May 31, 2016

Published by Novogradac & Company LLP on Tuesday, May 31, 2016 - 1:00pm

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with a recap of a report commissioned by the CDFI Fund that suggests how low-income housing tax credits, new markets tax credits and renewable energy tax credits can drive more investment into native communities. In the low-income housing tax credit section, he briefly covers the House Appropriations Committee’s approved Transportation-HUD funding bill for fiscal year 2017. He then discusses a new bill introduced that would allow homeless students to qualify for low-income housing tax credit housing. In news from HUD, he talks about clarified guidance on utility allowances under the HOME program. He also summarizes the findings of a report by the Office of Inspector General at the Treasury Department on how well California’s state allocation agency complied with Section 1602 requirements. In new markets tax credit news, he provides details of one community development leader’s written testimony urging lawmakers to expand and make permanent the new markets tax credit. In the historic tax credit section, he shares some good news from Maryland, which recently extended the sunset of its state historic tax credit by five years. And he closes out with renewable energy tax credit news, where he discusses a report on how the renewable energy production tax credit extension has opened opportunities for wind energy development.