’s multifamily field offices. In other news, he talks about how states should establish maximum per-unit development subsidy amounts for Housing Trust Fund properties. In state affordable housing news, he discusses a bill introduced in Colorado to extend the state low-income housing tax credit by three years. In new markets tax credit news, he shares the latest update from the CDFI Fund on how much qualified equity investment has been issued to-date and the amount remaining to be issued. In the historic tax credit section, he provides more details about how a bill to extend the popular state historic tax credit in Alabama got derailed, leaving the state credit expired for now. And he closes out with renewable energy tax credit news, where he talks about a proposal to create a solar investment tax credit in Minnesota.