November 15, 2011

Published by Michael Novogradac on Tuesday, November 15, 2011 - 10:15am

Michael J. Novogradac, CPA, discusses remarks made by Senator Tom Carper regarding the chances for passage of renewable energy tax credit legislation and a project the EPA is conducting to evaluate the feasibility of renewable energy development on Brownfield and Superfund sites. Then, he reviews the contents of a letter sent to all members of Congress last week urging the passage of a tax extenders bill that would, among other things, extend the new markets tax credit. He also discusses the new National Park Service web site for historic preservation tax incentive information and shares an announcement from the National Trust for Historic Preservation. In the lowincome housing tax credit segment, he discusses a recent meeting between the National Housing Trust and the chairman of the Federal Reserve. And finally, at the state level, he reviews the details of a recent appeals court case in Oregon, where the court ruled that a housing credit agency cannot give early release from LIHTC restrictions in case of serious noncompliance and tax credit recapture.