May 24, 2016

Published by Novogradac & Company LLP on Tuesday, May 24, 2016 - 1:00pm

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general section, where he recaps a corporate integration hearing that was held in the Senate Finance Committee last week and shares important insights from that hearing on the possible adverse effects of corporate - individual income tax integration on investable community development tax credits. In the low-income housing tax credit section, he discusses a bill that was introduced in the Senate last week to increase federal allocations of the low-income housing tax credit by 50 percent. He also provides information on a proposed rule that would affect applicants of HUD’s multifamily and health care programs who have participated in HUD programs before. In other news from HUD, a proposed rule was issued last week that would mandate broadband infrastructure be installed at all HUD multifamily properties during construction. In new markets tax credit news, he reviews details of a recent meeting that was held by the Community Development Advisory Board. Also, as promised last week, in the historic tax credit section, he shares some good news about one southern state that was able to double the authorized funding for its state historic tax credit program. He closes out with renewable energy tax credit news, where he discusses a “beginning of construction” rule update for the renewable energy investment tax credit and production tax credit. He also discusses one state’s bill that would require wind companies to turn over a part of their federal production tax credit to the state.