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May 27, 2014

Published by Michael J. Novogradac on May 27, 2014, 1 p.m.

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses President Obama’s official nomination of Shaun Donovan to lead the Office of Management and Budget and Julian Castro to lead the U.S. Department of Housing and Urban Development; he also provides an update on the EXPIRE Act. In new markets tax credit news, he shares the names of five new cosponsors for the New Markets Tax Credit Extension Act, testimony on the president’s proposed budget for the Community Development Financial Institutions Fund and the name of a new qualified issuer for the CDFI Bond Guarantee program. In this week’s lowincome housing tax credit section, he summarizes legislation introduced that would create a permanent tax rate floor for both the 9 percent and 4 percent low-income housing tax credits, and discusses fiscal year 2015 funding for rural housing and the Department of Housing and Urban Development, and an increase in compliance fees in Louisiana. In historic tax credit news, he shares a report that suggests that cities that preserve and reuse older, smaller buildings fare better in the long term, and he alerts listeners to a new grant program from the Advisory Council on Historic Preservation. In renewable energy tax credit news, he discusses two amendments recently introduced by Sen. Tom Carper that would extend the 30 percent investment tax credit and clarify that waste heat to power technology qualifies for the investment credit.

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