Tax Credit Tuesday Podcasts

Each Tax Credit Tuesday, Novogradac & Company LLP's audio broadcast offers an in-depth weekly look at tax credit topics. A new episode is posted here and on the RSS Feed by 1 p.m. Pacific Time every Tuesday.

Published by Michael Novogradac on October 15, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, gives an update for the IRS priority guidance plan for 2019-2020. Then talks about Brian Montgomery’s expected nomination for HUD Deputy Secretary, and shares an update on the fourth revision to the Rental Assistance Demonstration Program. Next he talks about opportunity zone news including anticipated opportunity zones regulations updates, a HUD-proposed opportunity zones certification form and funding granted by the Department of Education to help schools in opportunity zones. He then talks about the 2019 Novogradac Opportunity Zones Fall Conference, and the housing plans of two Democratic presidential candidates, Michael Bennet and Beto O’Rourke. He discusses HUD’s shutdown contingency plan and the establishment of an expedited review process for relief requests from HUD requirements for public housing agencies in major disaster areas. He also talks about the Rural Housing Preservation Act of 2019. Finally, he shares two updates from the state of California on the state historic tax credit and final proposed regulations for the California state LIHTC.

Published by Michael Novogradac on October 8, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about draft forms and instructions for forms 1040 and 1099-B relating to opportunity zones, and the White House Opportunity and Revitalization Council’s website for stakeholders that launched last week. Then he provides an update on when we can expect updated regulations for opportunity zones to be released, and mentions that issues concerning updated regulations have been discussed in a blog post and will be discussed in an upcoming conference. Next he shares highlights from the Novogradac 2019 Credit and Bond Financing for Affordable Housing Conference including Developments of Distinction award winners and important information from panel discussions and sessions including a case study of the average income test. After that, he discusses new model forms for state compliance agencies released by the National Council of State Housing Agencies, and upgrades in how much Freddie Mac and Fannie Mae can retain in capital reserves as a step towards moving them out of conservatorship. Then, he talks about the updated new markets tax credit application and FAQ released by the CDFI Fund, and legislation that was introduced to reinstate the Section 45L credit that expired at the end of 2017. Finally, he talks about a Wisconsin bill that was introduced to increase the tax benefit for investors in qualified opportunity funds.

Published by Michael Novogradac on October 1, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the stopgap funding bill that prevented a government shutdown and will keep the government funded through Nov. 21. Then he shares highlights from the Novogradac 2019 Historic Tax Credit Conference in St. Louis, including insights from Sen. Bill Cassidy’s keynote address. After that, he discusses the summary of the annual historic tax credit investment report by Rutgers University and the National Parks Service, and shares guidance updates from the IRS on the Section 199A deduction. He then shares insight on the draft IRS Form 8997 for opportunity fund investments, and news on HUD and FHA incentives for hospitals and care facilities in opportunity zones. Next, he discusses a comment letter that was submitted by a group of state economic development officials to the IRS on proposed rules for investing in qualified opportunity funds. Finally, he shares news on amendments to the Missouri state historic tax credit program.

Published by Michael Novogradac on September 24, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about Congressional efforts to avoid a government shutdown on Oct. 1. After that, he shares details on proposed appropriations funding for HUD for fiscal year 2020, then provides an update with details about the Novogradac Opportunity Funds Listing. He also talks about HUD’s proposed rule change to implement provisions of the Housing Opportunity Through Modernization Act, shares what cities received Choice Neighborhoods awards, and provides an update about an IRS notice providing relief for low-income housing tax credit properties in areas of California hit by last year’s wildfires. He also shares about a California state historic tax credit and efforts in Michigan to promote opportunity zones.

Published by Michael Novogradac on September 17, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about Congressional efforts on a continuing resolution bill to fund the federal government past the Sept. 30 deadline. After that, he’ll talk about a hearing on housing reform finance plans, followed by a discussion of three bills: one to encourage property sales to public housing authorities, one to incentivize building more housing near transit and another to expand and extend the energy-efficient new home credit. He’ll also share insight on final regulations on 100 percent expensing under Section 168(k), as well as information about updated certification requirements for the CDFI program and the Native American CDFI Assistance applicants. He’ll close with information from California on opportunity zone conformity legislation, a rent control bill that passed the legislature and a survey on the state’s expanded low-income housing tax credit.

Published by Michael Novogradac on September 10, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about a plan by House Democrats to consider a continuing resolution to avoid a government shutdown at the end of this month. After that, he’ll discuss Treasury and HUD’s housing finance reform plans for Fannie Mae and Freddie Mac. Then, he’ll share details about a long-awaited notice from HUD that revises and expands its Rental Assistance Demonstration program, followed by news on the opening of the 2019 new markets tax credit allocation round. He’ll also talk about updated opportunity zones frequently asked questions, a request for comment from the Commerce Department on opportunity zones and some analysis on fiscal year 2020 fair market rents. That’s followed by some brief news on Cross Refined Coal LLC and USA Refined Coal LLC vs. the Commissioner of Internal Revenue, a recent tax court ruling that may have implications for tax credit incentive investments. And, he’ll close with the status of California A.B. 10, a proposal to authorize an additional $500 million in state low-income housing tax credits annually for five years.

Published by Michael Novogradac on September 3, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the latest report from the Senate Finance Committee’s Tax Extenders Task Forces, which includes feedback on extension of the new markets tax credit. He also shares an update on cosponsors for the New Markets Tax Credit Extension Act and the Affordable Housing Credit Improvement Act, as well as an overview of the U.S. Department of Housing and Urban Development’s release of fiscal year 2020 fair market rents. He closes out by sharing information about Treasury’s fourth-quarter update on its 2018-2019 priority guidance plan, an upcoming meeting for the CDFI Fund’s advisory board and a grant program to provide incentives for opportunity zones investments in New Mexico.

Published by Michael Novogradac on August 27, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the fall schedule of Novogradac tax incentive conferences, including agenda highlights, keynote speakers and preconference workshops. He also shares news about a bill that would extend the production tax credit for some renewable energy technologies, as well as a HUD demonstration program for physical inspection of real estate. He closes out by discussing proposed changes to California’s state regulations for the low-income housing tax credit, a bill that would have California partially conform to the Internal Revenue Code concerning opportunity zones investments and guidance about the Kentucky state historic tax credit.

Published by Michael Novogradac on August 20, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the first three reports by the Senate Finance Committee’s Tax Extenders Task Forces. He also shares news about recent IRS guidance on bonus depreciation (Rev. Proc. 2019-33) and on California’s massive investment in affordable housing through its annual budget. He closes out with a HUD proposed rule on the disparate impact standard and the announcement of new directors for the California Tax Credit Allocation Committee and California Debt Limit Allocation Committee. 

Published by Michael Novogradac on August 13, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the potential timing of the opening of the next round for the new markets tax credit. He also discusses when Treasury might finalize opportunity zones regulations. He closes out with HUD’s announcement that the Federal Housing Administration will insure mortgages on mixed-use development in opportunity zones.

Published by Michael Novogradac on August 6, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the budget and debt limit agreement becoming law and what’s next for Congressional appropriators. He also discusses the status of the Senate Finance Committee’s tax extenders task forces and when their findings might be released, as well as what Democrat presidential candidates have to say about affordable housing and renewable energy. He closes out with an update on the new Congressional district fact sheets from the ACTION Campaign and a legal opinion on the state historic tax credit from the Arkansas Department of Finance and Administration.

Published by Michael Novogradac on July 30, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about what the House spending and debt limit agreement could mean for tax extenders. He also discusses the Renewable Energy Extension Act and a bill to extend the Community Development Block Grant-Disaster Recovery program indefinitely. He then closes out with news on a remediation bill for properties in opportunity zones, legislation to strengthen inspection standards for HUD-subsidized properties, a HUD memo for owners and managers of multifamily properties and state-level updates on opportunity zones investments in Ohio and certain historic tax credit investments in Rhode Island.

 

Published on July 23, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the agreement on discretionary spending levels and debt limit suspension [1:26}. He also discusses guidance issued last week by the Securities and Exchange Commission and the North American Securities Administrators Association concerning investments in opportunity zones [6:59]. He moves on to IRS final regulations about Section 50(d) income [9:49]. He then closes out with news on a New Markets Tax Credit Coalition report, the ADVANCE Act of 2019, a new chapter in the HUD Housing Choice Voucher Guidebook, an advocacy letter to Congress asking to extend the investment tax credit and Pennsylvania conforming to the Internal Revenue Code for OZ investments [11:42].

 

Published by Michael Novogradac on July 16, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the timing of a possible tax extenders vehicle [2:10] and the introduction of a bill to make the Community Development Block Grant-Disaster Recovery program permanent [4:22]. After that, he has a recap of the Treasury’s hearing last week on proposed opportunity zones regulations [6:05]. He closes out this week’s podcast with a couple of state-level tax incentive updates: one from Hawaii and the other from Rhode Island [15:08].

Published by Michael Novogradac on July 9, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the schedule for Congress, some upcoming deadlines and how those deadlines affect possible tax extenders [1:38]. Then, he touches on an important Treasury hearing occurring today [7:20]. After that, he provides updates on several items, including an important memo from the IRS, news from the National Park Service and state-level information from West Virginia and Delaware [9:03].

Published by Michael Novogradac on July 2, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about a new White House council to address affordable housing barriers [01:50]. Then he outlines a bill designed to apply on a retroactive basis to low-income housing tax credit properties, in an effort to mitigate the removal of rent restrictions [2:27]. After that, he discusses bipartisan legislation to authorize an additional $500 million in new markets tax credit allocation authority annually for certain rural communities in 2019 and 2020 [07;03]. He then shares cosponsor updates on legislation to make the new markets tax credit permanent [08:39], as well as news about opportunity zones and opportunity funds [11:09]. After that, he has updates on several items, including the state of the nation’s housing, the Capital Magnet Fund, a renewable energy bill and news from several states on opportunity zones, low-income housing tax credits and new markets tax credits [12:28].

Published by Michael Novogradac on June 25, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about how Ways and Means Committee Democrats are proposing a tax-extenders package. He also discusses the IRS updating its Opportunity Zones Frequently Asked Questions page to address Section 1231 gains invested in 2018 [2:25]. He then moves on to the effort by Senate Democrats to extend the renewable energy investment tax credit [8:02]. Next, he talks about a report on the persistent gap between renters’ wages and the cost of rental housing [9:07]. After that, he outlines a proposal to create a new single-family housing tax credit [11:07]. He closes out with the latest qualified equity investment issuance report from the CDFI Fund, and some news from Michigan and West Virginia and how proposed legislation could increase opportunity zones investments in those states [13:16].

Published by Michael Novogradac on June 18, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares an update on the status of a House Democrat-led tax extenders package [1:37]. Then, he has news about an opportunity zones extension bill [4:05] and a decision to make opportunity zones an investment priority for the U.S. Economic Development Administration [5:37]. Next, he summarizes a couple of comment letters on proposed opportunity zones regulations [6:28]. He also shares the Federal Housing Finance Agency’s latest report to Congress and the status of housing finance reform efforts [8:28]. He closes out with state legislative news and an update on the inflation adjustment for calculating the wind production tax credit [10:00].

Published by Michael Novogradac on June 11, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about Novogradac’s 2019 NMTC Spring Conference [1:50], as well as provides an update on the Affordable Housing Tax Credit Improvement Act [6:44]. He also discusses information about a proposed change in how HUD calculates fair market rents [8:31]. He closes with updates on some federal budget items and state-level news from Nevada, Louisiana, Minnesota and Alabama [11:04].

Published by Michael Novogradac on June 4, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about reintroduction of the Affordable Housing Credit Improvement Act, a bipartisan bill that would improve and expand the low-income housing tax credit [1:29]. He also talks about the latest news on privatizing Fannie Mae and Freddie Mac [6:33]. Then, he shares brief news on HUD’s proposal to revise information collected for its low-income housing tax credit database [7:50]. He closes out with state news from Alabama and California [8:12].

Published by Michael Novogradac on May 28, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, covers the 15th round of new markets tax credit allocation awards [2:23] and provide highlights of the recent renewable energy tax credit conference in San Francisco [5:16]. He then shares updates on proposed spending legislation for HUD [9:19], as well as disaster relief legislation [10:54], and the status of the Senate Finance Committee’s task forces on temporary tax provisions [11:46]. He closes with state news from West Virginia, Alabama, North Carolina and South Carolina [12:58]. 

Published by Michael Novogradac on May 21, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the current status of federal government budget negotiations [2:17] and the announcement of Senate Finance Committee task forces on tax extenders [4:26]. He then talks about the introduction of the Historic Tax Credit Growth and Opportunity Act (HTC-GO) in the House [9:25], as well as the introduction of the Renewable Energy Transferability Act, a bill to make the renewable energy tax credit accessible to more investors [11:49]. He has an update on housing finance reform [12:55]. He also shares brief news from HUD on identifying former tenants who owe a debt to a public housing agency. Then, he has news about the 2019 round of the Capital Magnet Fund. After that, he discusses opportunity zones legislation in Puerto Rico, low-income housing tax credits in Colorado and Missouri, and state historic tax credits in Georgia [13:58].

Published by Michael Novogradac on May 14, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with House passage of a disaster relief bill that includes $2.2 billion in community development block grant-disaster recovery funding [2:23]. He also has news about an opportunity zones reporting bill [4:07] and legislation to replace current renewable energy tax credits with new technology-neutral credits [5:49]. He also talks about a hot topic that affects housing finance agencies, low-income housing tax credit property owners, and likely, the tenants of those properties [6:56]. He also has brief news from HUD on eligibility for housing assistance and guidance on calculating the over-income limit for public housing. Then, he touches on opportunity zones news related to a Freddie Mac report and to Federal Housing Administration affordable housing incentives. After that, he will have updates from various states relating to state LIHTCs, historic tax credits and linking state incentives with federal opportunity zones [10:04].

Published by Michael Novogradac on May 7, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares an update from the 2019 Affordable Housing Conference Novogradac hosted last week in San Francisco [3:03]. He also shares highlights and key takeaways from last week’s House Financial Services Committee hearing that examined the infrastructure needs of the country’s affordable housing stock [7:43]. He will also talk about the latest updates for the Novogradac Rent and Income Limit Calculator©. He closes out with news on the New Markets Extension Act of 2019, as well as some information on the latest state tax credit bills [10:16].

Published by Michael Novogradac on April 30, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares an update from last week’s opportunity zones conference that Novogradac hosted in Denver. He will summarize what’s next for the opportunity zones community including what the next steps may be for the Treasury Department. He will also share highlights and key takeaways from last week’s release by HUD of the 2019 income limits and what those new limits might mean for your low-income housing tax credit property.

Published by Michael Novogradac on April 23, 2019

In this Special Opportunity Zones Edition of the Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, highlights key points from Treasury’s second tranche of opportunity zones guidance. Categories include operating businesses, investors, fund operations, real estate and open items.

Published by Michael Novogradac on April 16, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares some news about disaster tax relief legislation [3:03] and new markets tax credit permanence legislation [4:21]. Next, he talks about how the Department of Education is planning to spur investments in charter schools in conjunction with opportunity zones [5:26]. He also has an update on the status of tax extenders in Congress [6:29] and a new energy storage investment tax credit bill [7:18]. Then, he briefly shares some IRS plans to issue guidance on the low-income housing tax credit, historic tax credit and new markets tax credit. He also provides an update on the amount of qualified equity investment issuance that has been finalized through the new markets tax credit. After that, he talks about state incentives to drive opportunity zones and historic tax credit investments [8:07]. 

Published by Michael Novogradac on April 9, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about confirmation of the new FHFA Director Mark Calabria and allocations to the Housing Trust Fund and Capital Magnet Fund [2:27]. He also recaps the first meeting of the White House Opportunity and Revitalization Council and how federal agencies are aligning initiatives with opportunity zones [4:46]. After that, he will discuss the Disaster Opportunity Zones Act, a bill that aims to spur disaster recovery through opportunity fund investments [8:26]. Then, he will share an IRS Revenue Procedure 2019-17, which clarifies a major question about bond-financed housing for special populations [10:59]. Then he briefly shares some news the Housing the Homeless Students Act of 2019 to allow formerly homeless students to live in low-income housing tax credit and HUD Section 202 funded housing. He also talks about congressional support for extending renewable energy tax credits. He closes with state legislative news from West Virginia, Ohio and Mississippi [12:35].

Published by Michael Novogradac on April 2, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the timing of the release of the 2019 income limits for tax credit and bond financed housing [1:46], a Trump administration memo calling for housing finance reform [2:37], a summary of key congressional hearings [5:38] and forthcoming legislation on opportunity zones reporting requirements [7:46]. He also shares, brief news on new markets tax credit extender legislation cosponsors, an updated FAQs document on new markets credit compliance, federal opportunity zones and homelessness prevention bills and some state bills designed to increase private investment in community development [12:51]. 

Published by Michael Novogradac on March 27, 2019

Special Edition of the Tax Credit Tuesday Podcast

Published by Michael Novogradac on March 26, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares news on House and Senate hearings on disaster recovery [2:09], tax reform and housing finance reform. He also has an update on the status of the nomination of Mark Calabria as the next Federal Housing Finance Agency director [4:36]. He talks about when Congress may consider tax extender and disaster relief legislation [5:40]. Then, he highlights certain key issues he’s hoping will be addressed in opportunity zones guidance that could help increase investment in underserved areas [7:11]. After that, he has some brief news relating to veteran housing and private activity bonds, low-income housing tax credit and private activity bond allocations for 2019 and HUD inspections. He closes with some state efforts to increase community development and historic preservation investments through tax incentives [12:39].

Published by Michael Novogradac on March 19, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares news of when listeners could expect the next tranche of opportunity zones guidance [2:35]. He also discusses which housing and community development programs the White House 2020 budget request proposes to cut [8:28]. He has new markets tax credit extenders legislation news [12:10] and program updates [15:27], as well as news about a reintroduced bill that could fund 3.2 million new homes for low- and middle-income families over 10 years [18:15]. After that, he shares some brief news including some state-level legislative updates that could attract more affordable housing, community development and renewable energy investment in those states [19:29].

Published by Michael Novogradac on March 12, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares the latest legislative efforts to extend and expand the new markets tax credit [2:04]. He also talks about a bill to create infrastructure bonds and infrastructure tax credits [8:20], as well as the status of proposals to expand the renewable energy investment tax credit to include energy storage [9:25]. There is also an upcoming hearing on proposed regulations for the base-erosion and anti-abuse tax, or BEAT for which he will share details [10:38]. He also has an important update on the status of certain historic preservation certification applications under review by the National Park Service [12:12]. He closes with state legislation updates on various tax incentives that could help increase private investment in those states [13:12].

Published by Michael Novogradac on March 5, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares news about the status of tax extenders and what that could mean for the need to extend 2018 returns [2:12]. He also talks about financing infrastructure reform [7:31] and details about released utility allowance regulations for LIHTC properties [9:41]. From there, he has a brief update on what the confirmation of a new IRS chief counsel means for future tax regulation [11:54]. He also touches on an upcoming affordable housing hearing that could spotlight the Affordable Housing Credit Improvement Act, a LIHTC bill that could be reintroduced soon [13:23]. After that, he discusses how the White House fiscal year 2020 budget proposal could propose cutting HUD and USDA housing program funds. He also has some announcements from HUD on the inclusion of Section 202 contracts in the Rental Assistance Demonstration program and the expected announcement of Housing Trust Fund allocations. He closes with some state news regarding opportunity zones as well as the LIHTC [14:24].

Published by Michael Novogradac on February 26, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, has news about a high-profile stop on Sen. Tim Scott’s Opportunity Tour, a tour that highlights the opportunity zones tax incentive [2:12]. He also shares news regarding HUD’s announcement last week of an expanded pilot debt program for low-income housing tax credit properties [5:22], as well as a significant shortening of the notification period before a HUD physical inspection [7:57]. After that, he talks about the Senate Banking Committee’s consideration of key nominations, including that of Mark Calabria as the head of the Federal Housing Finance Agency. He also discusses some delayed CDFI Bond Guarantee deadlines. He closes with several state-level updates about low-income housing tax credit, historic tax credit and opportunity zones legislation [8:39].

Published by Michael Novogradac on February 19, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the enacted appropriations bill for fiscal year 2019 [1:49], last week’s opportunity zones hearing [4:17] and announcements from the CDFI Fund [8:32, 10:12]. He closes with the nomination of Mark Calabria as head of the FHFA, as well as a summary of three introduced state tax bills [10:45].

Published by Michael Novogradac on February 12, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, will start with a brief update on efforts to prevent another government shutdown [1:20], as a tentative agreement was reached last night. From there, he shares an overview of two important upcoming IRS [3:38] and congressional hearings [7:19], an update on potential infrastructure financing reform [11:51] and a brief tidbit on a recent summary judgement ruling in a low-income housing tax credit disparate impact case [13:12]. He closes with opportunity zones news from New York and low-income housing tax credit news from California [15:39].

Published by Michael Novogradac on February 5, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with a brief summary of how federal agencies are working to minimize the effects of the government shutdown on affordable housing, community development and historic preservation incentives [3:07]. He then shares an update on a possible legislative vehicle for extending many expired tax provisions, known as tax extenders [11:05]. He follows with news on housing finance reform [13:21]. He closes with news about updated national median income estimates and a request to the IRS to clarify a certain use of multifamily private activity bonds [16:40].

Published by Michael Novogradac on January 29, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses an agreement to temporarily reopen the federal government, a letter sent to Treasury by the co-sponsors of the Investing in Opportunity Act, a proposal to index capital gains for inflation and highlights from the Novogradac new markets tax credit conference last week. He also shares news about a new House Ways and Means subcommittee on special national interests, an important affordable housing report and introduced legislation to create state tax incentives.

Published by Michael Novogradac on January 22, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares a congressional letter on how the government shutdown is affecting affordable housing [1:38], updates on the membership of the House Ways and Means Committee [3:27] and the House Financial Service Committee [5:10], news on reforming Fannie Mae and Freddie Mac [6:11], details of an infrastructure bill [7:58], and news on the re-nomination of Michael Desmond as IRS chief counsel and Treasury assistant general counsel [10:37]. He also talks about state legislation news about opportunity zones, affordable housing and historic preservation [12:26].

Published by Michael Novogradac on January 15, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses new members of the House Ways and Means Committee [2:01], provides an overview of how the government shutdown is affecting various housing and community development programs [3:43], and shares some insights from the Novogradac housing conference in Miami [7:42]. He also has a brief update on California state news on opportunity zones and affordable housing, as well as news about the Solar EDGE Act, a bill to temporarily increase the renewable energy investment tax credit [13:24].

Published by Michael Novogradac on January 8, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares an update on the government shutdown [1:58], discusses proposed funding for Treasury and HUD, talks about Congressional committee roles and assignments [8:04], and goes over updates on FHFA leadership [11:29] and duty to serve plans for Fannie Mae and Freddie Mac [12:56]. He also has brief news on opportunity zones, IRS regulations and a new markets tax credit report [14:06].

Published by Michael Novogradac on December 18, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about Congressional committee assignments and leadership changes at the CDFI Fund, FHFA, HUD and Treasury [2:05]. He discusses opportunity zones news [11:13] and proposed regulations for the base-erosion and anti-abuse tax [15:15]. He also provides a brief update on a Montana state low-income housing tax credit proposal and the latest qualified equity investment report from the CDFI Fund [18:38].

Published by Michael Novogradac on December 11, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, will talk about stop-gap funding for the federal government, the prospects of a “skinny” tax bill, a new co-chairman for the Municipal Finance Caucus and potential changes at Treasury and HUD. He will also discuss a bill to create an affordable housing task force, share a new opportunity zones related resource, as well as outline a report on state historic tax credits.

Published by Michael Novogradac on December 11, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, will talk about stop-gap funding for the federal government and the prospects of a “skinny” tax bill [1:24], a new co-chairman for the Municipal Finance Caucus [3:59] and potential changes at Treasury and HUD [5:16]. He will also discuss a bill to create an affordable housing task force [6:22], share a new opportunity zones related resource [8:08], as well as outline a report on state historic tax credits [9:12].

Published by Michael Novogradac on December 4, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about a potential stop-gap funding bill [1:53], the House Republicans’ tax bill [2:31], proposed regulations on the business interest deduction limit  [6:14] and requested guidance on opportunity zones [8:20]. He also recaps affordable-housing-related opportunity zones issues discussed at the Novogradac conference last week [12:46]. Then, he provides a brief update on amended regulations for the Affordable Housing Program and an announcement about the CDFI Fund’s Capital Magnet Fund [17:53].

Published by Michael Novogradac on November 27, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the race for House Speaker [2:16], the Joint Committee on Taxation’s explanation of the 2017 tax law [3:51], the 2018 national pool of low-income housing tax credits [5:42] and the final rule for the Affordable Housing Program [8:41]. He also provides a brief update on operating cost adjustment factors for project-based assistance Section 8 contracts in 2019 [11:41].

Published by Michael Novogradac on November 20, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about congressional leadership [1:59] and tax-writing committee assignments in the next Congress [3:23], priorities for the lame-duck session [5:20] and a bill that could expand areas eligible to be opportunity zones, the Hurricanes Florence and Michael and California Wildfire Tax Relief Act (S.3468) [8:01]. He also discusses state low-income housing tax credit caps for 2019 [8:45] and he shares a couple of announcements from the CDFI Fund [10:42]. He also provides brief updates related to affordable housing [14:03].

Published by Michael Novogradac on November 13, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about leadership for the next Congress and what could be coming in the lame-duck session of Congress. He also shares some highlights from the Novogradac Financing Renewable Energy Tax Credits Fall Conference, as well as gives some updates about affordable housing, community development and the Treasury Department.

Published by Michael Novogradac on November 7, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, hosts a special mid-term election edition of Tax Credit Tuesday. Today’s special edition podcast will focus on the election results and how they affect the various tax credit communities. More specifically, he looks at what the election results could mean for congressional leadership positions, as well as leadership and membership changes in key House and Senate committees. He also talks about legislative priorities we can expect to see in the lame-duck session and in the new Congress.

Published by Michael Novogradac on October 30, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the upcoming lame-duck session of Congress and what it could mean to tax credit communities [2:27]. He then talks about some opportunity zones news [6:24], as well as recent California guidance affecting some investors in low-income housing tax credit properties [8:18]. He also touches on a two Freddie Mac low-income housing tax credit impact reports and state historic tax credit updates from New Jersey and Minnesota [9:58].

Published by Michael Novogradac on October 23, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the first major tranche of guidance on opportunity zones [1:23]. He then shares highlights of the Novogradac 2018 New Markets Tax Credit Fall Conference last week in Austin, Texas. He then provides a few updates on other issues, including HUD 2019 QCTs and DDAs, the Seniors Affordable Housing Tax Credit Act (S. 3580), emergency temporary housing  and a sponsor milestone for the New Markets Tax Credit Extension Act of 2017 (H.R. 1098).

Published by Michael Novogradac on October 16, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, provides an update on opportunity zones regulations [1:42]. He also talks about a draft tax form for claiming the historic tax credit [3:25], the congressional election recess [6:47], state fact sheets on the importance of the low-income housing tax credit [8:47] and the Senior Affordable Housing Tax Credit Act (S. 3580) [11:18]. He closes with other topics such as support for the historic tax credit among November election candidates and a filing extension for taxpayers affected by Hurricane Michael [11:57].

Published by Michael Novogradac on October 9, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares an update on opportunity zones regulations. He also shares highlights from the Novogradac opportunity zones and affordable housing conferences last week. Other topics he will discuss include Fannie Mae’s proposal to re-enter the low-income housing tax credit equity market, guidance on the Housing Trust Fund and the latest qualified equity investment issuance report from the CDFI Fund.

Published by Michael Novogradac on October 2, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about a continuing resolution signed last week [1:53] and the latest on Tax Reform 2.0 legislation [2:45]. He also goes over what was discussed last week at the Novogradac 2018 Historic Tax Credit Conference in Nashville [7:35]. He closes with some significant updates on cosponsors for important legislation, as well as several federal bills introduced last week [10:01].

Published by Michael Novogradac on September 25, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, will discuss the swearing in of Charles Rettig as IRS Commissioner [1:35], as well as a request for IRS guidance on energy investment tax credit technologies [2:09]. Then he moves on to a private-activity bond issuance report [3:21], CDE Certification Applications [7:09] and a new proposal for a distressed zone tax credit [8:03]. He closes with a HUD milestone, a state low-income housing tax credit bill and some announcements from the CDFI Fund [9:32].

Published by Michael Novogradac on September 18, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks more about Tax Reform 2.0 [1:56], the confirmation of new IRS Commissioner Charles Rettig [5:09], as well as progress toward opportunity zones regulations [6:01]. Next, he talks about the national volume cap report for private-activity bonds. He closes with Ohio state opportunity zones news, income limit estimates, a HUD notice on regulatory relief and an update on a California energy bill [9:42].

Published by Michael Novogradac on September 11, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses Tax Reform 2.0 could mean for various tax credit communities [3:16]. He also provides an update on the confirmation of a new IRS commissioner [5:22], as well as a letter the U.S. Conference of Mayors sent to Treasury requesting guidance on the opportunity zones incentive [6:22]. Then he shares a brief report on the recent House committee hearing on the cost of multifamily housing development regulations. After that, he talks about a report released by the National Council of State Housing Agencies on the cost of developing LIHTC properties [11:03]. Next, he reviews a recent house hearing on efforts to reform or unwind Fannie and Freddie [16:37], as well as FY 2019 fair market rents [19:28]. Before closing, he shares rural housing news and announcements from HUD and the CDFI Fund [23:09].

Published by Michael Novogradac on September 4, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts this week’s podcast off with an assessment of possible timeframes when Congress might consider acting on a second round of tax reform [2:11] and the possibility of executive action to index capital gains for inflation [4:27]. Next, he focuses on financial institutions with a review of the opportunity for comment on ways to improve Community Reinvestment Act regulations [7:27], as well as an upcoming House Financial Services Committee hearing on the cost of multifamily housing regulations [9:52]. Next, he discusses HUD news, notably news about fiscal year 2019 fair market rents [12:07]. He closes out with an overview of a new Novogradac blog post that addresses common misconceptions about the low-income housing tax credit, and news about state legislation in California that could mean an increase in renewable energy property development over the next few years [14:20].

Published by Michael Novogradac on August 28, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses affordable housing legislation recently introduced in Congress: the Middle-Income Housing Tax Credit Act of 2018 [2:11] and the Rent Relief Act of 2018 [5:47]. Then, he discusses the new Section 199A deduction created under the 2017 tax reform legislation [8:07]. After that, he shares other headlines that include efforts to overhaul the Community Reinvestment Act, an interim rule that could result in lower interest rates on housing bond debt and a new report on the importance of the renewable energy production tax credit for growing wind power capacity [14:05].

Published by Michael Novogradac on August 21, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the intentions of certain Republican Senate Finance Committee members to advance tax reform technical corrections and to encourage Treasury guidance on some of the new tax law changes [1:47]. Then, he moves on to housing, where he talks about a recent fair housing ruling [5:46] and a new bill to promote housing affordability, the Housing, Opportunity, Mobility and Equity Act of 2018 [9:48]. He wraps up today’s podcast with discussion of 2019 difficult-to-develop areas and information about the Capital Magnet Fund [11:11].

Published by Michael Novogradac on August 14, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the confirmation status of some key Treasury Department nominees [2:55], news about an oversight meeting on the Federal Housing Finance Administration [5:01], proposed regulations on depreciation deduction [5:42] and the 2018 demand for new markets tax credit allocation authority 8:09]. He wraps up today’s podcast with other industry headlines on community development, administration of the Illinois state historic tax credit, an expected low-income housing tax credit report and an update on when to expect opportunity zones guidance [9:47]. 

Published by Michael Novogradac on July 31, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares the latest updates on Republican efforts to advance phase two of tax reform [2:12]. After that, he discusses one bill to expand the low-income housing tax credit [5:24] and another bill to expand the new markets tax credit for certain rural areas [8:34]. The introduction of these two bill is a notable milestone to potentially getting them enacted in the fall, setting the stage for their enactment next year. He closes out today’s podcast with other industry headlines, including a blog post on HUD income data and good news for the state historic tax credit programs in Delaware and Illinois [11:04].

Published by Michael Novogradac on July 24, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, provides an update on the nomination of Charles Rettig as the next IRS commissioner [2:23]. Then, he outlines priority guidance requests from the Opportunity Zones Working Group [4:06]. After that, he discusses several bills related to affordable housing [7:58]. He wraps up today’s podcast with other industry headlines, including a low-income housing tax credit report, a few announcements from the CDFI Fund and news about a proposed Ohio state tax credit [11:17].

Published by Michael Novogradac on July 17, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, provides an update on Treasury appropriations legislation [2:40] and when listeners can expect Treasury to release opportunity zones guidance [3:20]. Then, he revisits an important discussion on why a tax credit structure for the new markets tax credit subsidy is more efficient than a proposed grant replacement program [6:40]. After that, he discusses information about Fannie Mae and Freddie Mac’s Duty-to-Serve plans [9:49]. He wraps up today’s podcast with an announcement from the CDFI Fund about new markets tax credit allocation application reviewers for 2018 and news about the state historic tax credit programs in Missouri and Delaware [11:20].

Published by Michael Novogradac on July 10, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares some news about two notices concerning the HUD Rental Assistance Demonstration program [1:39]. He also provides information about a recent Opportunity Zones Coalition letter requesting guidance from the Treasury Department and IRS concerning opportunity zones [5:01]. He wraps up this week’s episode with a roundup of other industry headlines [9:31].

Published by Michael Novogradac on July 3, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares an announcement from the CDFI Fund on issues with its Community Investment Impact System [1:59]. Then, he provides an update on the status of Republican plans to roll out a second round of proposed tax cuts [2:37]. After that, he shares how a proposal by the Trump administration to reorganize federal agencies could affect departments that administer housing and community development programs [4:18]. He also has a brief recap of the HUD oversight hearing last week for the House Financial Services Committee and discusses a new bill to restore HUD fair housing tools [6:56]. Then, he discusses a quick update on the nomination of a new IRS commissioner [7:43]. He wraps wrap up the episode with a roundup of industry headlines related to opportunity zones and the wind production tax credit [8:19].

Published by Michael Novogradac on June 26, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares an update on legislation to cut funding for critical affordable housing and community development programs [2:18]. After that, he discusses a Senate committee hearing to consider the nomination of Charles Rettig as the next IRS commissioner [3:41]. Then, he talks about a bill advanced by the Senate Appropriations Committee to provide fiscal year 2019 appropriations for financial services and general government appropriations [5:14], followed by highlights from the annual State of the Nation’s Housing report [6:21]. In renewable energy news, he outlines new guidance from the IRS on begin-construction requirements (Notice 2018-59) for the investment tax credit [8:33]. He wraps up this week’s episode with a roundup of other industry headlines related to opportunity zones, fair housing and a Massachusetts State Supreme Court ruling on a nonprofit’s right of first refusal to purchase a low-income housing tax credit property [9:53].

Published by Michael Novogradac on June 19, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the latest news on reforming the Community Reinvestment Act [2:10] and some recommendations for the IRS on clarifying income-averaging requirements [3:33]. He also discusses the final round of opportunity zones designations [4:45] and the recently updated opportunity zones frequently asked questions page [5:27]. He also talks about a new bill that could help strengthen the federal historic tax credit [7:32] and he’ll have an update on efforts to increase appropriations for the CDFI Fund [9:14]. Finally, he shares a roundup of other industry headlines, including news about Section 8 renewal funding inflation factors, the 2018 round of the CDFI Bond Guarantee program and more [10:02].

Published by Michael Novogradac on June 12, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares some insights from the NMTC Coalition’s Bob Rapoza on a possible vehicle for new markets tax credit extender legislation. He also provides updates on the recently revised new markets tax credit allocation application and FAQs document. After that, he discusses the Senate Appropriations Committee’s Transportation-HUD funding bill and efforts by a House Democratic group to increase affordable housing funding. Finally, he shares some news on Housing Trust Fund allocations and new guidance on California’s state low-income housing tax credit.

Published by Michael Novogradac on June 5, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses a revised low-income housing tax credit Form 8609 that reflects the new income averaging minimum set aside [2:04], as well as how a change in Missouri’s state leadership can affect the state’s low-income housing tax credit and historic tax credit [4:27]. He also talks about changes to the Community Reinvestment Act suggested by a group of Democratic senators [8:08]. Then, he briefly touches on the status of a HUD appropriations bill for 2019 [9:29]. After that, he shares some other affordable housing, community development and historic preservation headlines from the past week [10:48].

Published by Michael Novogradac on May 29, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about Brian Montgomery’s confirmation as Federal Housing Administration commissioner [2:15]. He also shares details about the recently enacted banking regulatory reform bill (S. 2155) [3:50], about a recent hearing on reforming Fannie Mae and Freddie Mac [5:26], and shares information on a fiscal year 2019 financial services appropriations bill [7:07]. After that, he discusses some important news about the new markets tax credit allocation electronic application. And from there, he provides information about a couple of Financial Services Committee bills and about HUD Capital Fund allocations. He closes with an update on Colorado’s state low-income housing tax credit [8:26].

Published by Michael Novogradac on May 22, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares some insights from the25th Annual Novogradac Affordable Housing Conference last week [2:41]. Then, he talks briefly about the latest opportunity zone designations [4:50]. After that, he goes over the Housing Choice Voucher Mobility Demonstration Act of 2018 (H.R. 5793) [5:39], some fair housing announcements from HUD [7:10] and a couple of upcoming hearings on tax reform and housing finance reform [7:55]. Then, he shares some state-level news on the Wisconsin state low-income housing tax credit and the Missouri state historic tax credit, as well as an affordable housing resident report [8:52].

Published by Michael Novogradac on May 15, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, tells listeners what they need to know about the new markets tax credit application period that opened last week [1:22]. He also shares some news about legislation introduced last week to rescind more than $15 billion in budget authority and explains how it affects some housing and community development programs [4:51]. The he discusses an upcoming tax reform hearing [7:37]. After that, he shares some news about fair housing, the 2018 round of the Capital Magnet Fund and the latest qualified equity investment issuance report [9:57].

Published by Michael Novogradac on May 8, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares the latest on whether listeners might see more tax reform this year [2:00], as well as updates on the population figures used to calculate state low-income housing tax credit allocations [3:59], Housing Trust Fund increases [6:33] and what conference attendees learned about solar tariffs at the Novogradac 2018 Financing Renewable Energy Tax Credits Conference last week [7:16]. After that, he shares a HUD notice about the Rental Assistance Demonstration program, as well as a report on the amount of renewable energy investment tax credits and production tax credits claimed by taxpayers in recent years [9:37].

 

Published by Michael Novogradac on May 1, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares some updates on HUD’s Rental Assistance Demonstration program [2:18]. Then, he discusses HUD’s rent reform proposals [5:36], as well two congressional hearings [8:47], [10:20] and what is known about the recent Republican House member retirement that creates a vacancy on the House Ways and Means Committee [11:23]. After that, he shares some good news from Wisconsin about the state historic tax credit. And he closes out with some renewable energy news on to the Protecting American Solar Jobs Act (H.R. 5571), a bill to repeal the 30 percent solar tariff [12:05].

Published by Michael Novogradac on April 24, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the latest efforts to rescind parts of the $1.3 trillion omnibus spending bill for fiscal year 2018 [2:00]. After that, he briefly touches on a package of bills developed to improve administration of the IRS [5:54]. Then, he discusses a scheduled hearing on the new tax law [6:41] and a recent House Ways and Means Tax Policy Subcommittee roundtable on expiring tax provisions [7:43]. After that, he shares news on new opportunity zone designations, a California housing bill (S.B. 827) and the recently released inflation adjustments for the renewable energy production tax credit [9:19].

Published by Novogradac & Company LLP on April 17, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses how the Office of Management and Budget might try to roll back billions of dollars from the recent omnibus spending bill [2:12]. He also discusses a new framework for reviewing tax regulations. Then, he touches briefly on a Ways and Means roundtable discussion on expiring tax provisions [4:00]. After that, he outlines a new executive order on work reforms for welfare and housing assistance programs [4:25]. After that, he shares some brief news from HUD on the CDBG disaster recovery program and on Choice Neighborhood planning grants. He also provides an update on rural housing preservation legislation and a quick update on how the renewable energy production tax credit influences national and global wind power capacity [7:15].

Published by Michael Novogradac on April 10, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares updates on opportunity zone designations [1:33]. He also talks about how the fiscal year 2018 omnibus spending bill affects the low-income housing tax credit [3:32]. Then, he discusses some Treasury recommendations on modernizing the Community Reinvestment Act [6:12] and he’ll have an update on confirming the next commissioner of the FHA [8:55]. After that, he shares some brief news on certain HUD fees, an extended state historic tax credit program and the latest qualified equity investment issuance report for the New Markets Tax Credit program [10:02].

Published by Michael Novogradac on April 3, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the fiscal year 2018 income limits that were released by HUD last Friday [1:41]. He also discusses the new income-averaging option for low-income housing tax credit properties [8:43]. After that, he shares some brief news on the Cantwell-Hatch low-income housing tax credit bill, requests for more HUD and USDA funding and a proposal to create a new Illinois state historic tax credit [13:25].

Published by Michael Novogradac on March 27, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the recently passed Consolidated Appropriations Act of 2018 and its provisions regarding the low-income housing tax credit and HUD funding [2:01]. After that, he shares highlights of HUD and GAO reports, followed by some state-level news from California and New York [11:33].

Published by Michael Novogradac on March 20, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the upcoming federal funding deadline [1:54], a House subcommittee hearing on tax extenders [3:21] and the possibility of a second phase of tax reform [5:15]. After that, he shares a roundup of other headlines from the past week [7:12], including the National Low-Income Housing Coalition’s latest affordable rental housing report, the CDFI Fund’s Capital Magnet Fund awards, a report on federal historic tax credit investments and a bill in Oklahoma that would cap the state’s wind production tax credit.

Published by Michael Novogradac on March 13, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the possibility of Republicans trying to use an omnibus spending bill as a vehicle for making technical corrections to their tax bill [2:01]. He also discusses a $1 trillion infrastructure plan by a group of nine Senate Democrats [4:26]. Then, he shares a resource for more information on state opportunity zone designations [9:29]. After that, he shares a roundup of other headlines from the past week, including the expected release date of HUD income limits, a proposed tax credit deferral in New York and a New Mexico energy bill [10:46].

Published by Michael Novogradac on March 6, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the upcoming federal budget deadline and the latest efforts to add affordable housing provisions [1:41]. He also tells listeners how they can participate in some opportunity zone decisions [5:35]. Then he wraps up with some quick headlines, including a policy hearing, HUD grants and an Iowa state bill [7:51].

Published by Michael Novogradac on February 27, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the Opportunity Zone program created through the December 2017 tax law [02:12] and how the incentive complements long-standing programs, such as the new markets tax credit and low-income housing tax credit [4:31]. He closes with updates on HUD’s small area fair market rents, the creation of an affordable housing funding coalition and some state-level news [7:22].

Published by Michael Novogradac on February 20, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares a recap of the calendar year 2017 new markets tax credit allocation awards [1:25], a White House meeting about Opportunity Zones [3:30], the fiscal year 2019 budget request [5:11] and funding for the Housing Trust Fund and Capital Magnet Fund [9:48]. After that, he shares brief summaries of other industry headlines from the past week.

 

 

 

Published by Michael Novogradac on February 13, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts with a recap of budget legislation that was passed by Congress and signed into law last week. He also discusses the President’s FY 2019 budget released yesterday. He also discusses the debt ceiling, housing finance reform and the 2018-2020 housing goals for Fannie Mae and Freddie Mac. He wraps up with several significant news items from last week, including opportunity zone guidance.

Published by Michael Novogradac on February 6, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares important updates on the efforts to keep the government funded past this Thursday and the pressing need to address the federal debt limit sooner rather than later. Then, he reviews what is known so far about the Trump administration’s plans for infrastructure reform. He also discusses how a chained consumer price index under the new rules of tax reform could affect low-income housing tax credit allocation amounts and private activity bond caps for this year, 2018. He closes with a roundup of other headlines including the current status of tax extender negotiations and the unconfirmed rumor of a Trump proposal to institute work requirements for certain HUD assistance.

Published by Michael Novogradac on January 30, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares important new markets tax credit announcements, including an allocation timeline update from the Novogradac New Markets Tax Credit Conference last week. He also discusses other headlines from the past week, including CRA news for community development activities in Hurricane Maria disaster zones.

Published by Michael Novogradac on January 23, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the government shutdown and its end. He also talks about the future of the Affordable Housing Credit Improvement Act of 2017, now that Rep. Pat Tiberi has stepped down from Congress. He also reveals the new Republican lead for that bill in the House. He closes out with other tax credit headlines over the past week.

Published by Michael Novogradac on January 16, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the status of federal budget talks and the difficulties in passing a continuing resolution. He also talks about some new tax-related committee assignments in Congress. He closes out with other headlines from the past week.

Published by Michael Novogradac on January 9, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the status of infrastructure reform and its chances of passing in 2018. Then, he discusses the announced retirements of tax credit advocates, Sen. Orrin Hatch and Rep. Pat Tiberi. He closes out with other headlines from the past week.

Published by Michael Novogradac on January 2, 2018

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses what is on the legislative horizon after tax reform. He also talks about new practices recommended by the National Council of State Housing Agencies. After that, he discusses a recent ruling on the implementation of HUD’s small area fair market rent rule. Then, he wraps up with a rundown of other headlines from the past week.

Published by Michael Novogradac on December 19, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses tax reform legislation and how individual provisions could affect tax credits. He also discusses the Joint Center for Housing Studies at Harvard University’s, “America’s Rental Housing 2017” report. He shares HUD’s announcement on small area fair market rents. In addition, he discusses Capital Magnet Fund application information, and he closes out with some information on a new Missouri state bill.

Published by Michael Novogradac on December 12, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the new unofficial tax reform deadline of Dec. 22, as well as the appointed members of the House and Senate conference to negotiate a final tax bill. He also discusses the corporate alternative minimum tax rate, as well as the base erosion and anti-abuse tax. In other news, he discusses HUD’s new report on homelessness, as well as the New Markets Tax Credit Coalition’s new economic impact report of the NMTC program. 

Published by Michael Novogradac on December 5, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the latest news in tax reform. He also discusses a Bipartisan Policy Center report, the swearing in of Joseph Otting as Comptroller of the Currency and the nomination of Jelena McWilliams, as well as the latest QEI Issuance Report

Published by Michael Novogradac on November 28, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the latest news in tax reform. He also discusses the state of the Missouri state low-income housing tax credit and the reentry of Fannie Mae and Freddie Mac into the low-income housing tax credit investment market.

Published by Michael Novogradac on November 21, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the progress of tax reform. He discusses the major strides both the House and Senate made toward the Republican goal of enacting tax reform this year. He also says what those legislative developments mean for affordable housing, community development, historic preservation and renewable energy. 

Published by Michael Novogradac on November 14, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the Senate Republican tax reform bill and what the proposed legislation could mean for low-income housing tax credits, private activity bonds, the new markets tax credit, the historic rehabilitation tax credit and renewable energy tax credits.

Published by Michael Novogradac on November 7, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the House Republican tax reform bill, the Tax Cuts and Jobs Act (H.R.1) and what the proposed legislation could mean for low-income housing tax credits, private activity bonds, the new markets tax credit, the historic rehabilitation tax credit and renewable energy tax credits.

Published by Michael Novogradac on October 31, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the major tax bill expected to be released tomorrow and the legislative hurdles that were cleared to get to this point. After that, he discusses a proposal to combine various tax credits into one program and why that is potentially a bad idea. He closes out with other tax-credit related headlines, including the nomination status of three HUD appointees, an extension for 2015 qualified census tracts (QCTs) and difficult development areas (DDAs), as well as a video of President Ronald Reagan voicing his support for the federal historic tax credit.

Published by Michael Novogradac on October 25, 2017

In this Special 10th Anniversary Edition of the Novogradac Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares his favorite podcast highlights over the past decade, including an excerpt from the first episode, which features then-CDFI Fund Director Kimberly Reed. The episode also includes special messages from former Congressman Rick Lazio, David Gasson of Boston Capital, Merrill Hoopengardner of the National Trust Community Investment Corporation and Michael Bodaken of the National Housing Trust.

Published by Michael Novogradac on October 24, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the Senate-passed budget resolution, a big step that Republicans took last week toward enacting tax reform. In other news, he also shares insights from the CDFI Fund’s New Markets Tax Credit program manager Bob Ibanez on when to expect 2017 allocation awards to be announced. He wraps up today’s podcast with other tax-credit related headlines, including 2018 low-income housing tax credit and bond caps, as well as low-income housing tax credit national pool amounts for 2017. 

Published by Michael Novogradac on October 17, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses HUD Secretary Ben Carson’s first appearance before the House Financial Services Committee last week. He wraps up today’s podcast with other tax-credit related headlines, including information on a budget resolution vote as it relates to tax reform, California wildfire tax relief, the Oklahoma Affordable Housing Tax Credit program and the EPA administrator’s comments on eliminating the renewable energy investment and production tax credits.

Published by Michael Novogradac on October 10, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the status of the Move America Act, an infrastructure package in Congress and share highlights from last week’s House Financial Services Committee hearing that focused on housing finance reform, including Fannie Mae and Freddie Mac. He closes out today’s podcast with other affordable housing and community development headlines, including some significant state-level news from California and Wisconsin.

 

Published by Michael Novogradac on October 3, 2017

In this week’s Special Tax Reform Edition of the Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the significance of the Republican tax reform framework released last week and what it could mean for the affordable housing, community development, historic rehabilitation and renewable energy communities. After that, he discusses the next steps and what listeners can expect if or when tax reform is enacted. Along the way, he shares some insights into how these proposed changes could affect various tax credit communities. He invites listeners to submit questions or other insights to [email protected].

Published by Michael Novogradac on September 26, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he provides an update as to what to expect on tax reform this week. He also shares updates on a Senate Finance Committee business tax reform hearing and tax reform retreats by House Republicans and the Ways and Means Committee. He also shares the latest disaster relief announcements from the IRS and HUD. In the affordable housing section, he discusses HUD Secretary Ben Carson’s recent op-ed on policy reforms he plans to make. Then, he highlights a few proposed regulations for California’s Low-Income Housing Tax Credit program. In new markets tax credit news, he discusses how listeners can submit comments on the CDFI Fund’s reporting system, CIIS. He closes out with a troubling state historic tax credit development in Wisconsin and why developers there have about 10 months to prepare for a significant program change.

Published by Michael Novogradac on September 19, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with significant news about the timeline for tax reform.  He also shares good news on the nominations of Pam Patenaude as HUD deputy secretary and Brian Montgomery as FHA commissioner. After that, he provides an update on disaster relief for taxpayers affected by Hurricane Irma. On the affordable housing front, he shares details about private activity bond issuance for affordable rental housing in 2016. He also has information for listeners about the 2018 qualified census tracts and difficult development areas. He discusses the LIHTC Working Group’s comments on the National Council of State Housing Agencies’ proposed revisions to its Recommended Practices in Housing Credit Administration. And in state housing news, he provides an update on California S.B. 2 and S.B.3, legislation that could increase the development and preservation of affordable housing. He closes out with state historic tax credit news from Wisconsin.

 

Published by Michael Novogradac on September 12, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he shares big news on Hurricane Harvey assistance, the debt ceiling and a continuing resolution. He also provides news regarding the reintroduction of the National Disaster Tax relief Act (H.R. 3679), a bill that would incentivize investments in areas affected by natural disasters. After that, he discusses the latest news on tax reform and shares an update on changes in membership that is coming to the Ways and Means Committee after next year’s elections. He shares a status update on the nominations of Pam Patenaude as HUD assistant secretary and of Paul Compton as HUD general counsel. He closes with an updated resource on low-income housing tax credit investments from the ACTION Campaign.

Published by Novogradac & Company LLP on September 5, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the status of tax reform efforts and legislative options for a continuing resolution and raising the debt limit, which must be addressed this month. He also provides a short update on amendments filed to Transportation-HUD and other spending bills. Then, he discusses fiscal year 2018 fair market rents and a slate of state bills that could increase funding for affordable housing in California. Next, he shares good news from Illinois, where the state new markets tax credit was extended through S.B.625. He closes out with the National Renewable Energy Laboratory’s “Wind Energy Finance in the United States: Current Practice and Opportunities,” an informative report on wind energy investments.

Published by Michael Novogradac on August 29, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he discusses the latest in tax reform efforts. He also touches on upcoming deadlines to keep the government funded through the next fiscal year and to raise the federal debt ceiling. In low-income housing tax credit news, he shares good news regarding an increase in the Rental Assistance Demonstration program cap, and he also talks about the Rent Relief Act, a bill that has been introduced in Congress that would create a federal renter tax credit. He closes out with news on a proposed cap for the Wisconsin state historic tax credit.

Published by Michael Novogradac on August 22, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he discusses the latest in tax reform efforts. He also talks about the canceling of a planned presidential infrastructure advisory council. In low-income housing tax credit news, he discusses a change to when HUD’s new small-area fair market rent designations will go into effect. In new markets tax credit news, he talks about the NMTC Working Group’s tax reform recommendations to the Senate Finance Committee. And, he shares the CDFI Fund’s latest qualified equity investment issuance report. He closes with an update on the Illinois state historic tax credit extension bill and on a court ruling that could mean good news for New York State historic tax credit investments.

Published by Michael Novogradac on August 15, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section where he talks about what GOP leaders are doing to keep alive their goal of advancing tax reform legislation this fall after they return from August recess. Then, he discusses a budget resolution and debt ceiling, two major items on the congressional agenda that are crowding the calendar for tax reform. In low-income housing tax credit news, he discusses a report by HUD on the nation’s worst-case housing needs. In new markets tax credit news, he outlines a program update from the CDFI Fund on applications submitted for the 2017 round of the new markets tax credit. He closes with historic tax credit news, where he is talks about Illinois S.B. 1783, a state bill that could extend the Illinois state historic tax credit for another four years.

Published by Michael Novogradac on August 8, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he outlines President Trump’s executive order to create an infrastructure council. Then, he provides listeners with more details on last week’s Senate Finance Committee hearing on tax reform and affordable housing. After that, he talks about Senate Finance Committee Chairman Orrin Hatch’s plan for a tax reform legislation markup after the August recess. Then, he shares the Trump administration appointees who were confirmed by the Senate last week. In low-income housing tax credit news, he discusses a new Notes from Novogradac blog post that discusses the difficult development areas for 2018. Then, he outlines the newly introduced Smoke-Free Affordable Housing Act (H.R. 3322), which would give low-income housing tax credit allocation preference to non-smoking developments. In new markets tax credit news, he reviews a new markets tax credit compliance report commissioned by the CDFI Fund. In historic tax credit news, he shares a state report on the economic effects of the Louisiana state historic tax credit. He closes out with renewable energy tax credit news on Senate Bill 1672, which would create an investment tax credit for offshore window projects.

Published by Michael Novogradac on August 1, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with a packed general section this week. He talks about the failed effort to repeal parts of Obamacare in the Senate and how that affects Republican approaches to tax reform. He provides an overview of the Senate Finance Committee affordable housing hearing held today. Then, he talks about fiscal year 2018 appropriations for the Departments of Transportation, Housing and Urban Development and Related Agencies. After that, he lists the HUD and Treasury nominations that were recently voted on to advance. In low-income housing tax credit news, he’ll discuss what California’s extended cap-and-trade program could mean for affordable housing. In new markets tax credit news, he shares highlights from the New Markets Tax Credit Coalition’s report on the importance of the new markets tax credit in rural communities. He closes out with historic tax credit news, where he discusses an upcoming deadline for Rhode Island state historic tax credit participants and how listeners can register for the Novogradac 2017 Historic Tax Credit Conference.

Published by Michael Novogradac on July 25, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section and an update on a Senate vote to proceed on healthcare legislation passed by the House. Then, he talks about how a House Budget Committee resolution can set the stage for tax reform. After that, he goes over a recent tax policy subcommittee’s tax reform hearing and what industry groups are advocating in letters to Senate Finance Committee Chairman Orrin Hatch. Then, he briefly discusses last week’s Senate Finance Committee tax reform hearing and the committee’s vote to advance the nomination of David Kautter as Treasury Assistant Secretary for Tax Policy. In low-income housing tax credit news, he shares what HUD Secretary Ben Carson plans to do with the Affirmatively Furthering Fair Housing rule. Then, he lists some of the affordable housing advocacy activities coming up for National Housing Week of Action. In new markets tax credit news, he shares an important reminder about upcoming application deadlines for the CDFI Fund’s Capital Magnet Fund round. He closes out with renewable energy tax credit news, where he discusses the Technologies for Energy Security Act (H.R. 1090), a bill that would extend the investment tax credit for certain orphaned renewable energy technologies.

Published by Michael Novogradac on July 18, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section where he talks about everything from a potential omnibus spending bill and appropriations for Transportation, Housing and Urban Development and related agencies to the White House’s tax plan timeline. He also discusses an upcoming House Ways and Means Committee hearing on tax reform and how the U.S. Conference of Mayors is asking legislators to invest in affordable housing, community development and clean energy. In low-income housing tax credit news, he provides a cosponsor update on both the House and Senate versions of the Affordable Housing Credit Improvement Act of 2017 (H.R. 1661, S. 548). In new markets tax credit news, he relays another deadline extension from the CDFI Fund to submit required reports for certain programs, including the new markets tax credit. Then, he shares the monthly qualified equity investment issuance report. In historic tax credit news, he touches briefly on an upcoming meeting for the Advisory Council on Historic Preservation and he provides listeners with an update on the status of state historic tax credit investments in Rhode Island.

Published by Michael Novogradac on July 11, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about factors affecting the timing of tax reform. He also shares the results of Novogradac’stax reform Twitter poll.After that, he has updates from the House Appropriations Committee. In low-income housing tax credit news, he outlines the FHFA’s proposed annual housing goals for Fannie Mae and Freddie Mac. Next, he shares news about Novogradac & Company’s updated Rent and Income Limit Calculator. Then, he outlines the Public Housing Tenant Protection and Reinvestment Act of 2017.Next, he talks about the updated Section 8 Renewal Policy Guide .After that, he briefly discusses California S.B. 2.In new markets tax credit news, he shares an invitation for comment on the NMTC application. Then, he shares about upcoming deadlines for the Capital Magnet Fund. In historic tax credit news, he talks about the future of the state low-income housing tax credit and the state historic tax credit in Missouri. He closes with Michigan, S.B. 469.

Published by Michael Novogradac on June 27, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he talks about progress on a health care bill that could clear more room on the congressional calendar for tax reform, if the bill passes. On the topic of tax reform, he shares what House Speaker Paul Ryan said last week on his expectations of what tax reform will look like and when it can be enacted. He also discusses one of the other major items on the congressional to-do list: raising the debt ceiling. After that, he talks about why some members of Congress are calling for a cancellation of the August recess. Then, he touches briefly on potential timing for banking regulatory reform and housing finance reform. In new markets tax credit news, he shares two updates from the CDFI Fund. One is a reporting deadline extension and the other is a call for applicants to review the 2017 round of the new markets tax credit.  In historic tax credit news, he talks about an upcoming change to the timing of when state historic tax credit projects can be certified in Ohio. He closes out with renewable energy tax credit news, where I’ll discuss a potential legislative vehicle that could extend the investment tax credit for orphaned technologies.

Published by Michael Novogradac on June 20, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he talks about Sen. Orrin Hatch’s call for stakeholder feedback on tax reform. Then, he discusses the appointments of Kipp Kranbuhl and Jared Sawyer to Treasury Department staff. After that, he provides listeners with an update on the nomination of Pam Patenaude as HUD deputy secretary. He also shares proposed partnership audit rule changes. In low-income housing tax credit news, he highlights findings from two reports: one is the Federal Housing Finance Agency’s annual report to Congress and the other is the 2017 State of the Nation’s Housing report. He then touches briefly on HUD’s announced fiscal year 2017 allocations for the Office of Community Planning and Development grant programs. In new markets tax credit news, he talks about upcoming program deadlines and he shares what CDFI Fund Director Annie Donovan said about when to expect the 2017 NMTC award announcement. 

Published by Michael Novogradac on June 13, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he covers HUD Secretary Ben Carson’s appearances last week before important subcommittees in both the House and the Senate to talk about President Trump’s budget request. I’ll also share what Pam Patenaude told the Senate Banking Committee during a hearing on her nomination as HUD deputy secretary. Then, he discusses President Trump’s nomination of Joseph Otting to head the Office of Comptroller of the Currency. He also touches on the Financial Choice Act (H.R. 10), a significant banking regulation bill that the House passed last week to repeal and replace the Dodd-Frank Act. In low-income housing tax credit news, he tells listeners about the National Low-Income Housing Coalition’s recently released, annual, Out of Reach Report. He also shares the steps being taken by an important affordable housing advocacy group to encourage the House Ways and Means Committee to expand the low-income housing tax credit. In new markets tax credit news, he provides details from an annual progress report by the New Markets Tax Credit Coalition, as well as information about the New Markets Tax Credit Working Group’s latest comment letter to the IRS concerning this year’s priority guidance plan. In historic tax credit news, he shares an update on an Illinois state historic tax credit bill (S.B. 1783) that awaits the governor’s signature for a significant extension. And in renewable energy tax credit news, he shares some news about the American Wind Energy Association’s (AWEA’s) announcement that it won’t push for another extension of the production tax credit. Finally, he discusses the Solar Energy Industries Association’s latest quarterly report on solar energy.

Published by Michael Novogradac on June 6, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section, where he shares news on the Trump administration’s plans to release a detailed tax plan. Then, he discusses one path that House appropriators are considering for passing 12 appropriations bills for fiscal year 2018. After that, he announces two congressional hearings. One is in the House Appropriations Subcommittee on Transportation, Housing and Urban Development and Related Agencies and concerns the Trump administration’s proposed fiscal year 2018 budget. The other is in the Senate Committee on Banking, Housing and Urban Affairs on the nomination of Pam Patenaude as HUD deputy secretary. In affordable housing news, he discusses a new methodology proposed by HUD on calculating fair market rents. Then, he outlines a Louisiana state court decision on affordable housing property valuations that could have significant consequences for affordable housing in New Orleans. He closes out with historic tax credit news, where he shares good news from Alabama and Louisiana. 

Published by Michael Novogradac on May 30, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about last week’s House Ways and Means Committee hearing on the president’s proposed budget for fiscal year 2018. He recaps the testimony of sole witness Treasury Secretary Steve Mnuchin. Then, he discusses the Move America Act of 2017, a bill that would authorize additional tax-exempt bond allocation as well as a new tax credit to fund infrastructure projects. In new markets tax credit news, he outlines some of the topics added to the CDFI Fund’s list of frequently asked questions regarding the 2017 NMTC allocation application. After that, he closes out with the latest qualified equity investment issuance report and a CDFI Fund blog post on eligible uses of Capital Magnet Fund awards. In historic tax credit news, he shares a sign-on letter urging congressional leaders to retain and enhance the historic tax credit in tax reform. Then, he outlines the School Infrastructure Modernization Act, a bill that involves the historic tax credit and historic schools.

Published by Michael Novogradac on May 23, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he shares what is known about the budget proposal for 2018 that President Donald Trump’s administration will release today, including some affordable housing programs that will reportedly see cuts. He also talks about the first of a series of hearings about tax reform that the House Ways and Means Committee conducted last week and will let listeners know what topic they will discuss today. In low-income housing tax credit news, he discusses some new cosponsors for the Affordable Housing Credit Improvement Act of 2017 in both houses of Congress and let listeners know which co-sponsors are members of the influential Ways and Means Committee and Senate Finance Committee. He also shares recent Section 1602 audits of Rhode Island and Arkansas.. In historic tax credit news, he talks about the latest effort by legislators in West Virginia to pass a significant increase to their state historic tax credit percentage and what hurdles remain for it. He closes out with the renewable energy tax credit section, where he discusses legislation introduced again in Congress to extend the investment tax credit for offshore wind.

 

Published by Michael Novogradac on May 16, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about President Donald Trump’s nominees for two key posts: the Assistant Secretary of the Treasury for Tax Policy and the commissioner of the Federal Housing Administration. He also discusses when to expect the Congressional Budget Office and Joint Committee on Taxation to release its updated cost estimate for the American Health Care Act—and how that affects tax reform efforts. After that, he shares information about this week’s House Ways and Means Committee hearing on tax reform.  In low-income housing tax credit news, he discusses the Federal Housing Finance Agency’s two recent announcements concerning the role of Fannie Mae and Freddie Mac in the low-income housing tax credit market. After that, he shares news from the California Debt Limit Allocation Committee on its meeting date to discuss tax-exempt bond allocations. He closes out with historic tax credit news where he provides listeners with an update on Alabama H.B. 345, legislation to extend the Alabama state historic tax credit

Published by Michael Novogradac on May 9, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section, where he talks about how the House’s recent passage of a health care reform bill affects efforts to advance tax reform legislation. In low-income housing tax credit news, he discusses a teleconference and web conference series hosted by the U.S. Department of Agriculture that’s designed to enhance its multifamily housing program. Then, he shares the results of a recent poll on how voters feel about keeping tax incentives in tax reform, including the low-income housing tax credit. After that, he discusses a bill that would create a Maine state low-income housing tax credit. In the new markets tax credit section, he talks about the official opening of the calendar year 2017 new markets tax credit allocation round and which deadlines you should mark on your calendar. He closes out with renewable energy tax credit news, where he discusses a bill introduced by Sen. Ron Wyden that would create a new renewable energy tax credit program that is technology neutral and would extend expired or expiring clean energy incentives through the end of 2018.

Published by Michael Novogradac on May 2, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with

the general news section, where he talks about the $1 trillion omnibus spending bill that Congress is negotiating this week to keep the government funded through the end of fiscal year 2017. He also discusses President Donald Trump’s tax plan outline and how it compares to the priorities of Republican leaders in Congress. In low-income housing tax credit news, he announces the nomination of Pam Patenaude as HUD deputy secretary. He also shares what HUD Secretary Ben Carson said about the low-income housing tax credit and when listeners can expect him to release his housing agenda. Then, he discusses how listeners can access the updated Novogradac Rent & Income Limit Calculator. In the new markets tax credit section, he discusses the tentative timeframe for opening the fiscal year 2017 round of the Capital Magnet Fund. He also shares the CDFI Fund’s request for comment on the annual report required of new markets tax credit and CDFI program participants. He closes out with historic tax credit news, where he talks about a notice from the IRS on conservation easement transactions that may inadvertently affect certain historic tax credit projects.

Published by Michael Novogradac on April 25, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section, where he talks about efforts to keep the government funded past Friday, when the continuing resolution expires. He also discusses the latest updates from Washington on tax reform efforts. In addition, he shares the IRS’ invitation to submit comments on the 2017-2018 priority guidance plan. In low-income housing tax credit news, he continues last week’s discussion about the release of the fiscal year 2017 income limits. In the new markets tax credit section, he provides an update on the New Markets Tax Credit Extension Act of 2017. Then, he shares information from the latest qualified equity investment issuance report and how listeners can get notified as soon as the notice of allocation authority is released for the next new markets tax credit allocation round. He closes out with the renewable energy tax credit news section, where he shares two state legislation updates: one from Maryland and the other from Oklahoma.

Published by Michael Novogradac on April 18, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he reviews the latest efforts to enact tax reform and the major stumbling blocks that are currently preventing it from moving forward. He also provides a short update on the status of funding the federal government, as the continuing resolution is scheduled to expire at the end of next week. In low-income housing tax credit news, he talks about HUD’s recent release of the fiscal year 2017 income limits and some of his initial observations. He also discusses recent report findings by HUD about low-income housing tax credit tenants, and after that he shares some insights with listeners from Novogradac’s newest edition of the Novogradac Multifamily Rental Housing Operating Expense Report. He closes out with new markets tax credit news, where he discusses A.B. 1715, a bill to create a California state new markets tax credit.

Published by Michael Novogradac on April 11, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he provides an update on congressional priorities once lawmakers return from their spring recess. Namely, where does Congress stand on avoiding a government shutdown and how close or far are legislators from tackling tax reform? Then, he shares what HUD Secretary Ben Carson said last week about the Trump administration’s proposed cuts to affordable housing and community development programs. After that, he shares what Rep. Maxine Waters is doing to challenge those proposed cuts to HUD funding. In low-income housing tax credit news, he talks about last week’s American Enterprise Institute Conference on Housing Affordability. Then, he outlines what the California Debt Limit Allocation Committee is doing to adjust for the disruption in the low-income housing tax credit debt and equity market. He closes out with our renewable energy tax credit section, where he goes over the National Resources Defense Council’s “Engine of Growth: The Extensions of Renewable Energy Tax Credits will Power Huge Gains in the Clean Energy Economy ,”a report that compares how the energy sector and the economy would be different with and without renewable energy tax credits.

Published by Michael Novogradac on April 4, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he discusses President Donald Trump’s budget request for fiscal year 2018 and how his administration’s supplemental fiscal year 2017 request could affect affordable housing and community development programs. He also talks about Trump’s recent executive order concerning the Clean Power Plan and how that could affect renewable energy tax credits. In low-income housing tax credit news, he goes over affordable housing highlights featured in a recent newsletter from the Office of the Comptroller of the Currency. Then, he discusses Georgia H.B. 196 that was passed that would change how fair market values of low-income housing tax credit properties are determined. He also talks about Massachusetts’ new Community Scale Housing Initiative program to help build and preserve affordable housing. In new markets tax credit news, he outlines Mississippi’s recent state new markets tax credit extension. He closes out with the historic tax credit section, where he discusses Virginia’s newly enacted state historic tax credit annual cap of $5 million per taxpayer.

Published by Michael Novogradac on March 28, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he discusses what happened to the Republicans’ high-profile efforts to repeal and replace Obamacare last week and the effect their failure could have on the prospect of comprehensive tax reform. In low-income housing tax credit news, he tells listeners about the introduction of the House version of the Affordable Housing Credit Improvement Act and how it differs from the Senate version of the bill. He also gives an update on legislation in Utah HB 36, which would expand the state low-income housing tax credit. In the historic tax credit section, he shares an update on the Historic Tax Credit Improvement Act cosponsors, including how many of them are on the powerful tax-writing committees in the House and Senate. He closes out with the renewable energy tax credit section where he discusses a state-level bill that extends the popular Massachusetts Solar Renewable Energy Credit 2 program, while a long-term replacement is sought. 

Published by Michael Novogradac on March 21, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he discusses the Trump administration’s fiscal year 2018 budget request blueprint and what it could mean for affordable housing and community development. He also discusses Treasury Secretary Steven Mnuchin’s choice of Justin Muzinich for his counselor on tax reform.  Then, he provides an update on HUD Secretary Ben Carson’s listening tour. In low-income housing tax credit news, he discusses a report on low-income housing tax credit developments in the San Francisco Bay Area. In new markets tax credit news, he reviews a study of Maine’s state new markets tax credit and how it can be improved. In the historic tax credit section, he discusses the Advisory Council on Historic Preservation’s recent report on the National Historic Preservation program. Then, he has some state news from Alabama and Arkansas. Alabama took one step closer to reinstating its state historic tax credit through H.B. 345 and S.B. 262. Arkansas will soon see an increase in its state historic tax credit per-project cap with the passage of S.B. 253. He closes out with the renewable energy tax credit section, where he shares what Rep. Tom Reed has to say about the renewable energy production tax credit. After that, he outlines Oklahoma H.B. 2298, which could end the state renewable energy production tax credit.

Published by Novogradac & Company LLP on March 14, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section, where he talks about a report on what will be included in President Donald Trump’s 2018 federal budget proposal that will be released this week. He also discusses what the Senate majority leader said last week about the timeline for tax reform and how it differs from what was said by Treasury Secretary Steve Mnuchin. In low-income housing tax credit news, he discusses two housing reports. One is from the office of Sen. Maria Cantwell, who introduced the Affordable Housing Credit Improvement Act with Sen. Orrin Hatch last week. The other housing report is by the National Low Income Housing Coalition. After that, he talks about what the District of Columbia is doing to address uncertainty in the low-income housing tax credit equity market. In new markets tax credit news, he provides a cosponsor update on the New Markets Tax Credit Extension Act of 2017. He closes out with the historic tax credit section, where he shares some important guidance issued by the National Park Service about functionally related buildings in multiple-building projects. He also gives highlights of the annual National Park Service report on the historic tax credit, including a record that was set in 2016. And he concludes with information about a Nebraska LB 475, a bill introduced to end the state historic tax credit. 

Published by Michael Novogradac on March 7, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about President Donald Trump’s first address to a joint session of Congress. He then discusses the recent confirmation of Ben Carson as Secretary of the U.S. Department of Housing and Urban Development (HUD). In the low-income housing tax credit (LIHTC) section, he outlines the Affordable Housing Credit Improvement Act. He also discusses in detail what IRS resident population estimates mean for states’ low-income housing tax credit and tax-exempt private activity bond ceilings. Then, he shares a GAO report, “Low-Income Housing Tax Credit: The Role of Syndicators.” After that, he discusses Minnesota SF 1181, a bill to create a Minnesota state low-income housing tax credit. In historic tax credit news, he talks about Alabama H.B. 345 and S.B. 262, legislation to reinstate the Alabama state historic tax credit. He closes out with renewable energy tax credit news, where he discusses Maryland S.B. 926, a bill to create a state renewable energy investment tax credit.

Published by Michael Novogradac on February 28, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about Treasury Secretary Steve Mnuchin’s tax reform timeline. He also discusses when the House Appropriations Subcommittee on Transportation, Housing and Urban Development and Related Agencies (T-HUD) may consider a new fiscal year 2017 spending bill. In low-income housing tax credit news, he talks about the recently released 2017 calendar year resident population figures. He also discusses a sign-on letter from the Affordable Rental Housing ACTION Campaign. Then he details the Housing for Homeless Students Act of 2017. In new markets tax credit news, he discusses a CDFI Coalition and NMTC Coalition advocacy letter sent to Mnuchin. Then, he summarizes the latest qualified equity investment (QEI) issuance report. After that, he shares CDFI Bond Guarantee program deadlines. He closes with historic tax credit news, where he talks about West Virginia’s H.B. 2545, which would increase the state historic tax credit from 10 percent to 25 percent.

Published by Michael Novogradac on February 21, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about the recent confirmation of new Treasury Secretary Steve Mnuchin and what some of the priority items are on his to-do list. He also discusses the House Ways and Means Committee’s newest member, Mike Bishop. In low-income housing tax credit news, he shares information on the Common Sense Housing Investment Act of 2017, a bill that would reduce the mortgage interest deduction and increase funding for affordable housing. He also discusses public comments on IRS Notice 2016-77. Then he provides details about an upcoming conference call to discuss certificating California state low-income housing tax credits. In new markets tax credit news, he discusses the New Markets Tax Credit Extension Act of 2017, a long-awaited bill to expand and make permanent the federal new markets tax credit. In addition, he outlines a bill to create a state new markets tax credit in Minnesota. He closes out with the historic tax credit section, where he discusses the recently introduced Historic Tax Credit Improvement Act of 2017. 

Published by Michael Novogradac on February 14, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he talks about the appointment of California Democrat Judy Chu to the House Ways and Means Committee. He also provides an update on when there might be tax reform. In low-income housing tax credit news, he has two announcements from the California Tax Credit Allocation Committee. One is an update to the state’s proposed hybrid 9 percent-4 percent low-income housing tax credit. The other announcement is a reminder about the tenant demographic data collection deadline for all low-income housing tax credit properties in California. In new markets tax credit news, he discusses updates to the CDFI Fund’s new markets tax credit certification, compliance monitoring and evaluation FAQs. He also shares some highlights from the CDFI Fund’s fiscal year 2016 in review. He closes out with the historic tax credit section, where he discusses Virginia bill S.B. 1034, legislation that could create a cap on the amount of state historic tax credit that taxpayers can claim per year. 

Published by Michael Novogradac on February 7, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about the confirmation status of Treasury Secretary nominee Steve Mnuchin. He also discusses congressional support for keeping the tax-exempt status of municipal bonds. Then, he discusses the Joint Committee on Taxation’s estimates of expenditures for fiscal years, 2016-2020–including estimates for the low-income housing tax credit, new markets tax credit, historic tax credit and renewable energy tax credits. In low-income housing tax credit news, he shares information about Utah H.B. 36, a bill that would nearly triple Utah’s state low-income housing tax credit annual program cap. In new markets tax credit news, he talks about the Investing in Opportunity Act, a bill reintroduced in Congress that would allow taxpayers to defer capital gains taxes on investments in opportunity zones. He also tells listeners about two reports on native communities and their access to capital and credit. In the historic tax credit section, he shares why the Advisory Council on Historic Preservation’s chairman is endorsing the historic tax credit and what his support could mean for the program in tax reform.

Published by Michael Novogradac on January 31, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he talks about what Treasury Secretary nominee Steven Mnuchin said about tax credits in his written response to questions from members of the Senate Finance Committee. He also has an update on the confirmation of Dr. Ben Carson as Secretary of the Department of Housing and Urban Development. Then he shares news about House Ways and Means Committee member Rep. Lynn Jenkins, R-Kan., and her  announced plans to retire after the 115th Congress. In low-income housing tax credit news, he discusses an unusual hybrid 4 percent- 9 percent low-income housing tax credit plan proposed by the California Tax Credit Allocation Committee as a response to a disrupted low-income housing tax credit equity market. In new markets tax credit news, he talks about a deadline extension to sign the New Markets Tax Credit Coalition’s letter to Congress. And he shares information about a tool that can help qualified active low-income community businesses request new markets tax credits from community development entities. In the historic tax credit section, he gives an overview of some upcoming deadlines for Ohio’s next state historic tax credit allocation round. He closes out with the renewable energy tax credit section, where he discusses the Protection of Military Airfields from Wind Turbine Encroachment Act, two companion bills that were introduced to disallow a renewable energy investment tax credit or production tax credit for new wind turbines built near certain military properties.

Published by Michael Novogradac on January 24, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section with news about Treasury Secretary nominee Steven Mnuchin’s highly anticipated Senate confirmation hearing last week. In low-income housing tax credit news, he talks about the state of the low-income housing tax credit equity market and what states like Ohio are doing to fill the equity shortfall. He also discusses implementation of the Housing Opportunity through Modernization Act of 2016 and expansion of HUD’s Moving to Work program. He outlines President Donald Trump’s suspension of a decrease in the Federal Housing Administration’s mortgage insurance premium. He then talks about the 2017 poverty guidelines released by the Department of Health and Human Services, which allow HUD to calculate its income limits. In new markets tax credit news, he discusses the latest qualified equity investment issuance report and the fiscal year 2017 rounds of the CDFI program and Native CDFI program. In renewable energy tax credit news, he discusses Marathon Capital’s report, “U.S. Federal Corporate Tax Reform: Potential Impact on U.S. Renewable Energy Financing.” Then, he details New Mexico’s recently introduced solar investment tax credit bill, HB 82.

Published by Michael Novogradac on January 17, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section with news about HUD Secretary nominee Ben Carson’s highly anticipated Senate confirmation hearing last week. He provides details on where Carson stands on fair housing, HUD programs and the low-income housing tax credit. He then discusses Rep. Lloyd Doggett’s appointment as the new ranking member of the House Ways and Means Tax Policy Subcommittee. After that, he shares a brief update about the House Ways and Means Committee’s energy tax reform working group. In low-income housing tax credit news, he talks about the report, “California’s Housing Future: Challenges and Opportunities” and what it had to say about how the federal and state low-income housing tax credit can help California address its housing challenges. In new markets tax credit news, he discusses the Creating Opportunities for Rural Communities Act, legislation that was reintroduced in the House (H.R. 405) and Senate (S. 76) to direct more investments to coal communities affected by job losses. Then, he has details about the next Community Development Advisory Board Meeting. He also has an update on the New Markets Tax Credit Coalition sign-on letter in support of expanding and making permanent the New Markets Tax Credit program. In historic tax credit news, he talks about Novogradac’s recent blog post on how tax reform would affect historic tax credit investments. He closes out with renewable energy tax credit news, where he discusses a Virginia bill to create a state renewable energy property credit. 

Published by Michael Novogradac on January 10, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section with news from a busy first week of Congress. He discusses committee leadership appointments and new members of the House and Senate tax-writing committees. He also shares updates on what House Republicans are doing to prepare for writing tax reform legislative language. After that, he reviews more information about HUD Secretary nominee Ben Carson’s scheduled confirmation hearing with the Senate Committee on Banking, Housing and Urban Affairs. And he outlines what outgoing HUD Secretary Julián Castro had to say about the importance of affordable housing–and more specifically, the importance of the low-income housing tax credit. In low-income housing tax credit news, he talks about what a recent Wisconsin Supreme Court ruling on property valuation means for affordable housing in the state. In new markets tax credit news, he shares how listeners can submit comments to the CDFI Fund on its new markets tax credit draft 2018 allocation application and on its CDFI certification requirements. He also shares how to sign a NMTC Coalition letter to Congress in support of expanding and making permanent the new markets tax credit. He closes out with renewable energy tax credit news, where he discusses how two solar industry groups have joined forces to increase capital for solar energy.

Published by Michael Novogradac on January 3, 2017

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he talks about current tax reform and how lowering the corporate tax rate could mean a loss of up to $2.2 billion or more in equity annually for affordable housing. In low-income housing tax credit news, he discusses how Minnesota’s state allocating agency has extended its application deadlines as a response to the equity market disruption caused by potential tax reform. Then, he shares how the 2017 annual adjustment factors for certain Section 8 contracts compare to those of 2016. He closes out with our historic tax credit section, where he’ll have encouraging news about Oklahoma’s popular state historic tax credit.

Published by Michael Novogradac on December 27, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he talks about potential assignments for the tax-writing Senate Finance Committee and House Ways and Means Committee in the next Congress. He also shares news about an upcoming Novogradac webinar on what the election means for affordable housing and community development. In low-income housing tax credit news, he discusses HUD’s fiscal year 2017 annual adjustment factors for Housing Assistance Payment contracts. Then, he has two updates from California, where lawmakers have introduced a bill to boost the state low-income housing tax credit to $300 million per year. He also talks about an announcement from California’s state allocating agency that it will extend the 2016 low-income housing tax credit readiness deadlines for its state program. In new markets tax credit news, he discusses some changes that the CDFI Fund is making to its allocation agreement. He also shares the CDFI Fund’s monthly qualified equity investment issuance report. He concludes with our historic tax credit section, where he talks about the overwhelming support to extend an Illinois historic tax credit program for another year.

Published by Michael Novogradac on December 20, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he discusses a special meeting held by the House Republican Ways and Means members last week, as well as what he thinks GOP leaders hope to accomplish in tax reform. In low-income housing tax credit news, he reviews the Federal Housing Finance Agency’s final rule on Fannie Mae and Freddie Mac’s duty to serve underserved markets–plus, what the final rule means for the low-income housing tax credit equity market. Then he talks briefly about guidance that a recent revenue ruling and IRS notice provided to state allocating agencies on low-income housing tax credits and complying with fair housing rules. In new markets tax credit news, he reviews the CDFI Fund’s planned update of census eligibility and how that affects where new markets tax credit investments can be made. Then, he shares a few key deadlines for the fiscal year 2017 round of the CDFI Bond Guarantee program. In the historic tax credit section, he discusses the Historic Tax Credit Coalition’s urgent call for advocacy action. He closes out with the renewable energy section, where he talks about recent clarification from the IRS on beginning-of-construction deadlines for the investment tax credit and production tax credit.

Published by Michael Novogradac on December 13, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he talks about how Congress last week narrowly prevented a government shutdown. He also discusses what House Republicans are doing this week to prepare for tax reform next year. Then, he names the top three candidates in the running for HUD deputy secretary. After that, he shares some advice on what some have suggested Ben Carson should prioritize after he’s confirmed as HUD secretary. In low-income housing tax credit news, he describes what’s going on in the tax credit equity market and what some state allocating agencies have done to address developer and investor concerns. He closes out with a report finding that there’s little to no evidence linking low-income housing tax credit housing to increases in concentrated poverty.

Published by Michael Novogradac on December 6, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section, where he talks about President-elect Donald Trump’s pick for Treasury Secretary, Steven Mnuchin, and what Mnuchin has planned for Trump’s first 90 days in office. He then talks about Trump’s nomination of Ben Carson as HUD Secretary and shares his thoughts on what Carson’s appointment could mean for affordable housing. After that, he discusses how Rep. Richard Neal has become the top Democrat on the House’s powerful Ways and Means Committee. Then, he looks at where lawmakers stand on passing a continuing resolution and certain tax extenders. In low-income housing tax credit news, he highlights some of the important points in California’s new final proposed regulations for the low-income housing tax credit. In new markets tax credit news, he shares with listeners a list of qualified equity investment issuance thresholds that new markets tax credit allocatees need to meet to be eligible for another allocation. And he closes out with the historic tax credit section, where he provides an update on Illinois’ state historic tax credit that is scheduled to expire at the end of this month, but is only one signature away from being extended another year.

Published by Michael Novogradac on November 29, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he provides an update on Dr. Ben Carson’s likelihood of becoming the next Secretary of the U.S. Department of Housing and Urban Development. He also talks about what congressional leaders are planning to do to keep the government funded past the Dec. 9 expiration of stopgap funding. In low-income housing tax credit news, he talks about the effect that the talk of the possibility of corporate tax reform is having on the current investment interest of many LIHTC corporate investors. He also discusses a GAO report on the role that Fannie Mae and Freddie Mac should play in housing finance. In new markets tax credit news, he shares a quick update for awardees of the 2015-2016 new markets tax credit allocation round about when they can expect to close allocation agreements. Then, he discusses a new bill that would create a new markets tax credit allocation set-aside for investments in low-income coal communities. In the historic tax credit section, he outlines some updates made to Texas state historic tax credit regulations. And he closes out with renewable energy tax credit news, where he shares with listeners what Trump said about wind energy tax credits in his recent interview with the New York Times. I’ll also talks about a report on what could happen to solar energy investments if the investment tax credit were repealed.

Published by Michael Novogradac on November 22, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section, where he talks about which candidates may be in line to lead Treasury and HUD in a Trump administration. In the low-income housing tax credit section, he shares updates about HUD’s final rule on small area fair market rents. He’ll also talk about an idea for a renter’s tax credit and how it aims to alleviate rent burdens for low-income households. In new markets tax credit news, he shares details and some insights on the highly anticipated announcement of the CDFI Fund’s $7 billion in new markets tax credit allocation authority. In the historic tax credit section, he discusses one way the Advisory Council on Historic Preservation is emphasizing the importance of the historic tax credit and low-income housing tax credit as preservation tools. And, he closes out with renewable energy tax credit news, where he outlines state legislation in Utah to phase out the state’s tax credit for commercial solar installation.

Published by Michael Novogradac on November 15, 2016

In this week’s Special Election Edition of the Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the possible policy implications of the historic 2016 presidential and congressional elections. He discusses House and Senate leadership, as well as likely assignments for the chief tax-writing committees: the House Ways and Means Committee and the Senate Finance Committee. He also talks about potential candidates for a new U.S. Department of Housing and Urban Development (HUD) Secretary and how priorities outlined in the House Republicans’ tax reform blueprint could affect the low-income housing tax credit, new markets tax credit, historic tax credit and renewable energy tax credits.

Published on November 8, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he talks about what’s at stake on Election Day, in addition to the presidential race: how many congressional seats are up for election, who’s not seeking reelection and how election results could shake up committee assignments. In the low-income housing tax credit section, he shares news about Novogradac & Company’s mapping tool with updated information on difficult development areas and qualified census tracts. Then, he discusses a sign-on letter that a group of public housing authorities is circulating in support of expanding HUD’s Rental Assistance Demonstration program. In state housing news, he provides an update on Nebraska’s newly created state low-income housing tax credit. In new markets tax credit news, he shares the latest qualified equity investment issuance report details. In the historic tax credit section, he discusses an economic progress report on the Nebraska’s state historic tax credit program. And, he closes out with renewable energy tax credit news, where he discusses an important court decision regarding wind project partners and their claim to Section 1603 cash grants.

Published by Michael Novogradac on November 1, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he talks about how Paul Ryan’s bid to keep his job as speaker of the House could affect the future of tax reform. In the low-income housing tax credit section, he discusses the inflation-adjustment caps for the low-income housing tax credits and private activity bonds in 2017. He also talks about HUD’s initial guidance for the Housing Opportunities through Modernization Act. In community development news, he outlines the CDFI Fund’s five-year strategic plan and how it’ll affect administration of CDFI Fund programs, including the new markets tax credit. In the historic tax credit section, he talks about a sign-on letter being circulated by historic preservation groups to ramp up support for the Historic Tax Credit Improvement Act. He closes with renewable energy tax credit news, where he discusses some important deadlines regarding the renewable energy investment tax credit and production tax credit.

Published by Michael Novogradac on October 25, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about what congressional leaders have in mind for tax reform. In the low-income housing tax credit section, he discusses how $2.6 million unused low-income housing tax credits will be reallocated for 2017. He also outlines HUD’s announcement of difficult development areas and qualified census tracts for 2017. After that, he moves on to a HUD final rule that explicitly excludes tax credit investors from previous participation reviews. In community development news, he tells listeners about the CDFI Fund’s draft of its allocation agreement for the upcoming new markets tax credit allocation round and how to submit comments on it. He also highlights H.R. 6213, a new bill that could help increase the amount of new markets tax credit investments in tribal communities. In the historic tax credit section, he summarizes a letter that the Historic Tax Credit Coalition sent to the IRS regarding the proposed temporary regulations on Section 50(d) income. And, he closes out with renewable energy tax credit news, where he discusses a U.S. Energy Information Administration report what role  the investment tax credit and the production tax credit play in the future of carbon dioxide emissions.

Published by Michael Novogradac on October 18, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he discusses the work in store for Congress when it reconvenes next month, after the elections. He also outlines the options for passing a spending package and how tax extenders fit into the agenda. In the low-income housing tax credit section, he discusses what kind of tax relief is available for areas affected by Hurricane Matthew. Then, he shares a report by the National Low Income Housing Coalition on how the shortage of housing choice vouchers and public housing units points to the importance of the low-income housing tax credit. In new markets tax credit news, he talks about when the $7 billion new markets tax credit allocation announcement is expected and what listeners can do to prepare for the upcoming round. In the historic tax credit section, he details a chief council advice memorandum released by the IRS requiring a pass-through entity in a historic tax credit transaction to file the Form 3468 used to claim the credit.  And, he closes out with renewable energy tax credit news, where he shares renewable energy tax credit regulation changes in one of the top wind power producing states in the country, Iowa.

Published by Novogradac & Company LLP on October 11, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he discusses a recent report from the Federal Housing Finance Agency on how federal home loan banks have helped boost investments in low-income housing and community development. In the low-income housing tax credit section, he tells listeners about HUD’s proposed energy benchmarking for assisted multifamily housing and public housing agencies. He also discusses a state law passed in California that allows local school districts to create housing programs for its employees, using federal and state low-income housing tax credits. In new markets tax credit news, he discusses how much new markets tax credit allocation authority was finalized by allocatees in the past month. In the historic tax credit section, he talks about the National Trust for Historic Preservation’s list of 11 Most Endangered Historic Places and the role that historic tax credits could play in preserving those places. And, he closes with renewable energy tax credit news, where he covers a report on how widely U.S. energy services companies use renewable energy tax credits.

Published by Novogradac & Company LLP on October 4, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section where he discusses what lawmakers did to avoid a federal government shutdown last week and what unfinished business they’ll have to address when they reconvene after the election. In the low-income housing tax credit section, he discusses HUD’s invitation for comments on closing documents for its Rental Assistance Demonstration or RAD program. Then, he shares updated ACTION Campaign state and district fact sheets that illustrate what the low-income housing tax credit has accomplished in each state and district. After that, he talks about the Emergency East Chicago Relief Act of 2016 (H.R. 6166), a bill that would temporarily increase the low-income housing tax credit allocation in Indiana. Then, he provides an update on a California A.B. 1920, which will give the California Tax Credit Allocation Committee (TCAC) the power to enforce fines for compliance violations. In new markets tax credit news, he discusses the CDFI Fund’s recent award of more than $185 million in grants and loans through the 2016 rounds of the Community Development Financial Institutions program and the Native American CDFI Assistance program. In the historic tax credit section, he talks about the action that the city of Wheeling in West Virginia is taking to support the increase of its state historic tax credit from 10 percent to 25 percent. And, he closes out with renewable energy tax credit news, where he covers an update to the Offshore WIND Act, a bill that would extend the 30 percent renewable energy investment tax credit for offshore wind developments for six additional years.

Published by Michael Novogradac on September 27, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he discusses the Louisiana Flood and Storm Devastation Tax Relief Act of 2016 (H.R. 6137). In the low-income housing tax credit section, he discusses the Middle-Income Housing Tax Credit Act of 2016 (S. 3384), a bill that would create the middle-income version of the low-income housing tax credit. After that, he shares an update on Inclusive Communities Project Inc. v. the Texas Department of Housing and Community Affairs, a fair housing case that could change how state agencies across the country allocate low-income housing tax credits. Then, he provides a brief reminder of upcoming HUD deadlines for closing mixed-finance transactions before the end of the year. After that, he talks about a new progress report from HUD on its Rental Assistance Demonstration or RAD program. Then he rounds out the housing section with state news from Nebraska, where the state allocating agency said it would delay publishing proposed rules for its state low-income housing tax credit. In new markets tax credit news, he discusses the CDFI Fund’s announcement of the first Capital Magnet Fund awards since 2010. And in other CDFI news, he congratulates Lisa Jones of the CDFI Fund who was honored with a civic service award for her work to start the CDFI Bond Guarantee program. In the historic tax credit section, he talks about the launch of the Novogradac Historic Tax Credit Mapping Tool and how it can help historic tax credit developers and investors plan future projects. And he closes out with renewable energy tax credit news, where he touches on a letter submitted to Congress by more than 50 businesses that are pushing for certain renewable energy tax extenders this year.

Published by Michael Novogradac on September 20, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he outlines Donald Trump’s recently released tax reform plan and what certain provisions could mean for the tax credit community. In the low-income housing tax credit section, he touches briefly on a Massachusetts Superior Court ruling last week that affirms a low-income housing tax credit sponsor’s right of first refusal. Then, he discusses HUD’s final rule on evaluating Fair Housing Act harassment complaints. He rounds off the housing section with two state updates. The first is a Georgia court ruling on how low-income housing tax credits are assessed in property valuations. The second state update is from California, where the state allocation agency has proposed more than a hundred changes to its state low-income housing tax credit regulations. In new markets tax credit news, he discusses Bill Clinton’s continued support of the New Markets Tax Credit that he signed into law when he was president. In the historic tax credit section, he talks about an upcoming report that may give good reason why the now-expired Alabama state historic tax credit program should be extended. And, he closes out with renewable energy tax credit news, where he shares a report on offshore wind projects and how tax credits can play a role in their future.

Published by Michael Novogradac on September 13, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he discusses Congressional plans to pass a continuing resolution and avoid a government shutdown. In the low-income housing tax credit section, he shares an update on the Affordable Housing Credit Improvement Act of 2016. He also discusses a California state bill that would give the California Tax Credit Allocation Committee a more efficient way to enforce compliance regulations. In new markets tax credit news, he announces the winners of the 2016 Novogradac Journal of Tax Credits Community Development QLICIs of the Year Awards. In the historic tax credit section, he briefly outlines recent regulatory changes to Maryland’s state historic tax credit program. And, he closes out with renewable energy tax credit news, where he talks about a recent report on the future of wind power generation. He also discusses a letter that clean energy businesses have sent to Congress regarding a tax credit extension for certain renewable energy technologies.

Published by Michael Novogradac on September 6, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, which will include key dates for Congress as the fiscal and calendar years draw to a close. He talks about what deadlines lawmakers need to meet in order to avoid a government shutdown and expiration of certain tax credits. In the low-income housing tax credit section, he shares a recent audit report on Virginia’s administration of its Section 1602 program, cash grants in lieu of the low-income housing tax credit. He also highlights a few case studies released by the Urban Institute that show why preserving affordable housing is critical to the well-being of communities. In new markets tax credit news, he discusses a guest column that Rep. Pat Tiberi wrote on the importance of making the new markets tax credit a permanent part of the tax code. He also shares the latest NMTC Qualified Equity Investment Issuance Report. In the historic tax credit section, he gives an update on two states that are considering the future of their state historic tax credit programs as they keep in mind budget concerns. And, he closes out with renewable energy tax credit news, where he talks about a letter sent by a conservative coalition that opposes the extension of the investment tax credit for certain technologies.

Published by Novogradac & Company LLP on August 30, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section, where he talks about bonus depreciation guidance issued by the IRS last week through Revenue Procedure 2016-48. In the low-income housing tax credit section, he shares the recently released fiscal year 2017 fair market rents. Then, he talks about an important fair housing discrimination lawsuit that was dismissed last week, the Inclusive Communities Project Inc. vs. the Texas Department of Housing and Community Affairs. He also has news about how listeners can comment on HUD’s fair housing Local Government Assessment tool. In new markets tax credit news, he talks about how one new community development entity in the Northern Mariana Islands has the potential to bring the new markets tax credit to the U.S. territory for the first time. In the historic tax credit section, he discusses a recent historic preservation milestone that Montana recently reached. And he closes out with renewable energy tax credit news, where he shares projections of solar tax credit redemptions in Iowa. 

Published by Michael Novogradac on August 23, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac begins with the general news section, where he talks about the IRS 2016-2017 Priority Guidance Plan and fourth-quarter update to its 2015-2016 plan. In low-income housing tax credit news, he discusses the Federal Housing Finance Agency raising multifamily caps for Fannie Mae and Freddie Mac. He also discusses what two California housing agencies recommend to address the issue of high development costs when building affordable housing. In new markets tax credit news, he talks about the CDFI Fund’s NMTC Public Data Release: 2003-2014 Summary Report. He also shares briefly how much qualified equity investment was issued in the CDFI Fund’s latest qualified equity investment issuance report. In the historic tax credit section, he announces the 2016 winners of the Novogradac Journal of Tax Credit Historic Rehabilitation Awards. He closes out with renewable energy tax credit news, where he shares findings from the U.S. Department of Energy 2015 Wind Technologies Market Report.

Published by Michael Novogradac on August 9, 2016

In this week’s Tax Credit Tuesday Podcast, Peter J. Lawrence begins with the general news section, where he talks about temporary regulations that the IRS released last week on electing into the partnership audit regime under the Bipartisan Budget Act of 2015. In the low-income housing tax credit section, he shares some stats from the “CDFA Annual Volume Cap Report: Analysis of 2015 Private Activity Bond & Volume Cap Trends.” He also has an update on national efforts to eliminate homelessness among veterans. And he discusses findings from the “Housing is a Foundation: 2016 PAHRC Report.” In new markets tax credit news, he talks about how listeners can provide the CDFI Fund with feedback on its allocation tracking system. In the historic tax credit section, he shares details on the National Park Service’s call for comments on its certification application. And he closes out with renewable energy tax credit news, where he discusses a report on how extension of the investment tax credit shifted solar installation forecasts for 2016 and 2017.

Published by Michael Novogradac on August 2, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section where he talks about the recently approved 2016 Democrat Party platform, how it compares to the Republican platform and what those priorities could mean for affordable housing, community development and renewable energy. In the low-income housing tax credit section, he shares an update on the Housing Opportunity through Modernization Act of 2016 (H.R. 3700), which President Barack Obama recently signed into law and will modify several housing programs, including Section 8 and public housing. Then, he talks about a new tool released by the Urban Institute and the National Housing Conference that shows why the low-income housing tax credit is crucial to building affordable housing. In new markets tax credit news, he discusses the Rebuilding and Renewing Rural America Act (S. 3243), a recently introduced bill that would double new markets tax credit allocation authority to $7 billion annually for the next three years. In the historic tax credit section, he shares an updated resource from the National Trust that could help historic tax credit advocates illustrate how effectively the federal historic tax credit creates jobs and generates revenue in each state. And he closes out with renewable energy tax credit news, where he discusses how Louisiana’s solar energy system tax credit reached its allocation cap early.

Published by Michael Novogradac on July 26, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section where he talks about long-awaited guidance on Section 50(d) income inclusion rules and how they affect tax credit partnerships. In the low-income housing tax credit section, he talks about what some stakeholders said about the FHFA’s proposed rule on Fannie Mae and Freddie Mac’s “duty to serve” underserved markets—particularly about what role Fannie and Freddie should play in the low-income housing tax credit market. In new markets tax credit news, he discusses a recent data release on CDFI loans and investments. He also shares news about Kentucky opening the application round for its state new markets tax credit program. In the historic tax credit section, he provides details about some upcoming application deadlines for Ohio’s Historic Preservation Tax Credit program. And he closes out with renewable energy tax credit news, where he discusses “Annual Energy Outlook 2016,” a report that compares projections of future clean energy growth with and without tax credits. 

Published by Michael Novogradac on July 19, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about the Republican and Democratic conventions and what each party has outlined as its priorities, as they relate to affordable housing and energy policy. He also discusses new Community Reinvestment Act regulation guidance and what one particular change could mean for the historic tax credit industry. In the low-income housing tax credit section, he shares big news on two pieces of legislation. The Affordable Housing Credit Improvement Act of 2016 (S. 3237) would greatly expand the low-income housing tax credit and make numerous enhancements to the program, while the Housing Opportunity through Modernization Act of 2016 (H.R. 3700) makes significant changes to several housing programs, especially HUD’s Section 8 Housing Choice Voucher program. Then, he talks about a new housing choice voucher fee formula proposed by HUD that could make administration of vouchers more efficient. In new markets tax credit news, he discusses how new rules issued by the Department of Agriculture would align USDA’s Business and Industry Guaranteed Loan program with new markets tax credit leverage and qualified low-income community investment loans. In the historic tax credit section, he shares news about the Advisory Council on Historic Preservation’s newly appointed and reappointed members. And he closes out with renewable energy tax credit news, where he outlines one federal bill (S. 3169) that would eliminate the wind production tax credit two years earlier than scheduled and the Energy Storage Tax Incentive and Deployment Act of 2016 (S. 3159), which  would create a new investment tax credit for energy storage.

Published by Michael Novogradac on July 12, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section, where he shares what Congress hopes to achieve in the final few days before it takes a long recess. He will also let listeners know about the potential release of a plan by Senate Finance Committee Chairman Orrin Hatch that could have a significant impact on corporate tax reform, including some details of what might be included. In the low-income housing tax credit section, he discusses how two changes in California’s state low-income housing tax credit will make the credit more valuable and versatile. He will also look at a change in Hawaii that makes its state low-income housing tax credit more valuable. In new markets tax credit news, he shares the latest Qualified Equity Investment issuance report and how much allocation authority has been issued to investors in the past month. In the historic tax credit section, he talks about an upcoming meeting of the Advisory Council on Historic Preservation. And he closes out with renewable energy tax credit news, where he tells listeners about New Mexico’s state renewable energy tax credit, which has already reached its cap this year.

Published by Novogradac & Company LLP on June 28, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section where he shares details from the House Republican tax reform plan released on Friday and a bill that would put partnerships on level ground with corporations when it comes to paying taxes on such things as grants from state or local governments. In the low-income housing tax credit section, he discusses two bills that would drastically change the way certain housing subsidies are administered. He also discusses the latest “State of the Nation’s Housing Report.” In new markets tax credit news, he shares some good news about Enterprise Zone designations that will benefit businesses across the country. In the historic tax credit section, he talks about the latest guidance released by the National Park Service on seismic rehabilitation of historic properties. He closes out with renewable energy tax credit news, where he highlights a bill that would create a 30 percent investment tax credit for renewable energy storage.

 

Published by Michael Novogradac on June 21, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins the general news section with an announcement of the 2016 distressed or underserved non-metropolitan, middle-income geographies where qualified community development activities would qualify for Community Reinvestment Act consideration. In the low-income housing tax credit section, he discusses details of the Federal Housing Finance Agency’s 2015 Report to Congress. He will also talk about a proposed rule change on how Housing Choice Vouchers would be administered in certain metropolitan areas. In new markets tax credit news, he shares news about a competition hosted by the CDFI Fund to encourage innovative ideas in serving underserved communities. In the historic tax credit section, he discusses a useful new source of gap financing for Ohio developers. And he closes out with renewable energy tax credit news, where he recaps last week’s Senate Finance Committee hearing on energy tax incentives. He will also outline a new bill that was introduced to encourage investment in offshore wind projects.

Published by Novogradac & Company LLP on June 14, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section where he describes a comprehensive anti-poverty plan released by House Republican leaders and how the plan can potentially influence tax reform discussions. In the low-income housing tax credit section, he discusses new legislation that was introduced to completely restructure nearly all federal affordable housing programs into a single block grant. Then, he talks about what one report from the Government Accountability Office discovered about compliance issues and the administration of the low-income housing tax credit. After that, he shares news about one state’s successful efforts to extend its state low-income housing tax credit for three years. In new markets tax credit news, he highlights the latest New Markets Tax Credit Progress Report. He also shares a newsletter from the Office of the Comptroller of the Currency on how health care centers and community development incentives can be a great fit for each other. In the historic tax credit section, he briefly discusses changes made to Iowa’s state historic tax credit that make it more attractive to more investors. And he closes out with renewable energy tax credit news, where he talks about Senate Finance Committee Chairman Orrin Hatch’s latest inquiries into administration of the Section 1603 cash grant and renewable energy incentive programs. After that, he outlines a report from the Joint Committee on Taxation about the different energy tax incentives offered by the federal government.

Published by Novogradac & Company LLP on June 7, 2016

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section, where he shares an invitation from the Treasury Department to comment on the Capital Magnet Fund application process and annual report. He also touches on what representatives from the IRS, Treasury and CDFI Fund had to say recently about the lowincome housing tax credit, new markets tax credit and historic tax credit. In the low-income housing tax credit section, he discusses the National Low Income Housing Coalition’s report on some of the reasons why affordable housing is out of reach for a growing number of renter households. He then previews the State of the Nation’s Housing report, which will be released by the Joint Center for Housing Studies this month. In state housing news, he discusses one California bill that could make the state low-income housing tax credit more attractive to investors. In new markets tax credit news, he shares the latest Qualified Equity Investment issuance report and how much allocation authority has been issued to investors in the past month. In the historic tax credit section, he discusses what one Treasury Inspector General for Tax Administration audit found about oversight of historic rehabilitation tax credit claims. And he closes out with renewable energy tax credit news, where he provides a leadership update from the Solar Energy Industries Association.

Published by Novogradac & Company LLP on May 31, 2016

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.

Published by Novogradac & Company LLP on May 24, 2016

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.

Published by Novogradac & Company LLP on May 17, 2016

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.

Published by Novogradac & Company LLP on May 10, 2016

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with a brief recap of where presidential candidates stand after last week’s Indiana contests. He’ll also touch on a tax overhaul hearing scheduled by the House Ways and Means Tax Policy Subcommittee this week. In the low-income housing tax credit section, he discusses how much will be available for the inaugural allocation of the National Housing Trust Fund. Then, he discusses the Federal Housing Finance Agency’s adjustment of multifamily lending caps for Fannie Mae and Freddie Mac. After that, he shares one report’s findings about the potential benefits of clustering low-income housing tax credit properties in low-income areas. In new markets tax credit news, he talks about a Dear Colleague letter that urges House Ways and Means Committee leadership to make the NMTC a legislative priority. Then, he discusses a bill designed to attract more investments in economically distressed communities. In the historic tax credit section, he shares how listeners can submit nominations for the National Trust for Historic Preservation’s 11 Most Endangered Historic Places. In state historic tax credit news, he talks about a proposal in Mississippi to double the state historic tax credit’s program cap and has breaking news on the state historic tax credit in Alabama. And he closes out with renewable energy tax credit news, where he talks about new IRS guidance on safe harbors and the production tax credit. Finally, he’ll discuss a milestone recently achieved by the renewable energy industry.

Published by Novogradac & Company LLP on May 3, 2016

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with a brief look at the presidential primary races. He also looks at a business depreciation proposal by Senate Finance Committee Ranking Member Ron Wyden.  In the low-income housing tax credit section, he outlines a new bill that would reform tenant screening and eviction policies for HUD-assisted properties—specifically, relating to tenants and potential tenants with criminal backgrounds. In new markets tax credit news, he talks about an upcoming meeting for the CDFI Fund’s Community Development Advisory Board. In the historic tax credit section, he discusses a recent hearing on Ohio’s state historic tax credit program and a proposal to turn the tax credit into a grant. And he closes out with renewable energy tax credit news, where he talks about a legislative amendment that could reallocate millions of dollars to wind energy research.

Published by Novogradac & Company LLP on April 26, 2016

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news, where he provides a brief look at the presidential primary races. Then, he reviews a recently released memo from the IRS Office of Chief Counsel, which provides additional indications as to how the IRS views certain carve-out guarantees of otherwise nonrecourse partnership loans. In the low-income housing tax credit section, he outlines the bill that the Senate Appropriations Committee last week approved regarding funding for transportation and HUD in fiscal year 2017. After that, he discusses how two Louisiana state bills could change the way property taxes for low-income housing tax credit developments are calculated. In new markets tax credit news, he talks about the CDFI Fund’s exciting announcement that $7 billion of new markets tax credit allocation authority will be awarded later this year. In the historic tax credit section, he discusses why efforts to extend the state historic tax credit in Alabama may have hit a wall, despite being passed in one chamber of the legislature by a vote of 91-4. And he closes out with renewable energy tax credit news, where he talks about how certain technologies “orphaned” by last year’s energy investment tax credit extension might find another legislative vehicle before the end of the year.

Published by Novogradac & Company LLP on April 19, 2016

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with a brief look at the presidential primary races in New York today. Then, he discusses a recent hearing on tax reform proposals and how they could affect key tax credit programs. In affordable housing news, he has a brief note on today’s markup of the Transportation, Housing and Urban Development and Related Agencies Appropriations Act for Fiscal Year 2017. Then, he shares how listeners can calculate low-income housing tax credit rent and income limits for every Metropolitan Statistical Area in the country for free. After that, he talks about which state is temporarily suspending its utility allowance for low-income housing tax credit properties. In the new markets tax credit section, he shares some breaking news about calendar years 2015 and 2016 allocation rounds. Then, he has a preview of an upcoming new markets tax credit market report that will debut in next month’s issue of the Novogradac Journal of Tax Credits. In the historic tax credit section, he talks about an Illinois bill that would extend the state historic tax credit sunset five years until 2022. And he closes out with renewable energy tax credit news, where he shares the status of a potential vehicle for renewable energy investment tax credits to be extended for certain clean energy technologies. He also discusses a new report on how renewable energy production tax credits have helped increase wind energy jobs across the country.

Published by Novogradac & Company LLP on April 12, 2016

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section, where he provides an update for listeners on the presidential primaries. In the low-income housing tax credit section, he discusses recent HUD guidance on how the Fair Housing Act relates to housing restrictions based on criminal history. Then, he shares a HUD report on tenants living in low-income housing tax credit homes. After that, he provides a brief update on one state’s extension of its state low-income housing tax credit program. In new markets tax credit news, he has a preview of what the New Markets Tax Credit Working Group is putting together regarding equal opportunity requirements for entities receiving CDFI Fund assistance. In the historic tax credit section, he talks about which state is one step closer to extending its state historic tax credit through the year 2022. And he closes out with renewable energy tax credit news, where he discusses a potential vehicle for the renewable energy investment tax credit extension expansion to certain clean energy technologies.

Published by Novogradac & Company LLP on April 5, 2016

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with the general news section begins with a brief update on the presidential primary races. Then, he talks about how some experts predict the next president could affect the chances of comprehensive tax reform. In the low-income housing tax credit section, he discusses the 2016 income limits and the amount of low-income housing tax credit authority each state will get. He also shares a milestone of HUD’s Rental Assistance Demonstration or RAD program. In new markets tax credit news, he tells listeners how they can comment on regulation that requires banks to report community development investments to the OCC. In the historic tax credit section, he talks about two bills to authorize more funding for the Mississippi state historic tax credit program. And he closes out with renewable energy tax credit news, where he discusses how the renewable energy investment tax credit could affect the amount of energy storage in the United States.

Published by Michael Novogradac on March 29, 2016

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section, where he provides an update on the presidential primaries. Then, he touches on legislation that Congress has sent to the President, for his signature, that could affect the future of various spending and tax expenditure programs. Also, he shares where listeners can go to learn more about the Joint Committee on Taxation’s (JCT’s) estimates of President Obama’s fiscal year 2017 tax proposals, and how the JCT estimates compare to projections previously prepared by the Office of Management and Budget. In the low-income housing tax credit section, he discusses one senator’s campaign to expand the low-income housing tax credit allocation by 50 percent. He will also talk about another lawmaker’s $13.3 billion proposal to fund programs that combat homelessness. After that, he shares news on how to comment on HUD’s fair housing assessment tools. In new markets tax credit news, he talks about an IRS notice that allows state or local governments to automatically extend empowerment zones through the end of this year. In the historic tax credit section, he talks about what action was taken to clarify provisions of the Louisiana state historic tax credit program. And he closes out with renewable energy tax credit news, where he announces the winners of the 2016 Novogradac Renewable Energy Power Awards.

Published by Michael Novogradac on March 22, 2016

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with an update on the presidential primaries. Then, he touches briefly on a tax reform hearing scheduled for today in the House Ways and Means Tax Policy Subcommittee. After that, he discusses the IRS’ plans to prioritize the guidance it will issue for 2016 and 2017. Then, he’ll share news about a deadline extension to comment on the IRS’ new partnership audit rules. In the low-income housing tax credit section, he discusses the course of action that the California Tax Credit Allocation Committee is considering to address over-allocation of its state low-income housing tax credits. In new markets tax credit news, he talks about the deadline extension to comment on the Capital Magnet Fund’s interim rule. In the historic tax credit section, he’ll have updates on a state historic tax credit program that has narrowly escaped being put on ice for two years. And he closes out with renewable energy tax credit news, where he discusses efforts to extend tax credits for certain renewable energy technologies that weren’t included in the recent extension of the investment tax credit.

Published by Michael Novogradac on March 15, 2016

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section, where he provides an update on the presidential primaries. Then, he covers what some Congress members are doing to promote funding for certain housing and economic development programs. In the low-income housing tax credit section, he discusses what one coalition of affordable housing investors had to say about Fannie Mae and Freddie Mac resuming low-income housing tax credit investments. He also talks about HUD’s efforts to streamline administration of its multifamily programs. After that, he will give a reminder about an upcoming Real Estate Assessment Center deadline. In new markets tax credit news, he shares highlights from a speech delivered last week by CDFI Fund Director Annie Donovan and what she outlined as a framework for the future of CDFIs. Next, he shares how much funding will be available for the fiscal year 2016 round of the Capital Magnet Fund. In the historic tax credit section, he has details for listeners on the long-awaited Senate version of the Historic Tax Credit Improvement Act of 2015. He compares and contrasts the Senate bill with the House version introduced in October. In state-level news, he summarizes two new Alabama bills introduced to extend the state historic tax credit program. And he closes out with renewable energy tax credit news, where he discuss one U.S. senator’s proposal to extend the renewable energy investment tax credit through the year 2025.

Published by Michael Novogradac on March 8, 2016

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off this week’s podcast with the general news section, where he provides an update for listeners on the presidential primaries. He also discusses how the IRS’s new partnership audit provisions could affect tax credit partnerships. In the low-income housing tax credit section, he shares what HUD Secretary Julian Castro had to say at a hearing last week about the president’s proposed budget increase for HUD. Then, he discusses new regulations regarding utility allowance regulations and how property managers can make sure to remain in compliance. After that, he talks about an advocacy letter that urges lawmakers to expand the low-income housing tax credit. In new markets tax credit news, he provides the important details CDFIs need to know about the CDFI Fund’s new annual certification report. He also shares the CDFI Fund’s latest new markets tax credit qualified equity investment issuance report. Then in the historic tax credit section, he talks about highlights from the National Park Service’s annual report and analysis on the federal historic tax credit. And he closes out with renewable energy tax credit news, where he summarizes a report on how expanded tax credit programs through the Recovery Act helped increase clean energy investments across the country.

Published by Michael Novogradac on March 1, 2016

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins this week’s podcast with the general news section, where he recaps the South Carolina Democratic presidential primary and Nevada Republican caucus results and he will provide a rundown on the state delegates at stake in today’s Super Tuesday primaries. In the low-income housing tax credit section, he shares news about updated compliance monitoring regulations for the lowincome housing tax credit and remind listeners about the HUD budget hearing scheduled for today. In new markets tax credit news, he talks about updates to the frequently asked questions document for Capital Magnet Fund applicants. He also shares how listeners can learn about new markets tax credit basics anytime, anywhere with our Novogradac on-demand course, NMTC 101: The Basics. Then in the historic tax credit section, he has an update on one Maryland county’s successful campaign to create a local historic tax credit program. And he closes out with renewable energy tax credit news where he discusses possible implications of the renewable energy tax credit extensions through 2021. 

Published by Michael Novogradac on February 23, 2016

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he discusses the results of the South Carolina presidential primary and Nevada caucus. In the low-income housing tax credit section, he shares news about fiscal year 2016 allocations through HUD’s Public Housing Capital Fund. Then, he talks about a recent report on the challenges faced by low- and moderate-income working renter households. In new markets tax credit news, he talks about the availability of fiscal year 2016 funding for the CDFI Program and the Native American CDFI Assistance Program. He also has a reminder about the upcoming deadline to submit nominations for the Novogradac Community Development Individual Achievement Awards. Then in the historic tax credit section, he shares what leaders of the National Park Service and the National Conference of State Historic Preservation Officers had to say about a bill that would reauthorize the Historic Preservation Fund for another 10 years. And he closes out with renewable energy tax credit news where he discusses recent comments made by energy industry groups about the potential use of renewable energy tax credits for facilities that store but don’t produce electricity. He also has an update on efforts to extend New Mexico’s rooftop solar tax credit. 

Published by Michael Novogradac on February 16, 2016

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section, where he provides a detailed description of the president’s proposed budget for fiscal year 2017. He talks about how the proposals would affect HUD, the low-income housing tax credit, the new markets tax credit and renewable energy investment and production tax credits. He also discusses a new congressional task force that was created to address the issue of tax reform this year. In the low-income housing tax credit section, he shares two pieces of news for affordable housing. One is about an inclusionary housing policy in the San Francisco Bay Area. The other is one state’s proposal to create its own low-income housing tax credit. In new markets tax credit news, he talks about a new report from Enterprise Community Partners Inc. that includes a host of housing and community development policy recommendations, one of them to make permanent and expand the new markets tax credit. Then in the historic tax credit section, he talks about an Oklahoma bill that would greatly endanger historic preservation there by suspending the state historic tax credit for two years. And he closes out with renewable energy tax credit news where he discusses how listeners can join HUD’s Better Building Challenge to increase energy efficiency in developments. 

Published by Michael Novogradac on February 9, 2016

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off this week’s podcast with the general news section, where he talks about the planned release of the president’s fiscal year 2017 budget proposal and what hearings will be held this week to discuss the president’s plan. Then, he discusses the Federal Housing Administration’s first update of its Multifamily Accelerated Processing, or MAP, Guide since 2011. In the low-income housing tax credit section, he provides details on federal legislation that would make a number of reforms to the housing choice voucher and project-based voucher programs. Then, he discusses how HUD may address the issue of providing public housing to families whose incomes rise significantly above initial limits. In new markets tax credit news, he talks about the opening of the fiscal year 2016 funding round of the Capital Magnet Fund and he shares information about the CDFI Bond Guarantee program. Also in the new markets tax credit section, he shares the amount of qualified equity investment issued in the past month. Then in the historic tax credit section, he talks about report findings on the value of the state historic tax credit in Alabama and about the efforts to renew the program for another seven years. He closes out with renewable energy tax credit news where he discusses a legislative change to North Dakota’s wind energy tax credit that could greatly benefit developers. 

Published by Michael Novogradac on February 2, 2016

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section, where he talks about the results of last night’s presidential caucus in Iowa. In the low-income housing tax credit section, he provides an update on when listeners can expect HUD to release income limits for fiscal year 2016. Then, he talks about how a separate announcement from HUD last week will come as good news for multifamily affordable and energy-efficient properties. In new markets tax credit news, he discusses demand for new markets tax credit allocation authority under the 2015 round and how it compares to demand last year. Then in the historic tax credit section, he talks about a proposed law in Michigan that could endanger historic districts across the state. And he closes out with renewable energy tax credit news where he discusses efforts to extend New Mexico’s solar market development tax credit. 

Published by Michael Novogradac on January 26, 2016

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about the Congressional Budget Office’s updated budget and economic outlook for the next decade. Then, he shares news about the appointment of three senior staff members to the House Ways and Means Committee, followed by an announcement about the Ways and Means Committee’s first meeting of the year. In the lowincome housing tax credit section, he discusses the Treasury Department’s audit of the Section 1602 program in North Dakota. In new markets tax credit news, he highlights a tax extenders provision that is often overlooked, but that can be a game changer for investments in lowpopulation census tracts. Then in the historic tax credit section, he talks about a milestone in historic preservation and how listeners can share their thoughts on the challenges and opportunities facing national historic preservation. In state-level news, he discusses recent amendments to Virginia’s state historic tax credit regulations. And he closes out with renewable energy tax credit news where he talks about a report that calls wind energy the most costeffective way to cut carbon pollution and he tells listeners about how renewable energy tax credits fall into the mix. 

Published by Michael Novogradac on January 19, 2016

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section, where he talks about what the president said—or didn’t say—about tax reform during his State of the Union address last week. He also discusses a list of tax provisions that are scheduled to expire in the next decade. In the low-income housing tax credit section, he highlights the latest commitment from HUD and the Department of Veterans Affairs to help house Native American veterans. In new markets tax credit news, he shares news about an upcoming conference where listeners can hear about community development opportunities from several government agency heads and industry leaders. Then in the historic tax credit section, he shares how listeners can submit comments on one of the most important forms under the historic tax credit program, the historic preservation certification application. After that, he recaps a recent court ruling on the transfer of state tax credits and why it was deemed a disguised sale. And he closes out with renewable energy tax credit news, where he talks about another court ruling—this time on award decisions made by Treasury on Section 1603 grant applications. And the last news update will be a state item from North Carolina, where the expired state investment tax credit is still an economic spur.

Published by Michael Novogradac on January 12, 2016

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about a list of tax provisions on which the IRS will not issue private rulings or determination letters this year. In the low-income housing tax credit section, he discusses when listeners can expect HUD to release its 2016 income limits for tenants in low-income housing tax credit properties and what the delayed release date could mean for properties. In new markets tax credit news, he shares news about the CDFI Bond Guarantee program and how much guarantee authority has been authorized for 2016. Then in the historic tax credit section, he discusses efforts to create a county-wide historic tax credit program in Maryland. And he closes out with renewable energy tax credit news where he talks about how listeners can comment on guidance regarding the election of renewable energy investment tax credits in lieu of production tax credits. 

Published by Michael Novogradac on January 5, 2016

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins the first podcast of the new year with the general news section, where he provides an outlook on tax reform in 2016 and key presidential primary dates. In the low-income housing tax credit section, he discusses how owners can comment on Form 8586. Then he talks about how listeners can apply for the third round of HUD’s Promise Zone initiative. In new markets tax credit news, he shares the latest qualified equity investment issuance report. He also has news about five upcoming webinars designed to help CDFIs with everything from customer acquisition to tips for successful partnerships—all with the goal of helping CDFIs better reach underserved areas. Then in the historic tax credit section, he has some state-level news. One is about some rule changes in Montana and the other is about the announcement of Ohio’s historic tax credit awards. He closes close out with renewable energy tax credit news, where he discusses the latest efforts to extend the solar market development tax credit in New Mexico. 

Published by Michael Novogradac on December 15, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section, where he talks about the latest omnibus appropriations bill and tax extenders news. In the low-income housing tax credit section, he discusses a new rental housing report and what it says about how affordable housing programs can better serve the nation’s growing housing needs. In new markets tax credit news, he shares an announcement on Capital Magnet Fund guidance and notice of funding availability. He also provides an update on how much funding will be available for fiscal year 2016 through the Social Innovation Pay for Success program. Then, he moves on to historic tax credit news, where he talks about an upcoming application deadline for Ohio’s state historic tax credit program. He closes out with renewable energy tax credit news, where he discusses the latest effort to extend the renewable energy investment and production tax credit program permanently

Published by Michael Novogradac on December 8, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about the status of omnibus appropriations legislation for 2016 and the status of tax extender discussions. In the low-income housing tax credit section, he discusses how listeners can learn more about HUD’s significant changes to the 2016 designations for difficult development areas and qualified census tracts. In new markets tax credit news, he shares an update to the CDFI Fund’s NMTC Certification, Compliance and Monitoring FAQs. He will also talk about the amount of qualified equity investments issued last month. Then, he moves on to historic tax credit news, where he shares the latest awardees of Maryland’s very successful state historic tax credit program. And he closes out with renewable energy tax credit news where he discusses the possibility of a phase-out for both the production and investment tax credits. 

Published by Michael Novogradac on December 1, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins this week’s podcast with the general news section, where he talks about where Congress stands on trying to pass an omnibus appropriations bill for 2016. He also provides an update on tax extender discussions. In the low-income housing tax credit section, he discusses HUD’s risk-sharing program for small buildings and what California may do about its growing amount of state lowincome housing tax credit forward commitments. In new markets tax credit news, he tells listeners which entity was named the winner of the CDFI Fund’s Innovation Challenge and how that entity’s proposal could change the way small businesses find loans in underserved areas. Then, he moves on to historic tax credit news, where he talks about this year’s winners of the Maine Preservation Honor Awards. He closes out with renewable energy tax credit news where he discusses a new study on the economic potential of renewable energy and how renewable energy tax credits can play a big role in expanding that potential. 

Published by Michael Novogradac on November 30, 2015

Michael J. Novogradac, CPA, shares an update on tax extenders; reviews the recently released report from the Tax Reform Subcommittee of the President’s Economic Recovery Board; summarizes recently updated guidance
released by the Treasury Department regarding recapture under the Section 1602 low-income housing tax credit cash grant program; discusses some upcoming, critical deadlines for new markets tax credit allocates, and a bill being
considered in California to create a state NMTC; highlights the Maryland Sustainable Communities Rehabilitation Tax Credit Program; examines a report that details the impact of three major renewable energy subsidies; and closes with tax credit tidbits.

Published by Michael Novogradac on November 24, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts this week’s podcast with the general news section, where he talks about some key changes to the House Select Revenue Measures Subcommittee. In the affordable housing section, he provides an update on the fiscal year 2016 funding bill for the Departments of Transportation and HUD. He also has big news on HUD’s 2016 designations for difficult development areas and qualified census tracts. In new markets tax credit news, he provides a legislative update on bills that would make the new markets tax credit a permanent part of the tax code. Then, he moves on to historic tax credit news, where he shares information on technical guidance training sessions that could help historic preservationists working on federal property developments. He closes out with renewable energy tax credit news, where he discusses a new bill that would extend the production tax credit through the end of 2016.

Published by Michael Novogradac on November 17, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins the podcast with the general news section, where he provides updates on where Congress stands on highway and transit funding, as well as tax extender discussions. In the affordable housing section, he shared a HUD proposal that could ban smoking at all public housing properties. In new markets tax credit news, he discusses the 2015 new markets tax credit online application and Q&A document that is designed to make applying easier for CDEs. Then, he moves on to historic tax credit news, where he lets listeners know about which historic tax credit industry leader is set to retire and who was chosen as his successor. He closes out with renewable energy tax credit news where he discusses 14 bills that were introduced to extend provisions of the investment tax credit. He also talks about why nearly 50 businesses in Illinois are asking their federal representatives to extend the production and investment tax credits.

Published by Michael Novogradac on November 11, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off the general news section by talking about the president’s State of the Union address and tax reform. He then moves on to discuss the formation of a new advisory council that was formed this month by the Federal Reserve Board. In the low-income housing tax credit section, he gives an update on the disparate impact case that was heard in the Supreme Court last week. He also talks about the 2015 poverty guidelines released by the U.S. Department of Health & Human Services and why it can be expected that HUD will soon release its own fiscal year 2015 income limits. He also shares some news about $3.2 million in grants that were awarded through the Choice Neighborhood Planning program. In a state-level update, he talks about what California’s state treasurer John Chung is planning to do to increase the supply of affordable housing in the state. He also briefly discusses a new report that highlights achievements of the low-income housing tax credit in Vermont. In the new markets tax credit segment, he introduces the new Community Development Individual Achievements Awards program and how you can nominate community development leaders who deserve recognition for their outstanding work. In historic tax credit news, he states the National Trust for Historic Preservation is accepting nominations for its 2015 list of America’s 11 Most Endangered Historic Places. After that, he reviews what is being done to resurrect a state historic tax credit program in North Carolina, and how preservationists can now apply for the new state historic tax credit in Texas. In the renewable energy tax credit section, he discusses a proposal to amend the Keystone XL pipeline legislation that could consolidate or eliminate about 100 government programs related to green building activity. He closes with news on a new bill in Nebraska that would greatly increase its state energy production tax credit.

Published by Michael Novogradac on November 10, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he discusses the latest news from Washington on the new House Ways and Means Chairman, a House-approved highway and transportation bill and support for long-term tax extenders. In the affordable housing section, he shares what two influential groups had to say about the low-income housing tax credit recently. In new markets tax credit news, he provides an update on qualified equity investments issued in the month of October and the likely reason that it’s the largest amount issued in one month since last year. Then, he moves on to historic tax credit news, where he tells listeners which state’s historic preservation office is planning a big push to increase the state historic tax credit cap to $120 million. And he closes out with legislative updates on two renewable energy tax credit bills in the renewable energy tax credit section.

Published by Michael Novogradac on November 3, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section, where he provides the latest news from Washington on the new speaker of the House, a two-year budget deal, highway funding and the race for a new House Ways and Means Committee chairman. In the affordable housing section, he shares a report on what the HOME program has accomplished for affordable housing over the past 25 years. In new markets tax credit news, he highlights updated NMTC guidance from the CDFI Fund, and he provides a reminder of upcoming application deadlines for 2015 new markets tax credit allocation authority. Then, he moves on to historic tax credit news, where he talks about how a long-awaited bill could make the biggest changes to the historic tax credit in decades. He closes out with renewable energy tax credit discussion, where he discusses a new report on why the renewable energy investment tax credit should be expanded to other sources of renewable energy.

Published by Michael Novogradac on October 27, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off general news section with news from Washington. He has updates on speaker of the House election, information on the upcoming highway and transportation funding deadline and a look at the approaching deadline to raise the national debt ceiling. In the affordable housing section, he talks about the 2016 low-income housing tax credit and private activity bond caps. After that, he discusses a new public housing bill that could influence a markup of a HUD reform bill. In statelevel news, he shares highlights of California’s newly adopted regulations for its low-income housing tax credit. In new markets tax credit news, he discusses the official opening of the new markets tax credit 2015 funding round. He will highlight what listeners need to know about applications and important dates to remember. In related news, he talks about how the CDFI Fund is allowing certain military bases to qualify for the new markets tax credit more easily, as well as updates to compliance FAQs. After that, he moves to historic tax credits, where he shares new guidance from the Advisory Council on Historic Preservation concerning the use of real property transferred out of federal ownership. He closes out with the renewable energy tax credit section. He tells listeners which California city is officially endorsing the extension of the federal energy investment tax credit.

Published by Michael Novogradac on October 20, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins this week’s podcast with the general news section, where he shares updates on the deadlines that Congress will need to address in the coming months. In the affordable housing section, he talks about the 2015 low-income housing tax credit national pool and which five states were the top recipients. Then, he’ll have two updates from HUD. One is on the 2016 operating cost adjustment factors for project-based assistance contracts. The second concerns public housing authorities’ use and reporting of administrative fee reserves. He will also discuss the significant regulation changes proposed by California’s Tax Credit Allocation Committee. In new markets tax credit news, he tells listeners about an updated and expanded resource for community development professionals, the 2015 Novogradac New Markets Tax Credit Handbook. After that, he moves on to historic tax credits, where he talks about proposed rule changes for Georgia’s state historic tax credit that were prompted by the expansion of the state credit enacted in May. He closes out with renewable energy tax credit discussion, which features information on a new bill that would make the renewable energy production tax credit a permanent part of the tax code.

Published by Michael Novogradac on October 13, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with the general news section where he discusses the unexpectedly dramatic race to elect a new speaker of the House and what fiscal deadlines the speaker will need to address before the end of the year. In the affordable housing section, he’ll talk about a new housing reform bill that was introduced to streamline several housing programs. Then, he highlights HUD’s upcoming deadlines for processing mixed-finance developments. In state-level news, he shares an update on two California low-income housing tax credit bills. In new markets tax credit news, he tells listeners which entity the CDFI Fund chose to provide group training and assistance to minority certified community development entities. After that, he moves to the historic tax credit section, where he talks about which preservation advocate received an award for her part in getting her state’s historic tax credit program reinstated. He closes out with the renewable energy tax credit section, with information on a new bill that would eliminate the production tax credit. He discusses why the bill could be a good thing for the wind energy industry—at least for now. Then, he tells listeners how they can provide input on how Treasury and the IRS should define certain types of properties that qualify for the renewable energy investment tax credit.

Published by Michael Novogradac on October 6, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section by discussing a stopgap bill that was enacted last week to keep the federal government funded for another two months. Plus, he has updates on the other fiscal deadlines that Congress must address before the end of the year. In the affordable housing section, he talks about the mortgage insurance premiums released by HUD for fiscal year 2016. He also shares news about how two housing forums could affect the presidential race. In new markets tax credit news, he provides updates on the CDFI Fund’s new program data system that is replacing the myCDFIFund portal. Then, he reviews the amount of qualified equity investments issued last month and the amount of new markets tax credits remaining to be allocated. After that, he moves to the historic tax credit section, where he addresses an expanded resource that will provide industry participants with updated historic tax credit basics. He closes with the renewable energy tax credit section, with news about power purchase agreement prices for solar and how those prices are being affected by the investment tax credit.

Published by Michael Novogradac on September 29, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with a discussion on the Speaker of the House John Boehner’s retirement announcement and what it could mean for budget bill negotiations. In the affordable housing section, he talks about a report on how the number of severely rent overburdened households is projected to change over the next 10 years. He also shares news about which affordable housing community leader is retiring this spring. In new markets tax credit news, he announces the winners of the 2015 Novogradac Journal of Tax Credits Community Development QLICIs of the Year Awards. After that, he moves to the historic tax credit section, where he talks about a great resource for updated information on the historic tax credit. He closes out with the renewable energy tax credit section, with news about a Senate bill that would temporarily renew and then replace the energy production and investment tax credits. Then, he discusses how listeners can win recognition for their favorite renewable energy tax credit projects.

Published by Michael Novogradac on September 22, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with a discussion on the fiscal deadlines that Congress has to face in the next few months. In the affordable housing section, he talks about the status of two California bills that would make the state low-income housing tax credit an even more effective development tool. In new markets tax credit news, he provides information about the CDFI Fund’s new website. After that, he moves to the historic tax credit section, where he talks about which state has officially restored its expired state historic tax credit. He closes out with the renewable energy tax credit section, with two reports on the importance of preserving renewable energy incentives. One is from the American Wind Energy Association and the other is from the Solar Energy Industries Association.

Published by Michael Novogradac on September 15, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins the general news section by sharing two bills that could affect how the federal government will deal with the debt ceiling and other federal obligations. He also talks about the status of tax extenders in Congress and what a group of more than 2,000 organizations had to say about tax extenders and economic growth. In the affordable housing section, he discusses a report from the Congressional Budget Office on federal housing assistance programs and a range of options on how they can be changed or eliminated. Then, he talks about HUD’s new capital fund guidebook and how it can be useful for public housing authorities and HUD field offices. He also has a reminder about how listeners can nominate their favorite affordable housing developments for the Novogradac Developments of Distinction Awards. In new markets tax credit news, he addresses a new rule in Maine that prevents the state new markets tax credit from using one-day bridge loans, among other things. He moves to the historic tax credit section, where he discusses the historic tax credit’s annual economic impact report. Then he shares guidance released by the Advisory Council on Historic Preservation and other agencies that streamlines environmental and historic preservation reviews in disaster areas. He closes with the renewable energy tax credit section and discusses what a recent solar market report projects for the industry if the 30 percent investment tax credit were allowed to expire in 2017.

Published by Michael Novogradac on September 8, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general section, where he shares a recent report from the Office of Management and Budget on the appropriations bills approved by the House and Senate. In affordable housing news, he discusses HUD’s proposed fiscal year 2016 fair market rents. And he lets listeners know how they can submit nominations for the Novogradac Journal of Tax Credits Developments of Distinction Awards. In new markets tax credit news, he provides a recap of the CDFI Fund’s recent listening tour and what CDFIs have suggested for improving the CDFI program. He also shares information on the latest Qualified Equity Investment Issuance Report. After that, he moves to the historic tax credit section, where the topic is how Massachusetts considers the transfer of its state historic tax credit for multiphase projects. He closes out with the renewable energy tax credit section, where he talks about a private letter ruling that meant good news for one investor in community solar.

Published by Michael Novogradac on September 1, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts the podcast off with a discussion of a new prediction by the Congressional Budget Office that the federal debt limit will be reached later than expected and what that could mean to Congress. He also looks at other key matters facing Congress when it returns next week. In the low-income housing tax credit segment, he shares some good news about HUD’s housing choice voucher program and a final rule that improves its portability. He also touches on a California notice on how to retain current-year difficult development area status. In addition, he talks about how listeners can nominate developments for some upcoming awards as well as how to register for upcoming webinars. In new markets tax credit news, he reviews about the latest Qualified Equity Investment report from the CDFI Fund. In the historic tax credit section, he congratulates the winners of the 2015 Novogradac Historic Rehabilitation Awards. He closes today’s podcast with the renewable energy tax credit section, where he discusses some details of a proposal by Sen. Chuck Schumer to extend and modify the investment tax credit.

Published by Michael Novogradac on August 18, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section where he discusses what could be on tap for Congress in the next few months and where tax reform discussions might fit in. In the low-income housing tax credit segment, he shares information on two recent HUD publications. One revises Section 8 renewal guidance and the other proposes revising HUD’s previous participation reviews. He also talks about an upcoming webinar that could save LIHTC property owners and managers a lot of worry when it comes to lease ups and maximizing tax credits in the first year. In new markets tax credit news, he shares information about a job opening at the CDFI Fund. In the historic tax credit section, he tells listeners who was selected to head up the historic preservation lobby group, Preservation Action. He closes with the renewable energy tax credit section, where he discusses two reports released by the Department of Energy and what they say about wind power and renewable energy tax credits.

Published by Michael Novogradac on August 11, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with by discussing how much a tax extenders package passed by the Senate Finance Committee is expected to cost over the next 10 years. In the low-income housing tax credit segment, he shares the results of the Council of Development Finance Agencies’ 2014 private activity bond and volume cap report. He also talks about a report on how cities can make inclusionary housing policies more balanced between addressing housing needs and keeping requirements financially feasible for developers. In new markets tax credit news, he provides an update on legislation that would permanently extend the federal New Markets Tax Credit (NMTC) program. In the historic tax credit section, he shares an opportunity for listeners to gain insights from some of the leading experts in the historic tax credit community. He closes with the renewable energy tax credit section, where he talks about a recently enacted Oregon bill and what it means for renewable energy tax credits in the state.

Published by Michael Novogradac on August 4, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with an update on what the IRS included in its 2015-2016 Priority Guidance Plan. In the low-income housing tax credit segment, he discusses a recent report on how housing finance agencies are faring with a shift in multifamily subsidy types. Then, he talks about the proposed selection process for the third and final round of the Promise Zones Initiative. In the same section, he shares an opportunity to learn about low-income housing tax credit compliance rules and strategies. In new markets tax credit news, he shares the monthly Qualified Equity Investment Issuance or QEI report update. In the historic tax credit section, he discusses the latest meeting of the Advisory Council on Historic Preservation. In the renewable energy tax credit section, he talks about the amount of wind energy generation capacity installed during the second quarter of this year and how renewable energy tax credits helped fuel that growth.

Published by Michael Novogradac on July 28, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts the podcast off with the general news section, where he provides details about the tax extenders package that was advanced by the Senate Finance Committee last week. He will tell listeners which expired incentives made the cut and when Congress is expected to take up the extenders. He also discusses a bill designed to help victims of natural disasters by expanding the federal lowincome housing tax credit, new markets tax credit and historic tax credit in designated disaster zones. In the low-income housing tax credit (LIHTC) segment, he shares a report from the Government Accountability Office on why it thinks HUD and the IRS should team up to administer the Low-Income Housing Tax Credit program. Then, he talks about some significant changes being proposed to California’s qualified allocation plan. He also shares how listeners can learn more about the options available to LIHTC property owners when their 15-year compliance period ends. In the new markets tax credit (NMTC) section, he discusses an update issued by the CDFI Fund that will help NMTC program participants determine the eligibility of census tracts in U.S. island areas. Then in the historic tax credit section, he reviews what one report says about the economic impact of the federal historic tax credit in Wisconsin. He closes with the renewable energy tax credit section, where he talks about a bill that would allow tribal governments to use the federal renewable energy investment tax credit.

Published by Michael Novogradac on July 21, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news discussion, where he shares what was included in the Senate Finance Committee chairman’s tax extender legislation markup and what was left out. In the low-income housing tax credit segment, he outlines a new initiative launched by the U.S. Department of Housing and Urban Development that should come as good news for small affordable housing properties. In new markets tax credit news, he discusses how listeners can provide their questions and comments on programs run by the Community Development Financial Institutions (CDFI) Fund. In the historic tax credit section, he talks about how the state of Massachusetts is working to clarify its state historic tax credit recapture rules. He closes with the renewable energy tax credit section, where he discusses an extension for small wind turbines to meet performance and quality standards for the investment tax credit. He also shares information on a new bill that could create an investment tax credit for offshore wind facilities.

Published by Michael Novogradac on July 14, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with a discussion of the reports released last week by the Senate Finance Committee’s tax reform working groups. He informs listeners about what was said about the low-income housing tax credit, new markets tax credit, historic tax credit and renewable energy tax credits—and what their mere inclusion in the report signifies. In the low-income housing tax credit segment, he talks about what HUD said last week about affirmatively furthering fair housing and how it affects program participants. He also shares news about an upcoming webinar that will discuss the Supreme Court’s recent ruling on disparate impact and what the consequences are for affordable housing. After that, he discusses what one HUD study found about the effectiveness of housing choice vouchers for homeless families. He will also talk about how listeners can submit nominations for the annual Novogradac Journal of Tax Credits Developments of Distinction Awards. In the new markets tax credit section, he shares how listeners can learn more about how the CDFI Fund’s Bond Guarantee program can be used with the new markets tax credit. In the historic tax credit section, he gives an update from Wisconsin, where the governor has signed a budget that no longer includes a proposed state historic tax credit cap. He closes with the renewable energy tax credit section, where he addresses a new Iowa law that expands its solar energy tax credit cap for the next two years.

Published by Michael Novogradac on July 7, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins the general news discussion with an update on the status of the Senate Finance Committee working groups and when they’re scheduled to provide feedback on reforming the tax code. In the low-income housing tax credit segment, he shares the latest news on companion legislation that would create a minimum credit rate for the federal low-income housing tax credit (S. 1193 and H.R. 1142). In new markets tax credit news, he discusses a recent letter that was signed by 55 House members, urging the House Ways and Means Committee to extend the federal new markets tax credit. He also provides information about an upcoming webinar on NMTC exit strategies and information on how listeners can nominate outstanding community development entities for the annual Novogradac Journal of Tax Credits Community Development QLICIs of the Year Awards. Then in the historic tax credit section, he has news about one state historic tax credit program that escaped elimination just a few weeks ago and has since then awarded $27.5 million in credits for preservation projects across the state. He closes out with the renewable energy tax credit section, where he talks about the efforts of two groups to extend the renewable energy production tax credit.

Published by Michael Novogradac on June 30, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off talking about the fiscal year 2016 funding bill approved by the Senate Appropriations Committee for Transportation, Housing and Urban Development, and Related Agencies. In particular, he discusses which affordable housing program could get slashed by more than $800 million. In the low-income housing tax credit segment, he shares what the Supreme Court’s recent ruling on housing discrimination could mean for the affordable housing community. Then, he highlights a new report on the state of the nation’s housing and how cuts to federal programs could be detrimental to low-income families. In new markets tax credit news, he updates listeners on the status of legislation to make the new markets tax credit a permanent part of the tax code. In the historic tax credit section, he shares news about three state historic tax credit programs. They include an extension and an expansion, plus a new provision in one state historic tax credit program that’s good news for nonprofits. In the renewable energy tax credit section, he talks about federal legislation that was introduced in both the House and Senate last week that could make renewable energy more attractive to private investors.

Published by Michael Novogradac on June 23, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section, with a discussion about the status of the Senate Transportation, Housing and Urban Development (THUD) funding bill for fiscal year 2016. Then, he talks about when House Ways and Means Chairman Paul Ryan would like Congress to tackle tax extenders legislation. In the low-income housing tax credit segment, he shares the latest guidance from the U.S. Department of Housing and Urban Development on its Rental Assistance Demonstration, or RAD, program. Then, he touches on the Federal Housing Finance Agency’s annual report to Congress. After that, he shares a California Supreme Court decision that gives significant power to local governments when setting affordable housing standards for developers. Also in that section, he highlights a report on how the federal low-income housing tax credit is doing in Tennessee. In new markets tax credit news, he provides details about a new awards management information system that will be implemented by the Community Development Financial Institutions (CDFI) Fund. In the historic tax credit section, he has great news about two state historic tax credit programs. Then, in the renewable energy tax credit section, he shares what the IRS has to say about safe harbor guidance for the renewable energy investment and production tax credits. Then, he closes with news on a bill that could amend Louisiana’s solar energy tax credit bill.

Published by Michael Novogradac on June 16, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with a discussion about the status of the House Transportation, Housing and Urban Development funding bill for fiscal year 2016 and why both House and Senate leadership may consider legislation to increase spending caps. In the low-income housing tax credit segment, he provides updates on a handful of California affordable housing bills, including one that could increase the amount of state low-income housing tax credits by $300 million per year. Then, he shares an opportunity for listeners to learn or get a refresher on what they need to know about determining low-income housing tax credit eligible basis. In new markets tax credit news, he highlights the new markets tax credit allocations for the 2014 funding round. Then, he discusses what the New Markets Tax Credit Coalition learned about program investments in the past year through its annual progress report. Following that, he shares some highlights from our Novogradac New Markets Tax Credit Conference in Washington, D.C. last week. After that, he shares how listeners can nominate their favorite projects for a Novogradac Journal of Tax Credits Community Development Qualified Low-Income Community Investments Award. In historic tax credit news, he addresses the latest progress on a legal debate about what fully constitutes a historic tax credit partnership. Then, he tells listeners about how a widely successful state historic tax credit program is in danger of being discontinued. Then, in the renewable energy tax credit section, he talks about a recent private letter ruling and what it said about reflective roofs as energy property, making them potentially eligible for the federal investment tax credit.

Published by Michael Novogradac on June 9, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with a discussion about why the president has issued an early veto threat to the fiscal year 2016 THUD appropriations bill that the House Appropriations Committee approved in May. He also shares how that veto threat could affect Republicans’ strategy to advance their budget plan. In the low-income housing tax credit segment, he talks about changes HUD is considering for how it calculates rental limits in certain housing markets. Then, he shares news about the president’s new top housing advisor. Next, he addresses a state bill that would alter the rights of first refusal for acquiring low-income housing tax credit properties in Texas. In new markets tax credit news, he’ll share some informative statistics on NMTC investments from the program’s inception through fiscal year 2013. After that, he’ll discuss changes to Nebraska’s state NMTC that could make it more attractive to a larger number of investors. In historic tax credit news, he highlights an updated report from the Office of the Comptroller of the Currency on how historic tax credits have brought new life to older communities. Then, in renewable energy tax credit news, he informs listeners which national group of leaders is urging Congress to extend the renewable energy production and investment tax credits immediately. Lastly, he provides a look at why the Government Accountability Office suggests the IRS be required to collect information on taxpayers who claim renewable energy production and investment tax credits.

Published by Michael Novogradac on June 2, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, talks about the status of Senate Appropriations Committee fiscal year 2016 allocations for the Departments of Transportation, Housing and Urban Development. Then, he reviews a proposed rule change by the Federal Reserve that could be good news for municipal bonds. In the low-income housing tax credit section, he discusses what tax credit and tax-exempt bond relief measures were authorized last week for counties affected by severe storms in Oklahoma and Texas. After that, he provides details on an introduced bill that could make it easier for homeless or formerly homeless students and veterans to find affordable housing. He closes out the section with information on how property owners and managers can learn more about operating expense trends for low-income housing tax credit properties. In new markets tax credit news, he tells listeners how much support was received for a sign-on letter urging Congress to permanently extend the new markets tax credit. In historic tax credit news, he shares a change in how a qualified commercial structure is defined for purposes of the Colorado state historic tax credit. In the renewable energy tax credit section, he discusses a new bill that would extend the renewable energy investment tax credit rate for another 5 years. In state-level news, he talks about a bill that makes several changes to state renewable energy tax credit standards in Kansas.

Published by Michael Novogradac on May 26, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, opens the podcast with the general news section, discussing progress on a bill that could advance evidence-based policymaking within the federal government. Then, he gives the latest news on the Senate Finance Committee’s five tax reform working groups. In the low-income housing tax credit section, he shares a report illustrating the gap between wages and rents across the country. Then, he discusses why California could potentially see an extra $200 million available for green housing investments. He also talks about an upcoming webinar on low-income housing tax credit acquisition and rehabilitation developments. In new markets tax credit news, he provides an update on two companion bills that would permanently extend the New Markets Tax Credit program. He also tells listeners how they can participate in a sign-on letter that two congressmen are circulating in support of a new markets tax credit extension. Next, he shares the three winners of our Novogradac Community Development Individual Achievement Awards who have greatly contributed to the New Markets Tax Credit program. In historic tax credit news, he shares an update on a North Carolina state historic tax credit bill and how it fits into the proposed state budget plan. Then, he closes out this week’s podcast with our renewable energy tax credit section, where he reports on a recent Nebraska renewable energy tax credit bill and how it fared after it advanced out of committee.

Published by Michael Novogradac on May 19, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off the general news section by talking about the T-HUD appropriations bill passed by the House Appropriations Committee last week. In the low-income housing tax credit section, he shares a Chief Counsel Advice Memorandum from the IRS and what it says about conflicting tenant income requirements among different programs. Then, he discusses a report from HUD on the relationship between state qualified allocation plans and the location of low-income housing tax credit properties. Next, he addresses two news items from Missouri: One is about a low-income housing tax credit assessment bill and the other is a proposed change that could help increase housing options for survivors of domestic violence. Also in state news, he discusses a memo that would clarify application requirements for California redevelopment agencies that financed state low-income housing tax credit properties. In new markets tax credit news, he shares the latest Qualified Equity Investment Issuance or QEI report. He also discusses which governor last week vetoed a bill that would have created a New Markets Tax Credit program in his state. In historic tax credit news, he shares an update on historic tax credit guidance that may be released this summer concerning income inclusion and partnership income. He also summarizes a bill that would allow counties and cities to create their own historic preservation incentives in North Carolina. He then outlines Georgia’s newly expanded state historic tax credit. In the renewable energy tax credit section, he reports on a state bill that is designed to make renewable energy investments more attractive in Colorado.

Published by Michael Novogradac on May 12, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with a discussion on legislation that would increase the annual issuance limit for issuers of bankqualified bonds. In the affordable housing section, he shares news about the latest efforts to establish a minimum rate for the low-income housing tax credit and how that bill could be a game-changer for the industry. Then, he discusses another piece of legislation that would provide additional funding for public housing and address a backlog of capital needs. After that, he outlines new exclusions from caps that are set for Fannie Mae and Freddie Mac new multifamily business. In new markets tax credit news, he talks about what Sen. Ben Cardin from Maryland sees as the role of the new markets tax credit in revitalizing the city of Baltimore. In the same section, he names the eight communities recently designated as “promise zones” by the Obama administration. In historic tax credit news, he talks about a private letter ruling from the Wisconsin Department of Revenue and what it said about nonprofits’ rights to claim the state HTC. In the renewable energy tax credit section, he shares news about recently enacted safe harbor legislation in North Carolina that could mean $180 million or more in additional tax credits awarded over the next five years.

Published by Michael Novogradac on May 5, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses some tax credit amendments filed to an education savings plan bill. Then, he shares some recommendations submitted to the Senate Finance Committee tax reform working groups. More specifically, he outlines some of the suggestions made to improve the low-income housing tax credit, new markets tax credit and renewable energy tax credits. In the affordable housing section, he talks about what the House Transportation-HUD Appropriations Subcommittee included in its fiscal year 2016 spending bill. Then, he’ll provide a state-level item about lowincome housing tax credit awards in Wisconsin. In the same section, he shares news about an affordable housing leader who is retiring after 40 years of service to the industry. In the new markets tax credit section, he discusses an upcoming advisory board meeting for the entity that administers the New Markets Tax Credit program: the CDFI Fund. Then, in the historic tax credit section, he talks about how listeners can learn or get a refresher on the essentials of the historic tax credit program. In the renewable energy tax credit section, he examines three Louisiana bills that endanger the state’s solar energy tax credit and how the bills could have an adverse effect on the state’s economy.

Published by Michael Novogradac on April 28, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts by talking about the progress congressional lawmakers are making in finalizing a joint budget agreement. He also shares updated guidance from the Financial Accounting Standards Board on how nonprofits should present their financial statements. In the affordable housing section, he discusses how the House Appropriations Committee last week approved fiscal year 2016 allocation for funding the Departments of Transportation and Housing and Urban Development. Then, he talks about a private letter ruling released by the IRS that could affect how LIHTC developers think about eligible basis under Section 42. He also shares news about an upcoming webinar designed to help LIHTC property owners and managers avoid tax credit recapture. To close out the section, he discusses news about a national leader in affordable housing who is retiring this summer. In the new markets tax credit section, he talks about how listeners can join and contribute to the New Markets Tax Credit Working Group. In the historic tax credit section, he provides recommended practices for structuring transactions so that they satisfy safe harbor requirements. In the same section, he shares a state-level example of what can happen when tax credit investments are not structured properly. After that, he outlines some new regulations adopted for the Iowa state historic tax credit that will go into effect in a few weeks. In the renewable energy tax credit section, he discusses a bill that was introduced to phase out and repeal the federal renewable energy production tax credit. To close out this week’s podcast, he talks about a recent report on how the solar industry could be in trouble if the investment tax credit is not extended.

Published by Michael Novogradac on April 21, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the progress lawmakers have made in negotiating a fiscal year 2016 budget and when a final agreement can be expected. In the affordable housing section, he shares news about a hearing that was held by the House Committee on Financial Services last week and what witnesses had to say about the low-income housing tax credit. Then, he addresses question sent in by a Tax Credit Tuesday listener on how HUD views equity bridge loans that come from outside of the operating partnership. After that, he discusses a new bond program in California that could help build more affordable housing across the state. In the new markets tax credit news, he provides a cosponsor update on bills that would make the new markets tax credit a permanent part of the tax code. In the historic tax credit section, he talks about a court ruling in Rhode Island that underscores the importance of placed in service dates. In the renewable energy tax credit section, he shares the 2015 reference rates and inflation adjustment factors for the production tax credit. He’ll end with news about state renewable energy tax credit bills in two states: New Mexico and North Carolina.

Published by Michael Novogradac on April 14, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, talks about several deadlines that are coming up tomorrow, April 15. In the affordable housing section, he shares news about legislation that would expand funding for the National Housing Trust Fund and the low-income housing tax credit. Then, he discusses interim guidance from the U.S. Department of Housing and Urban Development (HUD) on subsidy limits for the HOME program. Next, he provides highlights from a HUD webcast on the challenges and opportunities of building affordable housing. After that, he talks about the upcoming Novogradac Developer-Syndicator Relationship Webinar. In new markets tax credit news, he announces the opening of the fiscal year 2015 round of the CDFI Bond Guarantee program. He also addresses a change to CDFI certification requirements. He closes out the section with the amount of qualified equity investments finalized in March by new markets tax credit (NMTC) allocatees. In the historic tax credit section, he reviews recently passed legislation in Arkansas that extends the state historic tax credit program. He closes out this week’s podcast with the renewable energy tax credit section and a ruling on a Section 1603 Treasury grant.

Published by Michael Novogradac on April 7, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with a discussion about what can be expected from Congress in the next week as the deadline to pass a joint conference agreement on a budget approaches. He also talks about advocacy efforts to protect an important tool for affordable housing and community development: tax-exempt municipal bonds. In the affordable housing section, he shares news about when and how state agencies can designate an entity to administer the National Housing Trust Fund program. He also provides guidance from the U.S. Department of Housing and Urban Development regarding rental assistance transfer rules. In new markets tax credit news, he talks about a bill that would create a new markets tax credit in the state of Georgia. Then, he discusses how listeners can help honor individuals who have advanced the new markets tax credit and have made a positive impact on the field of community development. In historic tax credit news, he addresses efforts to preserve the effectiveness of the historic tax credit in light of potential tax reform. Finally, he closes with the renewable energy tax credit section. He shares legislation that would significantly increase the state renewable energy tax credit in Nebraska. He also talks about a bill in New Mexico that would extend the state investment tax credit through the year 2024.

Published by Michael Novogradac on March 31, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off by talking about the budget proposals that the House and Senate passed last week, and what the next procedural steps will be in the coming weeks. In the affordable housing section, he discusses the final rule issued by the Federal Housing Finance Agency on allocations made by Fannie Mae and Freddie Mac to the Housing Trust Fund and Capital Magnet Fund. Then, he talks about a new HUD proposal that would further protect survivors of domestic violence against housing discrimination. After that, he shares some state-level news about what Wisconsin is doing to incentivize high-impact affordable housing. In new markets tax credit news, he provides cosponsor updates to both House and Senate legislation that would make the new markets tax credit permanent. In the historic tax credit section, he discusses the extension of the Arkansas state historic tax credit program. He closes the podcast with the renewable energy tax credit section. He discusses recent comments from the Secretary of the Interior in support of renewable energy tax credits. He also talks about a renewable energy tax credit proposal in North Carolina.

Published by Michael Novogradac on March 24, 2015

 In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the Republican House and Senate Budget Committee resolutions that were released last week. He also shares information about how listeners can submit comments on what guidance the Internal Revenue Service should prioritize in 2015 and 2016. In low-income housing tax credit news, he discusses a memorandum from the IRS that clarifies whether units for managers or maintenance personnel in a low-income housing tax credit property are eligible for the credit. Then he talks about a bill that could increase financing for energy-efficient updates in government-subsidized housing. After that, he shares a report about rental cost burdens on working families and how the low-income housing tax credit is helping to address the affordability crisis. In new markets tax credit news, he discusses a report that examines how the new markets tax credit could better serve minority and women entrepreneurs. In the historic tax credit section, he talks about a bill to expand the Georgia state historic tax credit. He also discusses a bill from Alabama that could make the state historic and new markets tax credit programs less attractive to investors. He closes with a report from the Department of Energy on the future of wind power.

Published by Michael Novogradac on March 17, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with updated baseline projections from the Congressional Budget Office and what it expects the federal debt and deficit to look like in the next year and beyond. He will also discuss news about how listeners can contribute to tax reform discussions in Washington. In affordable housing news, he shares an analysis of the 2015 HUD rent and income limits. Then he talks about a report that points out the importance of funding affordable housing that serves extremely lowincome households. He also has a state-level update from Georgia on how the value of lowincome housing tax credit properties will be assessed for property tax purposes. In new markets tax credit news, he provides information on the latest Qualified Equity Investment Issuance Report and why, not surprisingly, the amount of investments finalized in February dropped by nearly 90 percent from the previous month. Then, in historic tax credit news, he addresses a report on the Wisconsin state historic tax credit, which is in danger of being scaled back dramatically. Finally, he closes with the renewable energy tax credit section by discussing the updated and much-anticipated “beginning of construction” guidance for the renewable energy production tax credit and investment tax credit.

Published by Michael Novogradac on March 10, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, talks about the federal debt ceiling and why Treasury Secretary Jacob Lew is urging Congress to raise the debt limit as soon as possible. He also discusses updated consolidation guidance from the Financial Accounting Standards Board, and shares information about a new bill that was introduced to promote public-private partnerships in social enterprises. In affordable housing news, he shares key information about the release and implementation of HUD’s fiscal year 2015 income limits. Then, he provides details on a new proposal package in California that would increase the annual state low-income housing tax credit cap by $300 million. In new markets tax credit news, he shares a Senate bill (S. 591) that was introduced to make the new markets tax credit a permanent part of the tax code. Then, he talks about how listeners can comment on the CDFI Fund’s proposed annual assessment for the CDFI Bond Guarantee program. He announces a nominations deadline extension for the Novogradac Journal of Tax Credits Community Development Individual Achievement Awards. In historic tax credit news, he reviews the National Park Service’s annual report on the federal historic tax credit. In state-level news, he talks about a second chance for California to have its own state historic tax credit program. He closes with the renewable energy tax credit section, in which he addresses a budget proposal in Louisiana that could scale back several of the state’s tax credit programs, including its wind and solar tax credit. He also discusses how North Carolina’s renewable energy investment tax credit is proving to be a sound investment.

Published by Michael Novogradac on March 3, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins the general news section with more information about the status of the Senate’s tax reform working groups. He also talks about a stakeholder letter urging lawmakers to protect the effectiveness of municipal bonds. Then, he announces that he will discuss a consolidation guidance update from the Financial Accounting Standards Board in next week’s podcast. In the affordable housing section, he shares information on a new bill that was introduced to create a permanent credit percentage floor for the federal low-income housing tax credit. He also discusses a state-level bill from California that could mean an extra $300 million in state low-income housing tax credits. In the new markets tax credit section, he discusses a cosponsor update on the New Markets Tax Credit Extension Act of 2015. In historic tax credit news, he answers a question sent in by a Tax Credit Tuesday listener on a topic that many listeners can relate to: tax credit advocacy. Finally, he closes this week’s podcast with the renewable energy tax credit section. He talks about a bill to repeal federal renewable energy tax credits. Then he discusses a report on why North Carolina’s red-hot solar industry is in danger of cooling down.

Published by Michael Novogradac on February 24, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off by discussing the Council of Economic Advisers’ annual report. In affordable housing news, he reviews an energy-efficiency report from Virginia and how it could encourage more state housing agencies to incentivize green building standards. In other state-level news, he talks about how a multi-billion-dollar state budget surplus in New York could dramatically increase the state’s low-income housing tax credit cap. In new markets tax credit news, he provides a legislative update mentioned in last week’s podcast regarding the New Markets Tax Credit Extension Act of 2015 (H.R. 855). He discusses what sponsors are doing to rally support for the legislation that could finally make the new markets tax credit permanent. In historic tax credit news, he shares a new report from the Advisory Council on Historic Preservation on how historic federal properties contribute to local economic development. In renewable energy tax credit news, he talks about why some wind projects worth billions of dollars are currently on hold and what green light they’re all waiting for.

Published by Michael Novogradac on February 17, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off the general news section with a few updates from the Senate Finance Committee. He discusses bills that the committee marked up last week and what that markup process could indicate about how the committee will handle tax reform proposals. He also discusses a Senate Finance Committee hearing on lessons that could be learned from the last major overhaul of the tax code, nearly 30 years ago. Then he touches on a report that was released by the Joint Committee on Taxation on the history of tax expenditures, and he provides an update from the Office of the Comptroller of the Currency, or OCC, on revised assets thresholds with regard to Community Reinvestment Act rules. In affordable housing news, he talks about the U.S. Department of Housing and Urban Development (HUD) and its latest efforts to align operations with the Low-Income Housing Tax Credit (LIHTC) program. He also shares a new plan between HUD and the state of California to improve energy efficiency in multifamily housing. He closes the section with a new comment letter to the IRS from the LIHTC Working Group on tenant relocation costs. In new markets tax credit news, he provides details on a federal bill that would extend the new markets tax credit permanently. He also talks about two other provisions of the bill that would make the new market tax credit even more effective. Turning to historic tax credit news, he discusses two state-level bills. One would dramatically increase the per-project cap for Georgia’s state historic tax credit. The other is an omnibus bill in North Carolina that would bring back several expired tax credits, including the state historic tax credit program. In renewable energy tax credit news, he shares news about a bill that would extend and expand the state production tax credit in New Mexico.

Published by Michael Novogradac on February 10, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts the general news section by talking about the Congressional hearings held last week on the president’s proposed budget for fiscal year 2016. Next, he shares some news on seven extenders bills that were approved by the House Ways and Means Committee and what that approval could mean for tax reform in the coming year. Then he’ll address the individual rosters for the Senate tax reform working groups. In the affordable housing section, he shares some news about HUD reviewing waitlist applications for the Rental Assistance Demonstration program. After that, he reviews two different housing needs reports. One was issued by HUD on worst-case housing needs across the country. The other is a housing needs assessment for the state of Vermont, where thousands of affordable housing units are set to exit their compliance period or lose their subsidies in the next five years. In new markets tax credit news, he shares the latest Qualified Equity Investment Issuance Report and the likely reason there was $793 million in investments finalized in January. In historic tax credit news, he talks about a proposed $10 million annual cap on Wisconsin’s state historic tax credit. Then he’ll discuss what North Carolina’s governor is doing to re-establish a state historic tax credit after the previous state credit expired in December. In the renewable energy tax credit section, he discusses the IRS soliciting allocation applications for about $1.3 billion in new clean renewable energy bonds, or New CREBs.

Published by Michael Novogradac on February 3, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins by talking about the president’s budget request for fiscal year 2016 and what his proposals could mean for the tax credit community. Then, he discusses the Congressional Budget Office’s budget and economic outlook for the years 2015 through 2025. He also talks about the new subcommittee leaders of the Senate Banking, Housing and Urban Affairs Committee. In the low-income housing tax credit section, he discusses the Housing Trust Fund interim rule that HUD published last week. He also discusses the estimated allocations from the Housing Trust Fund, as projected by the National Low-Income Housing Coalition. In related news, he briefly mentions a bill that was introduced in Congress that would prevent Fannie Mae and Freddie Mac from funding the Housing Trust Fund and Capital Magnet Fund while they’re under conservatorship. Next, he provides information about a webcast and a webinar that are coming up this week on tax exempt bonds and low-income housing tax credit compliance. He closes the section with news of Buzz Roberts, who is leaving the U.S. Treasury Department to head the National Association of Affordable Housing Lenders. In new markets tax credit news, he shares some details about a new bill that’s about to be introduced that would make the new markets tax credit a permanent part of the tax code. Then, he discusses a new bill in California that would create a $200 million state New Markets Tax Credit program. In historic tax credit news, he addresses a memo issued by the IRS and what it clarifies for Section 50(d) income. Following that, he shares state-level news items about the historic tax credit programs in Rhode Island and Iowa. In the renewable energy tax credit section, he discusses what Sen. Michael Bennet of Colorado recently had to say about extending the production tax credit. He closes with news of a bill that was introduced in Oklahoma to reduce the state production tax credit.

Published by Michael Novogradac on January 20, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses President Obama’s upcoming State of the Union Address. He also talks about deadlines that could have major policy and fiscal consequences if Congress doesn’t address them properly. He then shares some news about new tax reform working groups formed by Senate Finance Committee Chairman Orrin Hatch and Ranking Member Ron Wyden. In the low-income housing tax credit section, he addresses occupancy protection guidelines for housing, and a new HUD report that provides an overview of the populations served by the low-income housing tax credit. He also discusses the disparate impact Supreme Court case that could determine what constitutes discrimination under the Fair Housing Act, as well as what Pennsylvania is doing to promote green building through its 2015 qualified allocation plan. In the new markets tax credit segment, he talks about two state bills that could help Minnesota and Indiana compete with neighboring states for NMTC investor dollars. In historic tax credit news, he explains why the state historic tax credit and other programs could be in danger of elimination in Utah. In the renewable energy tax credit section, he shares details regarding the new investment tax credit guidance for small wind energy projects. He wraps things up with praise for solar energy and the investment tax credit from a surprising source.

Published by Michael Novogradac on January 13, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the latest news on a House rules change that could affect the future of tax reform. He also shares the Internal Revenue Service’s revised list of provisions on which it will not issue letter rulings or determination letters. In low-income housing tax credit news, he discusses proposed administrative regulation changes for HUD multifamily housing. He also talks about some changes that Virginia has made to its qualified allocation plan. Next, he discusses a report that highlights the accomplishments of the low-income housing tax credit and the state program that supports it in the state of Maryland. In the new markets tax credit section, he reviews the latest Qualified Equity Investment Issuance Report. In historic tax credit news, he provides information on efforts to preserve the historic tax credit program of one state and efforts to reestablish a historic tax credit program in another. In the renewable energy tax credit section, he talks about one U.S. Senator’s push to make the renewable energy production tax credit a longer-term policy. Finally, he discusses how one state renewable energy tax credit program has been so successful that it is already maxed out through the year 2022.

Published by Michael Novogradac on January 6, 2015

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA starts off by summarizing the first orders of business for the new Congress and how an expected House rule change could affect tax credit legislation in the current session. In the low-income housing tax credit section, he discusses an update on the progress of HUD’s Rental Assistance Demonstration program. He also shares a memo from HUD concerning marijuana use in subsidized multifamily housing properties. He closes the section with state-level news from Iowa, where a new Workforce Housing Tax Incentives program will be administered. In the new markets tax credit segment, he talks about some updates that the Community Development Financial Institutions Fund issued on its frequently asked questions document on new markets tax credit compliance. In the historic tax credit section, he shares news about an Oregon state bill that is expected to be introduced next month to create a state historic tax credit program. In the renewable energy tax credit section, addresses why a renewable energy leader thinks 2015 could be a big year for U.S. renewable energy policy. Finally, he discusses an open letter sent by environmental groups, urging their Montana congressional delegation to extend the renewable energy production tax credit and investment tax credit.

Published by Michael Novogradac on December 30, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with an outlook on the potential for tax reform in 2015. He also shares news about a potential change in leadership for the Joint Committee on Taxation and certain change in leadership for the Congressional Budget Office. In the low-income housing tax credit section, he addresses HUD’s clarification to prevailing wage rules for the Rental Assistance Demonstration (RAD) program. He also discusses HUD’s year-end review of its programs. Next he reviews the National Low Income Housing Coalition’s report on how well federal programs address the housing needs of extremely low-income households. In the new markets tax credit segment, he talks about the importance of the New Markets Tax Credit program to rural communities, particularly in terms of health care services and job creation. In historic tax credit news, he provides state-level updates regarding awards announcements under the Ohio Historic Preservation Tax Credit program, as well as a new Nebraska state historic tax credit program that will begin accepting applications this week. Finally, he discusses two reports that call for a more coherent and predictable energy policy.

Published by Michael Novogradac on December 23, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with an update from Washington regarding a spending package and tax extender legislation, both signed by President Barack Obama last week. He also shares an update about congressional committee assignments for 2015. Next, he discusses a recent report on how “lifecycle underwriting” and other strategies could affect the long-term affordability and availability of low-income housing properties. He also talks about a California state low-income housing tax credit introduced for rehabilitating older housing that serves rural, very-low and extremely-low-income tenants. In the new markets tax credit segment, he shares the findings of a report on how diverse investments in economically underserved neighborhoods can improve entire communities. In the historic tax credit section, he reviews a recent announcement of awardees under Maryland’s state historic tax credit program. Finally, he discusses a report on how renewable energy tax credits can play a significant role in reducing the installation costs of solar photovoltaic systems.

Published by Michael Novogradac on December 16, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, provides news on the status of a $1 trillion-plus government spending package. He also discusses the progress of tax extender legislation. Next, he reviews a tax reform bill introduced by House Ways and Means Committee Chairman Dave Camp, and he also gives updates on House Ways and Means Committee appointments for the Subcommittee on Select Revenue Measures, and appointments to the Senate Finance Committee. In the low-income housing tax credit section, he shares news on the National Housing Trust Fund and the Capital Magnet Fund, the 9 percent LIHTC floor and the CDFI Bond Guarantee program. He also goes over a new bill introduced to change the frequency of certain income re-certifications. In the new markets tax credit segment, he shares the findings of a New Markets Tax Credit Coalition economic impact report. Next, he discusses the North Carolina state historic tax credit set to expire at the end of this month. Finally, in the renewable energy tax credit section, he talks about a new report highlighting the importance of extending and expanding the renewable energy production tax credit and investment tax credit. He also lets listeners about the new deadline for submitting nominations for the Novogradac Renewable Energy Power Awards.

Published by Michael Novogradac on December 9, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts things off with news from Washington regarding the consideration of a one-year tax extenders bill. He also discusses the Dec. 11 deadline by which lawmakers will need to pass a spending bill to avoid yet another government shutdown. Next, he provides an update on the status of fiscal year 2015 income limits for properties funded by the U.S. Department of Housing and Urban Development (HUD) or the Low-Income Housing Tax Credit (LIHTC) program. He also has news on a case that may determine what constitutes discrimination under the Fair Housing Act—specifically concerning LIHTC properties. Next, he shares a report on state housing agency use of qualified allocation plans to promote more supportive housing development. He also talks about the confirmation of Nani Coloretti as the new deputy secretary of HUD. In the new markets tax credit segment, he reviews the latest Qualified Equity Investment Issuance Report released Dec. 1. In the renewable energy tax credit section, he talks about the strong support for extending the renewable energy production tax credit and investment tax credit from the Governors’ Wind Energy Coalition. Finally, in the historic tax credit section, he shares some state-level news about the impending expiration of North Carolina’s state historic tax credit.

Published by Michael Novogradac on December 2, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with some news from Washington about how the threat of a presidential veto has affected the progress of tax extender legislation. He also provides an update on the upcoming deadline for Congress to approve new spending authority for federal agencies and discretionary programs in order to avoid yet another government shutdown. In low-income housing news, he addresses how some options presented by the Congressional Budget Office to reduce the federal deficit would hurt the affordable housing community if actually implemented by Congress. He also speaks on Sen. Al Franken’s latest efforts to rally support for providing affordable housing to formerly homeless students and veterans. Then he shares some news about $30 million in grants that will be offered next year through HUD’s Choice Neighborhoods Implementation program, and finally, he rounds out the section with an update to H.R. 4717, a bill that would create a permanent rate floor for the 9 percent and 4 percent low-income housing tax credits. Next, he tells listeners about an opportunity to work with the CDFI Fund on reviewing CDFI Program and Native American CDFI Assistance Program applications. Then he discusses co-sponsor updates to the Creating American Prosperity through Preservation or CAPP Act, and the Rural Heritage Conservation Act of 2013, two bills that would make the historic tax credit more effective and accessible. Finally, he wraps up by reviewing a new poll showing that the majority of voters support extending the production tax credit. He also alerts listeners to where they can hear expert panel discussions on the latest renewable energy tax credit topics.

Published by Michael Novogradac on November 25, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with a tax extenders update, followed by key House subcommittee appointments. He also talks about a proposal on federal expenditures, and he discusses several tax-extender letters to Congress. In the low-income housing tax credit section, he discusses the possibility of the National Housing Trust Fund and the Capital Magnet Fund finally getting funded. Next, he shares news about a new cosponsor for the New Markets Tax Credit Extension Act of 2013 (S.1133), and he mentions Annie Donovan, newly appointed director of the CDFI Fund. In the historic tax credit section, he addresses how expanded Community Reinvestment Act guidance could encourage greater investment in historic properties in underserved communities. He also has a state-level update regarding the Texas historic tax credit. He closes with the renewable energy tax credit section, where he shares the outlook of two Iowa congressmen on the future of the production tax credit, and a review of “Clean Energy Works for Us: Q3 2014 Jobs Report,” a new report on how more predictable renewable energy tax credit legislation could foster continued growth of the industry.

Published by Michael Novogradac on November 18, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, reviews the Governmental Accounting Standards Board’s proposal requiring state and local governments to disclose information on their tax abatement agreements. In the low-income housing tax credit section, he discusses two new cosponsors for the LIHTC rate floor bill. He also covers the new passbook savings rate that will apply to HUD’s multifamily programs, as well as reviews an upcoming Senate Banking Committee hearing on the Federal housing Finance Agency. In the new markets tax credit segment, he shares news about the Novogradac New Markets Tax Credit Conference recordings and information about the upcoming conference in January. Then, in the historic tax credit section, he talks about several new sponsors for the Creating American Prosperity through Preservation Act. He also has news about the National Trust for Historic Preservation’s call for legislators to preserve the historic tax credit. He closes with the renewable energy tax credit section, where he provides an update on how clean energy advocates are asking lawmakers to work together on tax extender legislation, and he invites nominations for the Novogradac Journal of Tax Credits Renewable Energy Power Awards.

Published by Michael Novogradac on November 11, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with a summary of last week’s midterm election results. He also discusses a possible lame duck omnibus appropriations bill and an IRS warning regarding delays in tax extender legislation. Next, he addresses a deadline extension for public comment on HUD’s 2015 Rental Housing Finance Survey, and he shares news about Novogradac’s new webinar, “Financial Statement Audits of Lower-Tier LIHTC Partnerships.” In the new markets tax credit segment, he provides an update on the latest Qualified Equity Investment Report. Next, he reviews the National Trust for Historic Preservation’s report, “Building on Baltimore’s History: The Partnership for Building Reuse.” In the renewable energy tax credit section, he addresses increased lobbying and speculation about the future of energy tax credits, now that the midterm elections are over.

Published by Michael Novogradac on November 4, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses updates and predictions surrounding Election Day, and key races in Louisiana, Georgia and North Carolina. In low-income housing tax credit news, he reviews inflation adjusted low-income housing tax credit and private activity bond caps for 2015. In the new markets tax segment, he examines an IRS notice regarding economic substance penalties. In the historic tax credit section, he shares news about growing interest in preserving historic barns. He finishes up with the renewable energy tax credit section, where he addresses Energy Secretary Ernest Moniz’s support for renewable energy tax incentives, as well as the PEW Charitable Trust’s report, “Clean Economy Rising: Wind Energy Propels North Dakota Forward.”

Published by Michael Novogradac on October 28, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses next week’s midterm elections and Congressional Research Service updates on tax extender legislation. He also informs listeners about the Office of the Comptroller of the Currency’s report describing the benefits of partnerships between banks and community development loan funds. In low-income housing news, he addresses a sign-on letter circulated for the affordable housing community urging lawmakers to extend the minimum 9 percent low-income housing tax credit rate. He also shares an update about sponsorship for the LIHTC rate floor bill (H.R. 4717). In the historic tax credit discussion, he previews the Advisory Council on Historic Preservation’s next quarterly meeting, and shares highlights of recent state-level discussions about the importance of Missouri and North Carolina state historic tax credits. In the renewable energy segment, he reviews the solar community’s plans for national campaign to extend the investment tax credit beyond its current 2016 sunset date. He will also examine data from the American Wind Energy Association’s report that finds the U.S. wind industry had its busiest third quarter ever. He wraps up with the new markets tax credit segment, reminding listeners about the Nov. 10 deadline to comment on CRA guidance that includes a revision related to new markets tax credit investments.

Published by Michael Novogradac on October 21, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses how the midterm election could affect Senate committee leadership. In low-income housing news, he reviews the release of a California Affordable Housing Development Cost Study, and a recently enacted LIHTC for the District of Columbia. He also addresses the Treasury Office of the Inspector General’s audit of the Missouri Housing Development Commission’s implementation of the Section 1602 cash grant exchange program, a correction regarding a Private Letter Ruling in the Oct. 14 podcast, and an upcoming webinar about the IRS LIHTC Audit Technique Guide. In the new markets segment, he invites listeners to join in the NMTC Coalition’s efforts to extend the new markets tax credit and discusses the CDFI Fund’s new Capacity Building Initiative training series for Native CDFIs. Next, he reports on the Wyoming State Historic Preservation Office’s revisions its statewide historic preservation plan. In renewable energy news, he reviews SEIA’s third annual Solar Means Business report.

Published by Michael Novogradac on October 14, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses IRS Commissioner John Koskinen’s letter to Sen. Ron Wyden about tax extenders legislation. In the low-income housing tax credit segment, he analyzes trends in the 2015 designated difficult development areas, and reviews private letter ruling 201440013, which addresses Section 1602 funding. In the new markets tax credit section, he reviews the CDFI Fund’s announcement about NMTC demand in Round 12 , and discusses the Treasury’s guarantee of an additional $200 million through the CDFI Bond Guarantee Program. Next, in the historic tax credit segment, he reports on Rep. Niki Tsongas’ support for the federal historic tax credit, and he imparts information about the Ohio state historic preservation tax credit’s incorporation of a new catalytic designation. Finally, in the renewable energy tax credit segment, he explores the role of tax credits in the Texas energy market through the report, “Texas Power Challenge: Getting the Most from Texas Energy Dollars.”

Published by Michael Novogradac on October 7, 2014

In this week’s episode of the Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the latest Congressional updates on tax reform. He covers HUD’s designation of the 2015 difficult development areas and qualified census tracts, as well as HUD’s final 2015 fair market rents. He also discusses HUD’s issuance of subsidy layering review guidance, welfare exemption laws in California (A.B. 1760 and S.B. 1203) and the Grace Robertson’s retirement from the Internal Revenue Service. Next, he reports on Treasury Secretary Lew’s speech commending the new markets tax credit program, as part of the CDFI Fund’s 20th anniversary. He also discusses the veto of a California state new markets tax credit (A.B. 1399), as well as the latest QEI issuance update. Then he reports on Department of the Interior’s grants to support National Register diversity. Finally, he examines an International Energy Agency’s solar energy report, as well as North Carolina Department of Revenue’s state renewable energy tax credit guidance.

Published by Michael Novogradac on September 30, 2014

In this week’s episode of the Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, reviews Treasury action on corporate tax inversions and recent CRA performance evaluations. He also addresses Calif. Gov. Brown’s veto of a state historic tax credit and state new markets tax credit. Then, he reports on the 2014 LIHTC National Pool and provides information about the second round of Promise Zone designation applications. Next, he notes the Oct. 1 deadline for the 2014 NMTC allocation application, and reviews analysis of QEIs through round 11. Finally, he informs listeners about the new application fees for Louisiana’s state historic tax credit and discusses the Bridge to a Clean Energy Future Act of 2014 (H.R. 5559).

Published by Michael Novogradac on September 23, 2014

In this week’s episode of the Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a continuing resolution that will fund government operations until Dec. 11. He also notes several critical issues facing Congress, provides an update on tax extenders and reviews the Tax Technical Corrections Act of 2014. In the low-income housing tax credit segment, he discusses a couple highlights from the IRS’s updated LIHTC Audit Technique Guide. In the new markets tax credit segment, he congratulates the 2014 Community Development Award Winners, and alerts listeners that Nebraska will soon begin accepting applications for its state NMTC. In the historic tax credit section, he examines the Creating Prosperity Through Preservation Act that was recently introduced in the House. Finally, in the renewable energy tax credit segment, he reports on renewable energy tax credit comments made during last week’s Senate Finance Committee hearing.

Published by Michael Novogradac on September 16, 2014

In this week’s episode of the Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, provides an update on the status of tax extenders legislation. He also previews a Senate Finance Committee hearing that will examine renewable energy tax policy and discusses proposed changes to Community Reinvestment Act guidance. In the new markets tax credit segment, he reminds listeners about the upcoming allocation application deadline and talks about an Ohio bill to decouple state tax credits from their federal counterparts. In the historic tax credit discussion, he reviews some of the updates in the just-published 2014 Novogradac Historic Rehabilitation Handbook. Then, he updates listeners on congressional support for legislation to permanently extend the 9 percent low-income housing tax credit rate floor and create a new 4 percent rate floor. The renewable energy tax credit section touches on how the production tax credit extension is factoring into a midterm election race in North Dakota and shares highlights about the current solar energy market.

Published by Michael Novogradac on September 9, 2014

In this week’s episode of the Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, reviews Treasury Secretary Jacob Lew’s speech on tax reform, as well as Congress’s return from their state and district work periods. In new markets tax credit news, he discusses the Community Development Financial Institutions Fund’s latest Qualified Equity Investment Issuance Report, and provides an update on California’s state new markets tax credit. In historic tax credit news, he updates listeners on California’s historic tax credit bill, as well as Delaware’s amendments to its state historic tax credit program. In low-income housing tax credit news, he comments on the Federal Housing Finance Agency’s proposed Fannie Mae and Freddie Mac Multifamily Housing Goals and a Harvard Joint Center for Housing Studies and AARP Foundation study about affordable senior housing. In renewable energy tax credit news, he examines the newly released report, “Clean Energy Works for Us: Second Quarter 2014 Report,” which reveals the important role that the production tax credit plays in wind energy production and job creation.

Published by Michael Novogradac on September 2, 2014

In this week’s episode of the Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, mentions the return of the House and Senate, as well as a speech from Treasury Secretary Jacob Lew about tax reform. In new markets tax credit news, he provides information on the 2014 NMTC application guidance and Sen. Wyden’s support of the NMTC program, as well as a California new markets tax credit bill. In low-income housing tax credit news, he explores the National Low Income Housing Coalition’s report, “Housing Spotlight: The Affordable rental Housing Gap Persists.” In historic tax credit news, he reviews the Historic Tax Credit Coalition’s letter to the Internal Revenue Service regarding Section 50(d) of the Internal Revenue Code, reports on Connecticut’s revision of its historic tax credit program and discusses the possible creation of a California historic tax credit program.

Published by Michael Novogradac on August 26, 2014

In the 350th episode of the Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, alerts listeners to the 40th anniversary of the Community Development Block Grant program. In lowincome housing tax credit news, he shares some analysis of the proposed fiscal year 2015 Fair Market Rents, and discusses disaster-relief guidance for low-income housing tax credit and taxexempt bond properties. In new markets tax credit news, he discusses the requirements for application reviewers for the 2014 allocation application round and the release of the 2014 electronic application, as well as new bond issuing authority under the CDFI Bond Guarantee program. In renewable energy tax credit news, he shares two Department of Energy reports on the renewable wind industry and the production and investment tax credits.

Published by Michael Novogradac on August 19, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, he begins with a look at the congressional agenda, and what might be expected, for the rest of the year. In new markets tax credit news, he discusses two reports on the New Markets Tax Credit program that were released last week, a webinar that the Community Development Financial Institutions Fund held on the CIMS3 and a request for reviewers for the 2014 application round. In lowincome housing tax credit news, he alerts listeners to the U.S. Department of Housing and Urban Development’s release of its proposed fiscal year 2015 fair market rents and to Carol Galante’s stepping down from the Federal Housing Administration. In renewable energy tax credit news, he shares information about recent guidance that the Internal Revenue Service released about the start of construction for investment and production tax credit projects. In historic tax credit news segment, he shares the names of the winners of the 2014 Novogradac Historic Rehabilitation awards.

Published by Michael Novogradac on August 12, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the latest tax credit news. In new markets tax credit news, the opening of the 2014 New Markets Tax Credit program application round and the release of the 2013 allocation agreement template. In low-income housing tax credit news, he discusses a bill that would enable homeless students to qualify for low-income housing tax credit units, as well as a bill to reauthorize the Native American Housing Assistance and Self-Determination Act through the end of fiscal year 2018. In historic tax credit news, he discusses ongoing issues regarding how to treat master tenant income in historic tax credit transactions that use a pass-through structure and a letter that the National Trust for Historic Preservation that calls on Congress to preserve the historic tax credit in a reformed tax code. In renewable energy tax credit news he shares an article in the August Novogradac Journal of Tax Credits that provides some “rules of thumb” for energy investment and production tax credit projects.

Published by Michael Novogradac on August 5, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a tax reform hearing about the use of dynamic scoring of the Tax Reform Act of 2014 and alerts listeners to Congress’s August recess and retirement of former House Majority Leader Eric Cantor. In the low-income housing tax credit news, he discusses three new bills introduced last week that would affect affordable housing and provides an update on efforts to resume payments to the National Housing Trust Fund. In new markets tax credit news, he provides a more in-depth analysis of the Community Development Financial Institutions Fund’s release of New Markets Tax Credit program data and shares the latest Qualified Equity Investment Issuance Report. In renewable energy tax credit news, he shares information about one Senator’s effort to draw attention to the expired production tax credit and another’s efforts to extend the investment tax credit to biogas projects. In historic tax credit news, he has an update on how the North Carolina historic tax credit program is faring in the state’s budget process.

Published by Michael Novogradac on July 29, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, alerts listeners to a House Subcommittee on Select Revenue Measures hearing on the Tax Reform Act of 2014 and dynamic scoring. In low-income housing tax credit news, he shares his analysis of the Council of Development Finance Agencies’ report on the use of 2013 volume cap and discusses the results of an audit of the Delaware State Housing Authority’s compliance with the low-income housing tax credit exchange program. In new markets tax credit news, he briefly discusses the Community Development Financial Institutions Fund’s release of New Markets Tax Credit program data, provides an update on the 2014-2015 New Markets Tax Credit program Notice of Allocation Availability and shares information about legislation that would create a state-level new markets tax credit program in North Carolina. In renewable energy tax credit news, he has an update about a case that Alta Wind has brought against the federal government regarding the payment of Section 1603 grants in lieu of investment tax credits. In historic tax credit news, he has information about Pennsylvania’s first round of historic tax credit awards.

Published by Michael Novogradac on July 22, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, notifies listeners about a bill that would increase low-income housing tax credits, new markets tax credits and historic tax credits for disaster areas; discusses some long-term deficit and national debt projections from the Congressional Budget Office; and alerts listeners to some updates to two of Novogradac & Company’s online mapping tools. In new markets tax credit news, he shares a request for comments from the Internal Revenue Service, a report on the use of new markets tax credits in rural areas and the status of a California new markets tax credit bill. In low-income housing tax credit news, he alerts listeners to a request for comments on Form 8823, checks in on the Housing Trust Fund and announces the opening of the nomination round for the Journal of Tax Credits Developments of Distinction awards. In our renewable energy tax credit news, he shares a recent report that found that renewing the investment and production tax credits would increase renewable energy projects. In our historic tax credit news, he has updates from Wisconsin, where a program moratorium has been partially lifted, and from North Carolina, where the historic preservation and development communities are waiting to hear the fate of the state’s historic tax credits.

Published by Michael Novogradac on July 15, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, updates listeners on the progress of a bonus depreciation bill making its way through the House of Representatives, shares the details of an upcoming Community Reinvestment Act webinar and provides a quick update on the new leadership at the Office of Management and Budget and the U.S. Department of Housing and Urban Development. In new markets tax credit news, he discusses the Community Development Financial Institutions Fund’s annual performance report and the latest Qualified Equity Investment Issuance report. In low-income housing tax credit news, he has more information about the U.S. Department of Housing and Urban Development’s revision of the 2014 extremely low-income limits, California’s Affordable Housing and Sustainable Communities program and PrezCat a new affordable housing preservation policy resource that was launched earlier this year. In renewable energy tax credit news, he shares a recent blog post written in response to a report from the Lawrence Berkeley National Laboratory. In historic tax credit news, he discusses a new report from the National Trust for Historic Preservation on the impact of federal historic tax credits on communities, as well as shares some good news about Pennsylvania’s historic tax credit program.

Published by Michael Novogradac on July 8, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, updates listeners on the progress of a bonus depreciation bill making its way through the House of Representatives and shares the 2014 list of distressed or underserved nonmetropolitan middle-income geographies. In historic tax credit news, he discusses the next meeting of the Advisory Council on Historic Preservation and legislation in Pennsylvania that would suspend the state’s historic tax credit program. In low-income housing tax credit news, he has an update about the U.S. Department of Housing and Urban Development’s revision of the 2014 extremely low-income limits, as well as the latest information about new funding for affordable housing in California. In renewable energy tax credit news, he shares a letter asking Congress to take up the EXPIRE Act and discusses a new tool to help state and local officials gather data as they consider their energy policies. In new markets tax credit news, he discusses a recent Senate Indian Affairs Committee hearing on encouraging investment in Indian Country and invites listeners to an exit strategies webinar that Novogradac & Company will be hosting next week.

Published by Michael Novogradac on July 1, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, updates listeners on the progress of Shaun Donovan and Julian Castro’s nominations for the top spots at the Office of Management and Budget and the U.S. Department of Housing and Urban Development, and he discusses new House Majority Whip Steve Scalise’s voting record and a new report from the U.S. National Advisory Board on Impact Investing. In new markets tax credit news, he alerts listeners to a request for information related to the Community Development Financial Institutions Fund’s efforts to bring more minority community development entities into the New Markets Tax Credit program, discusses a letter from 50 U.S. Representatives that urges an extension of the New Markets Tax Credit program and reminds listeners of the soon-to-beclosed window for nominating CDEs for the Community Development QLICIs of the Year Awards. In low-income housing tax credit news, he discusses the latest “State of the Nation’s Housing” report from the Harvard Joint Center for Housing Studies and the affordable housing programs included in California’s new budget and then shares some news the Internal Revenue Service’s Grace Robertson’s impending retirement. In historic tax credit news, he discusses the federal historic tax credit program, which the National Trust for Historic Preservation has included on its 2014 list of America’s 11 Most Endangered Historic Places, and alerts listeners to a moratorium on Wisconsin’s historic tax credit program. In renewable energy tax credit news, he reports on a Treasury’s Office of the Inspector General audit of six projects funded through the Section 1603 cash grant program, as well as legislation that would extend the investment tax credit to combined heat and power projects and waste heat to power projects.

Published by Michael Novogradac on June 24, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses House Majority Leader Kevin McCarthy’s voting record, Shaun Donovan’s confirmation hearings for the top spot at the Office of Management and Budget, and Sen. Ron Wyden’s 15-month window for tax reform. In new markets tax credit news, he shares some remarks about the next round of the New Markets Tax Credit program from New Markets Tax Credit Program Director Bob Ibanez, a report from Native American Capital that compares the loan loss rates of new markets tax credit loans to those of collateralized mortgage-backed securities, and the addition of a new qualified issuer for the Bond Guarantee program. In low-income housing tax credit news, he discusses a call from A.C.T.I.O.N. to support for legislation that creates a permanent 9 percent floor for the low-income housing tax credit program, Julian Castro’s remarks at his confirmation hearing for Secretary of the Department of Housing and Urban Development and good news about California’s budget. In historic tax credit news, he shares updates from Rhode Island and Maryland. In renewable energy tax credit news, he alerts listeners to an article about Novogradac Journal of Tax Credits article about development fees for renewable energy projects.

Published by Michael Novogradac on June 17, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the end of Eric Cantor’s tenure as House majority leader and what that could mean for tax reform. In new markets tax credit news, he shares a report from the New Markets Tax Credit Coalition about the use of the new markets tax credit in 2013 and an emergency rule from Kentucky that addresses recent changes to the state’s new markets tax credit program. In this week’s lowincome housing tax credit news, he discusses support for legislation that creates a permanent 9 percent floor for the low-income housing tax credit program and the passage in the House of a U.S. Department of Housing and Urban Development fiscal year 2015 appropriations bill, as well as an upcoming webcast from the Office of Tax-Exempt Bonds. In historic tax credit news, he has updates from Rhode Island and North Carolina. In renewable energy tax credit news, he discusses guidance from the Internal Revenue Service that addresses sequestration, the Section 1603 program and investment tax credits.

Published by Michael Novogradac on June 10, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the latest information about potential tax reform and more tax extenders hearings. In new markets tax credit news, he provides a few details about the results of the 2013 new markets tax credit allocation round allocatees, the latest effort to extend the NMTC program and an update on the latest Qualified Equity Investment Issuance report. In low-income housing tax credit news, he provides a few highlights from the Senate Appropriations Committee’s fiscal year 2015 appropriations for Transportation, Housing and Urban Development and related agencies, shares news about the death of a Louisiana property valuation bill that would have raised taxes for low-income housing tax credit properties, discusses legislative efforts to increase the amount of affordable housing in Washington, D.C. and celebrates the Oklahoma low-income housing tax credit. In historic tax credit news, he updates listeners about historic tax credit programs in California and Colorado. In renewable energy tax credit news, he discusses legislation that would enable larger distributed wind projects to qualify for the investment tax credit.

Published by Michael Novogradac on June 3, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the second House Ways and Means Committee’s tax extenders markup. In low-income housing tax credit news, he discusses recent changes to the U.S. Department of Housing and Urban Development’s accessibility standards, as well as the latest effort in Oklahoma to create a state low-income housing tax credit program. He also shares have news from Colorado regarding the reenactment of the Colorado state LIHTC. In new markets tax credit news, he alerts listeners to Novogradac & Company’s upcoming new market tax credit conference and an opportunity to nominate community development entities for this year’s Novogradac Journal of Tax Credits Community Development QLICIs of the Year Awards. He also shares the latest rumors about the announcement of the 2013 NMTC allocations. In historic tax credit news, he shares the governor of North Carolina’s plan to replace the state’s expiring historic tax credit program with a comparable program and a list of historic properties and districts in Arkansas that are in danger of being lost to neglect. In renewable energy tax credit news, he discusses the Internal Revenue Service’s publication of the 2014 inflation factors and reference prices for energy credits.

Published by Michael Novogradac on May 27, 2014

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.

Published by Michael Novogradac on May 20, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses possible changes in leadership at the U.S. Department of Housing and Urban Development and the Office of Management and Budget, and provides an update on tax extenders legislation. In new markets tax credit news, he shares a new guide from Federal Deposit Insurance Corporation that helps community banks identify and evaluate opportunities to partner with Community Development Financial Institutions, the opening of the 2014 application round for the Bond Guarantee program and two new cosponsors for the New Markets Tax Credit Extension Act. In this week’s low-income housing tax credit news, he summarizes a talk that Federal Housing Finance Agency Director Mel Watt gave last week about the future of Fannie Mae and Freddie Mac. In renewable energy tax credit news, he shares a report from the Lawrence Berkeley National Laboratory that explores three different scenarios for making the most of renewable energy tax credits. In historic tax credit news he shares news from Nebraska, where the governor recently signed legislation that creates a new state historic tax credit.

Published by Michael Novogradac on May 13, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the latest developments in Congress to extend expired and expiring tax provisions. In new markets tax credit news, he reviews the most recent Qualified Equity Investment Issuance Report, updates listeners about the status of the 2013 allocation round and discusses an Enterprise Community Partners report about the role of new markets tax credits in bringing healthy food options to lowincome communities. In low-income housing tax credit news, he shares the latest information about S. 1217, the Johnson-Crapo bill that would eliminate Fannie Mae and Freddie Mac, alerts listeners to property compliance training opportunities and details a bill in Louisiana that could negatively affect low-income housing tax credit properties. In historic tax credit news, he reviews the fiscal year 2015 appropriations to the Historic Preservation Fund and describes changes to the Alabama historic tax credit program. In renewable energy tax credit news, he discusses recently released guidance about renewable energy investments for real estate investment trusts and highlights 27 companies that have partnered with the U.S. Department of Housing and Urban Development to use solar energy at their properties.

Published by Michael Novogradac on May 6, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a House Ways and Means Committee mark up of several bills that are part of the tax reform package, and potential changes to the generally accepted accounting principles for tax credit investments. In new markets tax credit news, he shares a report from the Wisconsin Housing and Economic Development Authority about how tax credit projects have provided jobs and support to emerging businesses, and discusses a new Mississippi law that requires the state to evaluate the effectiveness of its tax incentive programs. In low-income housing tax credit news, he addresses the cancelation of a mark up of the Johnson-Crapo bill, as well as reveals the results of a Government Accountability Office report on the Rental Assistance Demonstration program. In historic tax credit news, he shares good news about an extension of the Mississippi historic tax credit program and information about an Iowa bill that would improve the use of the state’s historic tax credits. In renewable energy tax credit news, he shares a report about how policy mechanisms are affecting renewable energy production in the United States, and an Iowa bill that would extend the project completion deadline for the state’s energy generation tax credit.

Published by Michael Novogradac on April 29, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses new Community Reinvestment Act guidance from the Office of the Comptroller of the Currency and a new score for the president’s fiscal year 2015 budget from the Congressional Budget Office, and shares the results of Novogradac & Company’s analysis of the National Disaster Tax Relief Act. In low-income housing tax credit news, he discusses a report from Moody’s Investment Service that found that housing finance agency multifamily programs remained strong and profitable through 2013. In new markets tax credit news, he invites listeners to attend the Novogradac New Markets Tax Credit Spring Conference this June and alerts them to a temporary shutdown of the CDFI Fund website. In historic tax credit news, he shares a report about the disposal of historic post office buildings and reminds listeners about the opening of Pennsylvania’s historic tax credit program. In renewable energy tax credit news, he provides a recap of the Novogradac Financing Renewable Energy Conference.

Published by Michael Novogradac on April 22, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses legislation that would extend the New Markets Tax Credit program for one year and enable military families to exclude their basic housing allowance from income when calculating their eligibility for lowincome housing tax credit units in certain areas. In new markets tax credit news, he invites listeners to participate in the New Markets Tax Credit Working Group’s activities. In low-income housing tax credit news, he shares information about legislation that would create a renter’s tax credit and a plan in California that could direct billions of dollars to transit-oriented development. In historic tax credit news, he shares an update about the Mississippi historic tax credit. In renewable energy tax credit news, he alerts listeners to proposed extensions of the production and investment tax credits.

Published by Michael Novogradac on April 15, 2014

In this week’s Tax Credit podcast, Michael J. Novogradac, CPA, discusses new legislation that would increase tax credits for areas recently affected by natural disasters, and he updates listeners about Ways and Means tax reform hearings and the House of Representatives’ passage of a fiscal year 2015 budget. In new markets tax credit news, he shares legislation from Kentucky that has doubled the amount of credit available through the state’s new markets tax credit program. In low-income housing tax credit news, he discusses the reorganization of the U.S. Department of Housing and Urban Development’s Office of Multifamily Housing and a report on low-income housing tax credit housing in Nevada. In historic tax credit news, he shares information about legislation that would make it easier for large, multiphase projects to claim the Maine historic tax credit. In renewable energy tax credit news, he comments on ongoing issues surrounding the sequestration cuts to the Section 1603, Grants for Specified Energy Property in Lieu of Tax Credits.

Published by Michael Novogradac on April 8, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a Senate Finance Committee tax extenders package, a House Ways and Means Committee hearing on tax reform and a House Budget Committee fiscal year 2015 budget proposal. In low-income housing tax credit news, he discusses the latest Low-Income Housing Credit Newsletter from the IRS and update listeners on a bill that would create a state low-income housing tax credit in Oklahoma. In new markets tax credit news, he covers legislation that would make permanent the New Markets Tax Credit program, as well as the latest Qualified Equity Investment Issuance Report from the CDFI Fund. In historic tax credit news, he shares information about changes to the historic tax credit program application and fee payment method. In renewable energy tax credit news, he shares the results of an audit of the Section 48C, the Qualifying Advanced Energy Project Credit, a report on the energy marketplace and two Iowa renewable energy tax credit bills.

Published by Michael Novogradac on April 1, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the latest in the tax reform and tax extenders debate, and reminds listeners about the effective date of the final Volcker rule. In low-income housing tax credit news, he discusses updated investment guidance on the Low-Income Housing Tax Credit program from the Office of Comptroller of the Currency, another housing finance reform bill, a report that compares average rents to average wages and a Georgia bill that would create more favorable property tax assessment rules for LIHTC properties. In new markets tax credit news, he discusses a report on the Capital Magnet Fund and a bill that would change Ohio’s new markets tax credit program. In historic tax credit news, he shares the results of an audit of Missouri’s historic tax credit program. In renewable energy tax credit news, he reminds listeners about the upcoming San Francisco Renewable Energy Conference.

Published by Michael Novogradac on March 25, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, explores tax extender legislation and a request from the Treasury and Internal Revenue Service for suggestions on priority guidance in 2014 and 2015. In low-income housing tax credit news, he discusses an audit of New Mexico’s management of Section 1602 tax credit exchange program funds and the U.S. Department of Agriculture’s plan for implementing the new definition of “rural.” In new markets tax credit news, he discusses a call from Sen. Sherrod Brown of Ohio to extend the New Markets Tax Credit program and set aside funds specifically for communities affected by manufacturing job losses, and shares a letter about the New Markets Tax Credit program application process that the New Markets Tax Credit Working Group sent to the CDFI Fund. In historic tax credit news, he has information about a Mississippi bill that would have extended the state’s historic tax credit program and an Indiana bill that orders a state commission to compare the existing tax credit program to a grant program. In renewable energy tax credit news, he shares a letter from 28 Senators that asks for an extension of the 30 percent investment tax credit for solar projects to be included in any tax extenders legislation and an Iowa bill that would increase the amount of tax credits that projects can receive.

Published by Michael Novogradac on March 18, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, explores possible successors to House Ways and Means Committee Chairman Dave Camp and potential reform at Fannie Mae and Freddie Mac. In low-income housing tax credit news, he discusses legislation that would alter tenant eligibility rules for low-income housing tax credit housing, legislation to create a low-income housing tax credit in Washington, D.C. and an audit of Missouri’s low-income housing tax credit program. In new markets tax credit news, he alerts listeners to a recent job announcement from the Community Development Financial Institutions Fund and a letter from the New Markets Tax Credit Coalition that asks congressional leaders to extend the program. In historic tax credit news, he shares information about the National Park Service’s annual report on the historic tax credit program, an Advisory Council on Historic Preservation report on protecting cities as they adjust to the changing economy, an update on potential Tennessee historic tax credits and information about the distribution of Texas historic tax credits. In renewable energy tax credit news, he reminds listeners about Novogradac’s upcoming renewable energy conference in San Francisco.

Published by Michael Novogradac on March 11, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses President Obama’s fiscal year 2015 budget proposal and discuss possible candidates for the next House Ways and Means Committee Chairman. In low-income housing tax credit news, he discusses the U.S. Department of Housing and Urban Development and low-income housing tax credit provisions in the president’s budget, as well as legislation that would create an Oklahoma lowincome housing tax credit. In new markets tax credit news, he shares the president’s plans for the new markets tax credit program and a new tax credit program, as well as the latest Qualified Equity Investment Issuance Report and a request for information about community development entities’ 2013 new markets tax credit program activities. In historic tax credit news, he shares information about a sign-on letter sent in response to Rep. Camp’s proposal to eliminate the historic tax credit, information about conservation easements from the FY 2015 budget proposal and the requirements about Louisiana’s historic tax credit program. In renewable energy tax credit news, he discusses the president’s suggestion to permanently renew the renewable energy production tax credit and eventually eliminate the investment tax credit, as well as a Utah bill that would extend the state’s renewable energy production tax credit to solar projects.

Published by Michael Novogradac on March 4, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses House Ways and Means Committee Chairman Dave Camp’s release of a discussion draft of tax code reform proposals and a little about the fiscal year 2015 budget. In low-income housing tax credit news, he analyzes the calendar year 2014 population estimates, discusses the extension of the Physical Inspection Pilot program and alerts listeners to changes in Ohio’s policies for change of management or ownership of LIHTC properties. In new markets tax credit news, he alerts listeners to a change in the amount of allocation authority the Community Development Financial Institutions Fund will award this year. In historic tax credit news, he discusses a recent U.S. Tax Court case in which the court ruled that a state tax credit transaction was a disguised sale. In renewable energy tax credit news, he shares responses from the U.S. Department of the Treasury about the possibly of using investment or production tax credits to offset lower amounts of Section 1603 cash grant funding caused by sequestration and he discusses a recent report from the National Renewable Energy Laboratory about the effectiveness of statelevel solar development policies

Published by Michael Novogradac on February 25, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a memo from Ways and Means Committee Chairman Dave Camp about tax reform legislation that he plans to introduce this week. In low-income housing tax credit news, he shares an update about the Neighborhood Stabilization program, the latest about the Colorado low-income housing tax credit and a call for entries in Charles L. Edson Tax Credit Excellence Awards. In historic tax credit news, he alerts listeners to an upcoming Advisory Council on Historic Preservation meeting and changes to legislation that would create a Nebraska historic tax credit. In renewable energy tax credit news, he shares information about the Novogradac Renewable Energy Conference. In new markets tax credit news, he reminds listeners about a sign-on letter from the New Markets Tax Credit Coalition that requests an extension of the program and a request for comments on the NMTC program allocation application from the Community Development Financial Institutions Fund.

Published by Michael Novogradac on February 18, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the latest periodic raising of the debt limit, the Congressional Budget Office’s Budget Outlook 2014-2024, Sen. Ron Wyden’s takeover of the Senate Finance Committee and tax reform. In low-income housing tax credit news, he alerts listeners to congressional efforts to reform Freddie Mac and Fannie Mae and an upcoming Novogradac & Company LIHTC compliance webinar. In new markets tax credit news, he encourages listeners to sign on to a letter from the NMTC Coalition that asks Congress to extend the new markets tax credit, and he shares information about a new co-sponsor for the New Markets Tax Credit Extension of 2013 (S. 1133) and a plan to double the Kentucky new markets tax credit. In renewable energy news, he discusses the introduction of the Renewable Energy Parity Act of 2014 (S. 2003). In historic tax credit news, he shares the results of a report about the use of state historic tax credits in Virginia.

Published by Michael Novogradac on February 11, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the latest about the debt limit and the confirmation of Sen. Max Baucus as the next U.S. ambassador to China and what it might mean for tax reform. In new markets tax credit news, he shares news about legislation that would permanently extend the New Markets Tax Credit program, a report on the Community Development Financial Institutions Fund’s release of comments on its Community Investment Impact System and compliance reporting, and February’s Qualified Equity Investment Issuance Report. In our low-income housing tax credit news, he covers the passage of the Agriculture Act of 2014 and an additional co-sponsor of the Low-Income Housing Tax Credit Rate Act. In renewable energy tax credit news, he shares the results of a report from the Treasury Inspector General for Tax Administration about potential double dipping in the Section 1603 grant program and a report from the American Wind Energy Association about activity in the wind industry in the last quarter of 2013. On our historic tax credit news, has two state-level updates: one from Indiana and one from Kentucky.

Published by Michael Novogradac on February 4, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses President Obama’s State of the Union address, the fiscal year 2015 budget and another call from lawmakers for tax extenders legislation. In low-income housing tax credit news, he shares a letter that 33 Democratic senators sent to Federal Housing Finance Agency Director Mel Watt asking Watt to begin contributing to the National Housing Trust Fund and the Capital Magnet Fund, as well as a proposed state low-income housing tax credit in Colorado. In historic tax credit news, he shares a report from an Oregon historic preservation advocacy group that shows the impact a state historic tax credit could have for cities and towns throughout the state. In renewable energy tax credit news, he discusses calls for production tax credit and investment tax credit extensions from the Advance Energy Economy and the Center for the New Energy Economy at Colorado State University, and a report from the Solar Foundation that cites the number of jobs created by the solar industry and how they could be affected by an end to the investment tax credit. In new markets tax credit news, he shares news about an additional sponsor for the Manufacturing Communities Investment Act, which would extend the new markets tax credit program through 2016 and released guidelines for Arkansas’s new markets tax credit program.

Published by Michael Novogradac on January 28, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a letter from Treasury Secretary Jacob Lew that asks Congress to address the debt limit before Treasury once again has to use extraordinary measure to keep the country funded; reveal information about a one-month delay of the release of the President’s fiscal year 2015 budget and remind listeners about the 2014 State of the Union address; and share thoughts about extenders legislation. In low-income housing tax credit news, he alerts listeners to the release of a report from Enterprise Community Partners and the Urban Land Institute that examines the cost of building affordable housing and shares a request for comments about setting a baseline for renewable energy capacity at public housing units and multifamily housing portfolios from the U.S. Department of Housing and Urban Development. In historic tax credit news, he has information about more than $2.2 million in historic preservation grants that the National Park Service has awarded to American Indian tribes across the country. In renewable energy tax credit news, he provides information about Department of Energy webinars on tribal communities and renewable energy and energy efficiency in multifamily housing, shares information about Wisconsin legislation that extends the state’s renewable energy tax credit to older facilities and reveals that RECs will be used at this year’s Super Bowl. In new markets tax credit news, he recaps a keynote speech from the CDFI Fund’s Bob Ibanez.

Published by Michael Novogradac on January 21, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the federal fiscal year 2014 budget, tax extenders and a request from nearly 30 congressional representatives to hold hearings on poverty in America. In low-income housing tax credit news, he alerts listeners to the release of Accounting Standards Update No. 2014-01, which contains the new guidelines for accounting for low-income housing tax credit investments, and discusses a letter to Sen. Max Baucus from the LIHTC Working Group that addresses his proposed tax reform measures. In historic tax credit news, he shares information about a new Section 106 toolkit from the Advisory Council on Historic Preservation and recaps a Cincinnati event that highlighted the use of Ohio’s state historic tax credits. In renewable energy tax credit news, he has an update on Oregon’s Business Energy Tax Credit program. In new markets tax credit news, he shares a request from the CDFI Fund for comments about the New Markets Tax Credit program application and information about two new state-level new markets tax credit program bills introduced in Indiana.

Published by Michael Novogradac on January 14, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses an update on the federal fiscal year 2014 and 2015 budgets and the looming debt ceiling. In low-income housing tax credit news, he alerts listeners to a 2014 audit from the Treasury Inspector General for Tax Administration Office of Inspections and Evaluations on the Tax Credit Assistance program (TCAP). In historic tax credit news, he informs listeners about an update to Revenue Procedure 2014-12, the safe harbor guidance for historic tax credit partnerships, and he shares state level news from Alabama and a summary of a recent U.S. Tax Court decision about the transfer of state historic tax credits between partners. In new markets tax credit news, he shares information about a bill that would extend the New Markets Tax Credit program and provide additional allocation for communities affected by the loss of manufacturing jobs and discusses the retirement of long-time new markets tax credit supporter Rep. Jim Gerlach.

Published by Michael Novogradac on January 7, 2014

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the fiscal year 2014 budget, a potential change in Senate Finance Committee leadership and a new report about the success of community development financing tools. In historic tax credit news, he discusses long-awaited safe harbor guidance from the Internal Revenue Service, as well as a prototype programmatic agreement from the Advisory Council on Historic Preservation, Rhode Island’s newest historic tax credit awardees and the Rural Heritage Conservation Act of 2013.In new markets tax credit news, he has information from the Community Development Financial Institutions Fund’s latest Qualified Equity Investment Issuance Report, a study about how new markets tax credits could be used to help end obesity and a bill that would qualify more census tracts for new markets tax credits. In low-income housing tax credit news, he shares information about income-qualified households from Low-Income Housing Credit Newsletter #54 and a report from the Corporation for Supportive Housing about allocation policies that promote supportive housing production. In renewable energy tax credit news, he discusses a proposal from Sen. Max Baucus that would consolidate all existing renewable energy tax credits into two tax credits.

Published by Michael Novogradac on December 17, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with a recap of the latest from Capitol Hill about the fiscal year 2014 budget, tax reform and the Volcker Rule. In low-income housing tax credit news, he discusses the Financial Accounting Standards Board’s ratification of the generally accepted accounting principles changes for low-income housing tax credit investments, updates listeners on the U.S. Department of Housing and Urban Development 2014 rent and income limits and provides information about a Harvard University’s Joint Center of Housing Studies report on affordable housing. In new markets tax credit news, he shares a report from Rapoza Associates about projects completed by community development corporations and provides an update about the Community Development Financial Institutions Fund’s CDFI Information Mapping System upgrade. In historic tax credit news, he shares information about a recommendation to cap Maine’s historic tax credit program, an increase in Wisconsin’s historic tax credit and a U.S. Government Accountability Office report on decommissioned federal courthouses. In renewable energy tax credit news, he discusses a report from the Solar Energy Industries Association about residential solar installations.

Published by Michael Novogradac on December 10, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, provides a recap of the latest discussions about the fiscal year 2014 budget, tax reform and the debt ceiling. In lowincome housing tax credit news, he shares information about a new program for increasing energy efficiency in multifamily housing and the Office of the Comptroller of the Currency’s release of its first 2014 Community Reinvestment Act examination schedule, as well as the potential release of the U.S. Department of Housing and Urban Development 2014 rent and income limits and the nomination of Mel Watt as director of the Federal Housing Finance Agency. In new markets tax credit news, he provides an update about the Community Development Financial Institutions Fund’s CDFI Information Mapping System upgrade and the latest Qualified Equity Investment Issuance report. In our historic tax credit news, he shares the results of a study of the use of the federal historic tax credit in Ohio. In renewable energy tax credit news, he discusses a report that predicts that the United States will be the third largest solar photovoltaic market in the world in 2014.

Published by Michael Novogradac on December 3, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, shares information about the Nov. 13 Budget Conference Committee meeting. In new markets tax credit news, he has information about a series of Capacity Building Initiative workshops and an update on the New Markets Tax Credit Military Installation Act of 2013. In historic tax credit news, he shares the results of a study of public schools in Virginia that could benefit from a change to the prior use rule and the results of a review of New York’s tax credits. In low-income housing tax credit news, he discusses a report from Enterprise and the Urban Land Institute that studies the cost of affordable housing development and suggests ways to contain those costs. In renewable energy tax credit news, he discusses a report from the National Renewable Energy Laboratory about challenges master limited partnerships and real estate investment trusts face when financing renewable energy assets and a request for comments on Internal Revenue Service Form 8835.

Published by Michael Novogradac on November 26, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses Sen. Max Baucus’s tax reform discussion drafts, including cost recovery periods and how they could affect the low-income housing tax credit, and JCX-17-13. In new markets tax credit news, I have a study from the Urban Institute on the effectiveness of the first four years of the New Markets Tax Credit program and the Nevada New Markets Tax Credit program. In historic tax credit news, he reports on efforts to expand the Indiana historic tax credit program. In low-income housing tax credit news, he discusses a National Low Income Housing Coalition report on homelessness among veterans and a comment letter that the LIHTC Working Group sent to the Internal Revenue Service about establishing utility allowances. In renewable energy tax credit news, he reports on the Bipartisan Policy Center’s call to phase-out the production tax credit

Published by Michael Novogradac on November 19, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the Financial Accounting Standards Board’s Emerging Issues Task Force’s decision to allow changes in how to account for tax credit investments, recently issued Community Reinvestment Act guidance and the latest information about tax reform. In low-income housing tax credit news, he details the release of the 2014 difficult development areas (DDAs) and a Congressional Budget Office proposal about the deficit reduction savings from the repeal of the low-income housing tax credit. In historic tax credit news, he has information about the latest Advisory Council on Historic Preservation meeting and legislation in Wisconsin that would double the state’s historic tax credit. In new markets tax credit news, he shares remarks from Comptroller of the Currency Thomas Curry about how the new markets tax credit can be used by banks to meet Community Reinvestment Act requirements. In renewable energy tax credit news, he alerts listeners to the opening of the nomination round for the first Novogradac Journal of Tax Credits Renewable Energy Power Awards

Published by Michael Novogradac on November 12, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the latest reports on tax reform and an upcoming budget conference committee hearing, as well as the Financial Accounting Standards Board Emerging Issues Task Force’s upcoming meeting about accounting for tax credit investments. In low-income housing tax credit news, he discusses the impending release of the 2014 qualified census tracts and difficult development areas, and a housing finance reform hearing. In historic tax credit news, he alerts listeners to Sen. Angus King of Maine’s support of the Rural Heritage Conservation Act. In renewable energy tax credit news, he discusses new solar project contract templates that could reduce costs for solar projects and a newsletter from the Office of the Comptroller of the Currency about public welfare investments in wind energy. In new markets tax credit news, he alerts listeners to the Community Financial Institutions Fund’s delay of its launch of the third version of the CDFI Information Mapping System.

Published by Michael Novogradac on November 5, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the first meeting of the Budget Conference Committee, tax reform and a potential vote on the Volcker rule. In new markets tax credit news, he shares a letter from 70 Representatives that urges the permanent extension of the New Markets Tax Credit program, discusses legislation that would set-aside new markets tax credits for projects in areas affected by military base closures and discloses information about a request for comments about the Community Development Financial Institutions Fund Bond Guarantee program. In low-income housing tax credit news, he shares the calendar year 2014 low-income housing tax credit and private activity bond caps, as well as Sen. Mike Crapo’s support for legislation that would make the 9 percent floor permanent. In historic tax credit news, he discusses a report from Sen. Tom Coburn that addresses some of the costs of the historic tax credit program.

Published by Michael Novogradac on October 29, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses tax credit reform. In new markets tax credit news, he shares information about the applications that the Community Development Financial Institutions Fund received for the 2013/2014 allocation round. In low-income housing tax credit news, he discusses Low-Income Housing Credit Newsletter #53, a favorable property tax court ruling in Mississippi and the possible extension of California’s readiness deadline. In renewable energy tax credit news, he discusses a report from the Interstate Renewable Energy Council about trends in renewable energy and a letter from the Western Governors’ Association requesting a change to the production tax credit. In historic tax credit news, he has an update on the Internal Revenue Service’s safe harbor guidance for historic tax credit transactions.

Published by Michael Novogradac on October 22, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses tax credit reform, the end of the government shutdown and the raising of the debt ceiling, and Basel III minimum capital requirements. In new markets tax credit news, he discusses an upgrade to the Community Development Financial Institutions Fund’s Information Mapping System and a request from the CDFI Fund for 2013/2014 new markets tax credit application reviewers. In lowincome housing tax credit news, he shares information about a California law that allows developers of special needs housing to get state tax credits. In renewable energy tax credit news, he discusses a report from the Solar Energy Industry Association about commercial solar installations. In historic tax credit news, he discusses a report about building reuse in Los Angeles and legislation in Wisconsin that would double the state’s historic tax credit percentage.

Published by Michael Novogradac on October 15, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the federal government shutdown and the looming debt ceiling. In new markets tax credit news, he shares the latest qualified equity investment issuance report. In low-income housing tax credit news, he discusses a hearing about the future of Fannie Mae and Freddie Mac and multifamily housing development and shares a letter that the New York State Association of Affordable Housing is sending to Sen. Chuck Schumer urging him to introduce a Hurricane Sandy relief bill. In renewable energy tax credit news, he discusses a report from the Interstate Renewable Energy Council about the photovoltaic system approval process and changes to the Louisiana Solar Electric System Income Tax Credit program. In historic tax credit news, he shares the results of Alabama’s historic tax credit review lottery.

Published by Michael Novogradac on October 8, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the federal government shutdown and the looming debt ceiling. In new markets tax credit news, he shares the first round of allocatees and issuers under the Community Development Financial Institutions Fund Bond Guarantee program and the opening of Nevada’s first new markets tax credit allocation round. In low-income housing tax credit news, he alerts listeners to the U.S. Department of Housing and Urban Development’s release of the final fiscal year 2014 fair market rents and the Internal Revenue Service’s suspension of program occupancy requirements in areas affected by severe storms in Colorado. In renewable energy news, he discusses a recent House Oversight and Government Reform Subcommittee hearing on energy policy and the fate of the production tax credit. In historic tax credit news, he shares a petition requesting the end of the government shutdown that the National Trust for Historic Preservation is sending to Congress.

Published by Michael Novogradac on October 1, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the federal government shutdown and its effects on tax credit programs and the U.S. Department of Housing and Urban Development programs. In renewable energy news, he shares new guidance from the Internal Revenue Service on “begin-construction” requirements for the production tax credit and a recent transaction spurred by the credit’s extension; he also alerts listeners to an upcoming hearing about the credit. In low-income housing tax credit news, he covers a federal subsidy that the Federal Housing Administration will be taking and the fiscal year 2014 mortgage insurance premiums. In new markets tax credit news, he alerts listeners to a new program extension support letter that is being circulated in the House of Representatives. In historic tax credit news, he shares the findings of a study on the use of historic tax credits in predominantly African-American neighborhoods and the opening of the Alabama historic tax credit program’s first application round.

Published by Michael Novogradac on September 24, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, updates listeners on the fiscal year 2014 budget and the approaching debt ceiling, and the Volcker Rule. In lowincome housing tax credit news, he discusses proposed regulations from the Internal Revenue Service and an upcoming hearing about tax-exempt bond arbitrage rebate regulations, as well as two Senators’ visit to tribal lands in Montana. In renewable energy tax credit news, he shares recent guidance from the Office of the Comptroller of the Currency about public welfare investments in wind energy projects. In new markets tax credit news, he discloses the record number of signatories to a letter that the New Markets Tax Credit Coalition has sent to Congress in support of the program. In historic tax credit news, he reveals that the Advisory Council on Historic Preservation has released a Section 106 toolkit.

Published by Michael Novogradac on September 17, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, shares news about legislation and continuing resolutions that could provide funding for fiscal year 2014 and changes to the rural housing determinations that could affect rural properties. In low-income housing tax credit news, he discusses the Financial Accounting Standards Board’s Emerging Issues Task Force’s debate about accounting for the low-income housing tax credit. In renewable energy tax credit news, he covers the possibility of additional IRS guidance on the production tax credit, as well as a recent report that shows that wind farms do not impact house values. In historic tax credit news, he discusses a fiscal year 2013 report from Missouri about the use of state historic tax credits and low-income housing tax credits. In new markets tax credit news, he alerts listeners to the opening of Nebraska’s new markets tax credit program’s allocation round.

Published by Michael Novogradac on September 10, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, updates Congress’s return to session and the issues that they are facing in the next few weeks. In low-income housing tax credit news, he discusses discuss the Financial Accounting Standards Board’s Emerging Issues Task Force’s meeting this week to make a final ruling on amendments affecting the low-income housing tax credit, and the U.S. Department of Housing and Urban Development’s decision to eliminate audits for small multifamily developments. In historic tax credit news, he shares information about Virginia Gov. Bob McDonnell’s campaign to change the historic tax credit so that it can be used for school modernization projects, as well as a reminder about next week’s fast-approaching Historic Tax Credit Conference in Detroit. In new markets tax credit news, he alert listeners to the latest Qualified Equity Investment Report from the CDFI Fund and some key dates for the 2013/2014 NMTC application round.

Published by Michael Novogradac on September 3, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, informs listeners about the next stop on Senate Finance Committee Chairman Max Baucus and House Ways and Means Chairman Dave Camp’s tax reform tour and about Treasury Secretary Jacob Lew’s request that Congress raise the debt ceiling. In low-income housing tax credit news, he discusses the U.S. Department of Housing and Urban Development’s changes to Handbook 4350.3, as well as the Internal Revenue Service’s LIHC Newsletter #52 and request for comments about the LIHTC program’s utility allowances and carryover agreements. In new markets tax credit news, he alerts listeners to a new NMTC Insights report on the investment potential of new markets tax credits and a request for comments on how the CDFI Fund collects information on projects. In historic tax credit news, he has a state level update from Rhode Island, which has awarded its first historic tax credits since 2008. In renewable energy tax credit news, he shares information about a new federal financing program resource guide from the Department of Energy.

Published by Michael Novogradac on August 27, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, shares comments that Senate Finance Committee Chairman Max Baucus last week made about the new markets tax credit and tax reform. In low-income housing tax credit news, he discusses the U.S. Department of Housing and Urban Development’s Hurricane Sandy Rebuilding Strategy. In historic tax credit news, he has a state-level update from Kentucky about the use of the state and federal historic tax credits and alerts listeners to a recently announced National Park Service workshop taking place in Detroit next month. In new markets tax credit news, he tells listeners about an updated 2013/2014 NMTC application question and answer document from the Community Development Financial Institutions Fund. In renewable energy tax credit news, he shares the contents of a letter from more than 60 Representatives and several industry organizations requesting tax credit certainty.

Published by Michael Novogradac on August 20, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, shares with listeners updates to the Treasury Department’s 2013-2014 priority guidance plan. In low-income housing tax credit news, he discusses new Hurricane Irene and Tropical Storm Lee relief legislation, a report about the use of low-income housing tax credits in rural areas and an Internal Revenue Service phone forum on tax-exempt bonds and post-issuance compliance. In new markets tax credit news, he alerts listeners to some of the resources that Novogradac & Company offers to increase the effectiveness of 2013/2014 NMTC applications. In historic tax credit news, he shares a state level update from Massachusetts about the use of the state’s historic rehabilitation tax credit in 2012. In renewable energy tax credit news, he discusses energy tax credit legislation that was recently introduced in the House.

Published by Michael Novogradac on August 13, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, updates listeners about three new tax reform letters from Senators and on congressional activities. In low-income housing tax credit news, he analyzes the proposed fiscal year 2014 Fair Market Rents and alerts listeners to a lack of funding for the Section 521 Rental Assistance program. In new markets tax credit news, he reminds listeners of upcoming 2013/2014 allocation round deadlines and the release of the electronic application, as well as discusses the latest qualified equity investment issuance report, including a recent change to the information included in the monthly report. In historic tax credit news, he discusses legislation to incentivize installing elevators and sprinklers in historic buildings, provides state level updates from North and South Carolina, and informs listeners about a National Park Service video about the historic tax credit program. In renewable energy tax credit news, he reveals the results of an American Wind Energy Association report on wind energy production and a U.S. Department of Energy and Lawrence Berkeley National Laboratory report on wind technologies, as well as shares views on the principles of energy tax reform that experts provided during a Senate Finance Committee hearing.

Published by Michael Novogradac on August 6, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses lawmakers’ responses to Sens. Max Baucus and Orrin Hatch’s request for tax reform proposals, a Treasury Inspector General for Tax Administration audit of the potential for improper or fraudulent bond tax credit claims and upcoming legislative deadlines. In low-income housing tax credit news, he alerts listeners to legislation introduced to make permanent a fixed floor for the 9 percent and 4 percent tax credits and to increase LIHTC allocations to tribal areas, as well as the U.S. Department of Housing and Urban Development’s release of its proposed fiscal year 2014 fair market rents. In historic tax credit news, he reveals the results of the National Park Service and Rutgers University’s 2012 report on the use of HTCs and Vermont’s award of its 2014 Downtown Historic Tax Credits. In new markets tax credit news, he encourages listeners to sign on to the New Markets Tax Credit Coalition’s advocacy letter to support the NMTC program, to participate in a user survey on the Community Development Financial Institutions Fund website and to submit the paperwork necessary to participate in the 2013 and 2014 allocation rounds. In renewable energy tax credit news, he shares the Interstate Renewable Energy Council’s sixth annual report on solar installation trends.

Published by Michael Novogradac on July 30, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, updates listeners about House Ways and Means Committee Chairman Dave Camp and Senate Finance Committee Chairman Max Baucus’s tax reform tour and 18 Senators’ responses to the call for proposals, as well as industry groups’ responses to those proposals. In new markets tax credit news, he alerts listeners to the opening of the 2013 and 2014 allocation rounds. In historic tax credit news, he discusses a conservation easement case and legislation introduced to make the conservation easement incentive permanent, and he announces the reinstatement of Rhode Island’s historic preservation tax credit. In low-income housing tax credit news, he discusses the U.S. Department of Housing and Urban Development’s first major change to the HOME program since 1996. In renewable energy tax credit news, he alerts listeners to a Senate committee hearing on principles for energy tax reform, an update on renewable energy generation as compared to conventional energy sources and a report on the leading states for solar energy production.

Published by Michael Novogradac on July 23, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, provides updates on tax reform and the debt ceiling. In new markets tax credit news, he reminds listeners that the 11th round of new markets tax credit allocations is expected to open soon. In renewable energy tax credit news, he alerts listeners to the House version of the Biomass Thermal Utilization Act of 2013. In low-income housing tax credit news, he discusses Democrats housing finance reform principles and new U.S. Department of Housing and Urban Development fair housing rules. In historic tax credits, he recaps use of the Missouri state historic tax credit in fiscal year 2013 and calendar year 2012

Published by Michael Novogradac on July 16, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, encourages listeners to sign on to organizational support letters for the low-income housing tax credit and new markets tax credit. In low-income housing tax credit news, he alerts listeners to a survey on the LIHTC program that the Community Development Department at the Federal Reserve Bank of St. Louis is conducting and to the Federal Housing Administration’s recently announced priorities for its remaining fiscal year 2013 multifamily commitment authority. In new markets tax credit news, he shares the recipients of the fourth round of the state’s new markets tax credits and he encourages the public to provide input to the NMTC Working Group. In historic tax credit news, he reports additional support for The Rural Heritage Conservation Act of 2013 (S. 526) and he reminds listeners to nominate projects for the Journal of Tax Credits Historic Rehabilitation Awards.

Published by Michael Novogradac on July 9, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the kickoff of House Ways and Means Committee Chairman Dave Camp and Senate Finance Committee Chairman Max Baucus’s tax reform tour and the soon-to-be-implemented Basel III regulations. In new markets tax credit news, he shares recently released data from the Community Development Financial Institutions Fund about NMTC projects through 2011 and an update on the NMTC market and credit pricing. In historic tax credit news, he alerts listeners to an upcoming meeting of the Advisory Council on Historic Preservation and to an increase in areas eligible for the New York historic tax credit. In low-income housing tax credit news, he tells listeners about a Novogradac and Company Year 15 webinar and a new bridge and construction loan program for multifamily properties in Kentucky. In renewable energy tax credit news, he discusses the recently introduced Qualifying Renewable Chemical Production Tax Credit Act of 2013 (S. 1267) and an American Council on Renewable Energy study on strategies to scale-up renewable energy investment.

Published by Michael Novogradac on July 2, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses proposed “blank slate” tax reform and the upcoming dates for Congress. In renewable energy tax credit news, he covers the Prioritizing Energy Efficient Renewables (PEER) Act, which would permanently extend the production tax credit, and the Solar Uniting Neighborhoods (SUN) Act, which would make solar systems installed off-site eligible for the residential renewable energy tax credit. In historic tax credit news, he alerts listeners to upcoming National Park Service’s Technical Preservation Services educational webinars and the potential reinstatement of Rhode Island’s historic tax credit. In low-income housing tax credit news, he discusses an annual housing report from the Harvard Joint Center for Housing Studies and what’s next for the farm bill in the House. In new markets tax credit news, he alerts listeners to CDFI Bond Guarantee Program update, including new information sessions and legal documents.

Published by Michael Novogradac on June 25, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses building momentum for tax reform and what may need to happen for tax reform to be successful this year. In historic tax credit news, he alerts listeners to the reintroduction of the Creating American Prosperity Through Preservation Act, or CAPP Act, as well as an update on promised guidance from the Internal Revenue Service on safe harbor for HTC transactions. In low-income housing tax credit news, he explores a final rule that the U.S. Department of Housing and Urban Development has issued on the Section 202 and Section 811 programs and how that affects LIHTC properties. In new markets tax credit news, he alerts listeners to a conference recording of the Novogradac Spring New Markets Tax Credit Conference, this month’s Qualified Equity Investment Issuance Report and a correction from Treasury about the master servicer/trustee application for the CDFI Bond Guarantee Program.

Published by Michael Novogradac on June 18, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the comment letters submitted in response to the Financial Accounting Standards Board’s exposure draft of the proposed accounting standards update regarding affordable housing investments. In new markets tax credit news, he alerts listeners to a bill to make the new markets tax credit permanent and to the launch of the CDFI Bond Guarantee program. In historic tax credit news, he discusses an extension of Louisiana’s historic tax credit and reminds listeners that there is still time to nominate projects for the Novogradac Journal of Tax Credits Historic Rehabilitation Awards. In low-income housing tax credit news, he invites listeners to Novogradac’s first Nonprofit Developers Conference and updates them on the fiscal year 2014 farm bill, which includes a rural status provision. In renewable energy tax credit news, he talks about the Solar Energy Industries Association’s Q1 2013 report on solar energy installed and a Nebraska sales tax exemption for the purchase of wind turbines, towers and other wind farm components.

Published by Michael Novogradac on June 11, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the start of the fiscal year 2015 budget process and two Congressional hearings: a House Financial Services Committee hearing on alternative housing finance models and a Ways and Means Committee hearing on tax reform. In new markets tax credit news, he alerts listeners to the end of the census tract transition period and the New Markets Tax Credit Coalition’s 2013 NMTC Progress Report. In renewable energy tax credit news, he tells listeners about the National Renewable Energy Laboratory 2012 Utility Green Power Leaders. In historic tax credit news, he reminds listeners that there is still time to nominate developments for the Novogradac Journal of Tax Credits Historic Rehabilitation Awards. In low-income housing tax credit news, he reports on the National Association of Home Builders annual legislative conference at which more than 750 builders urged Congress to support policies that sustain the housing recovery and increase the availability of affordable housing.

Published by Michael Novogradac on June 4, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, in new markets tax credit news, discusses non-real estate investment guidance from the Internal Revenue Service and encourages people to send their comments on the new markets tax credit to TaxReform.gov. In historic tax credit news, he explains a bill introduced to expand and increase the historic tax credit and a Texas historic tax credit bill that has been sent to the governor, as well as a report on the benefit of the historic tax credit in Montana. In low-income tax credit news, he alerts listeners to the IRS’s suspension of certain requirements in Oklahoma and to a new tool to evaluate syndicators. In renewable energy tax credit news, he covers the recently introduced Storage Technology for Renewable and Green Energy Act, which would create a 30 percent tax credit for technologies that store energy from renewable sources for use during offpeak hours.

Published by Michael Novogradac on May 28, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a bipartisan bill for Hurricane Sandy tax relief. In historic tax credit news, he updates listeners to the Supreme Court’s recent decision on the Historic Boardwalk Hall case and on state-level tax credits from Louisiana, Minnesota and Missouri, as well as alerts listeners to a letter from members of urging the Internal Revenue Service to issue guidance on historic tax credit partnerships and. In new markets tax credit news, he tells listeners about the Louisiana New Markets Job Act. In low-income housing tax credit news, he reminds listeners of the Financial Accounting Standards Board Emerging Issues Task Force’s upcoming deadline for comments on proposed accounting changes for the low-income housing tax credit and alerts them to a Massachusetts housing bond bill that is advancing through the state house. In renewable energy tax credit news, he discusses a report from the Solar Energy Industries Association on the Department of Defense’s solar energy development.

Published by Michael Novogradac on May 21, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses doubts raised about tax reform in the wake of recent scandals at the Internal Revenue Service, a Senate Finance Committee paper that details tax reform options and a House Ways and Means Committee hearing on small business tax reform. In historic tax credit news, he tells listeners about a National Park Service report commemorating the 35th anniversary of the historic tax credit program, the recently enacted Alabama historic tax credit program and the possible reestablishment of the Rhode Island historic tax credit. In low-income housing tax credits, he reports on a Center for Housing Policy report that found that the low-income housing tax credit promotes the interests and wellbeing of children. In new markets tax credit news, he discusses Louisiana state tax credits that avoided the chopping block.

Published by Michael Novogradac on May 14, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, announces the Senate Finance Committee, House Ways and Means Committee and Joint Committee on Taxation’s launch of TaxReform.gov, a new website dedicated to obtaining public input about tax reform, and announces a Ways and Means Select Revenue Measures Subcommittee hearing about the small business and pass-through entity tax reform discussion draft, as well as a few other congressional committee meetings, and a reminder about the debt ceiling. In new markets tax credit news, he reports on the potential introduction of legislation to make the new markets tax credit permanent and describes a Texas bill to create a new markets tax credit program in that state. In historic tax credit news, he relays Rep. Niki Tsongas’s call for guidance on the historic tax credit program, and alerts listeners to bills that would affect state-level programs in Missouri and Iowa. In low-income housing tax credit news, he alerts listeners to Novogradac and Company’s “Affordable Rental Housing After Tax Reform: Calculating Corporate Tax Reform's Possible Effects on Equity Raised from Low-Income Housing Tax Credits” report and a call from the National Housing Conference and the Center for Housing Policy to temporarily increase low-income housing tax credits for supportive veterans housing. In renewable energy tax credit news, he reports on a Nebraska bill that would enable renewable energy sources to qualify for the Nebraska Advantage Act.

Published by Michael Novogradac on May 7, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a recent Joint Committee on Taxation Report and its implications for tax credit programs. In new markets tax credit news, he discusses the 2012 allocation agreement template and the latest qualified equity investment issuance report. In historic tax credit news, he alerts listeners to upcoming safe harbor guidance from the Internal Revenue Service. In low-income housing tax credit news, he covers the National Housing Council’s Center for Housing Policy’s 2013 Housing Landscape report and the search for a new executive director of the Texas Affiliation of Affordable Housing Providers. In renewable energy tax credit news, he discusses the U.S. Department of the Treasury’s annual report on the Section 1603 program.

Published by Michael Novogradac on April 30, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses tax reform, the retirement of Senate Finance Committee Chairman Max Baucus and residential real estate. In new markets tax credit news, he announces the results of the 2012 allocation round. In lowincome housing tax credit news, he discusses a recent House Ways and Means Committee on tax reform and residential real estate. In renewable energy tax credit news, he alerts listeners to additional binding written contract guidance from the Internal Revenue Service and the reintroduction of the Master Limited Partnerships Parity Act. In historic tax credit news, he provides an update on the Historic Boardwalk Hall case and information from the National Park Service’s Federal Tax Incentives for Rehabilitating Historic Buildings Annual Report for Fiscal Year 2012.

Published by Michael Novogradac on April 23, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a letter that representatives have sent House Speaker John Boehner a letter urging Hurricane Sandy relief, as well as an updated Simpson-Bowles deficit plan and a Ways and Means Committee hearing on residential real estate and tax reform. In renewable energy tax credit news, he alerts listeners to long-awaited Internal Revenue Service guidance on when projects have “begun construction” for investment tax credit and production tax credit purposes, and alerts listeners to the reintroduction of the Security in Energy and Manufacturing Act (SEAM) Act and the Make It in America: Create Clean Energy Manufacturing Jobs in America Act. In low-income housing tax credit (LIHTC) news, he discusses the Financial Accounting Standards Board Emerging Issues Task Force proposed changes to LIHTC-related GAAP rules and Standard & Poor’s proposed changes to how it rates multifamily housing bonds. In new markets tax credit news, he discusses the Senate approval of a bill reauthorizing the Missouri NMTC program. In historic tax credit (HTC) news, he discusses a Wisconsin bill that would quadruple the amount of HTCs to qualified projects.

Published by Michael Novogradac on April 16, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses provisions related to the low-income housing tax credits, new markets tax credits and renewable energy tax credit in President Obama’s proposed fiscal year 2014 budget. In other low-income housing tax credit news, he discusses a new qualified allocation plan for the Northern Mariana Islands. In other new markets tax credit news, he discusses guidance from the Community Development Financial Institutions Fund on reporting project information for projects involving multiple community development entities. In historic tax credit news, he discusses a proposed change to conservation easement rules that was included in the President’s budget proposal and the progress of a state historic tax credit bill in Indiana.

Published by Michael Novogradac on April 9, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the upcoming release of the president’s fiscal year 2014 budget, several congressional committee hearings and the postponement of a U.S. Department of Housing and Urban Development meeting. In low-income housing tax credit news, he analyzes the FY2013 tax credit allocations and a National Council of State Housing Agencies report on LIHTC Utilization, as well as alerts listeners to an impending audit of Missouri’s LIHTC program. In historic tax credit news, he shares the latest developments about an Alabama state HTC program. In new markets tax credit news, he reveals the Community Development Financial Institutions Fund’s latest qualified equity investment issuance report. In renewable energy tax credit news, he alerts listeners to the recently issued section 45 reference rates

Published by Michael Novogradac on April 2, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, reminds listeners about President Obama’s soon-to-be-released fiscal year 2014 budget and upcoming congressional hearings and alerts listeners to a potential change in the business interest deduction and an upcoming U.S. Department of Housing and Urban Development oversight hearing. In low-income hosing tax credit news, he discusses Novogradac & Company’s new analysis of the effect of tax reform on the LIHTC and provides some preliminary analysis about the 2013 population figures released last week. In historic tax credit news, he covers the latest in the Historic Boardwalk Hall case and an extension of the New York HTC program. In new markets tax credit news, he discusses bills in California and Arkansas that would create statelevel NMTC programs. Finally, in renewable energy tax credit news, he discusses a recent audit of the advanced energy manufacturing tax credit and a rulemaking hearing for Oregon’s business energy tax credit.

Published by Michael Novogradac on March 26, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, alerts listeners to the passage of a six-month continuing resolution for fiscal year 2013, proposed changes in Community Reinvestment Act credit for investments and a request for comment from the Internal Revenue Service on its 2013-2014 Guidance Priority List. In new markets tax credit news, he reminds listeners of the upcoming NMTC allocation and the Novogradac Spring New Markets Tax Credit Conference. In historic tax credit news, the National Park Service has released eight actions to improve and expand the HTC program. In low-income housing tax credit news, he tells listeners about a grandfathering of rural areas that allows those areas to access U.S. Department of Agriculture funding. In renewable energy tax credit news, he alerts listeners to several proposals to repeal energy tax incentives.

Published by Michael Novogradac on March 19, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a document from Rep. Dave Camp aimed at reforming the tax code for small businesses and an announcement from Rep. Pat Tiberi that the Select Revenue Measures subcommittee would hold a meeting on financial products tax reform, as well as several upcoming hearings and key dates. In historic tax credit news, he discusses a bill that would make permanent enhanced tax incentives for conservation easements, a report from the Office of the Chief Financial Officer of the District of Columbia that analyzes how state historic tax credits affect the leveraging of resources through the federal HTC and the Ohio Historic Preservation Tax Credit program’s 10th application round. In low-income housing tax credit news, he alerts listeners to a request for comments from the Financial Accounting Standards Board Emerging Issues Task Force about limited partnerships and a document from the American Bar Association’s Section on Taxation that offers suggestions for simplifying the tax code for real estate.

Published by Michael Novogradac on March 12, 2013

Fiscal Year 2014 Budget; Tax Expenditures; CCA20124002F; Alabama Historic Tax Credit (H.B. 140); California Fiscal Year 2013 Income Limits; Production Tax Credit Rules; Qualified Equity Issuance Report

Published by Michael Novogradac on March 5, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the effect of the sequester, potential tax reform and public welfare investments. In historic tax credit news, he alerts readers to the reintroduction of a bill that would extend historic tax credits to homeowners and the introduction of a bill in Georgia that would expand that state’s historic tax credit program. In low-income housing tax credit news, he discusses a report that calls for more balance in choosing locations for LIHTC developments. In renewable energy tax credit news, he discusses a report from the Bipartisan Policy Center that recommends extending the production tax credit and then phasing it out the by the end of 2016. In new markets tax credit news, he reviews highlights from the CDFI Fund’s first “Year-in-Review” and a bill to extend the Missouri NMTC program.

Published by Michael Novogradac on February 26, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the impending sequestration and an amended Simpson-Bowles fiscal plan. In historic tax credit news, he alerts listeners to a Missouri bill that would limit the state’s historic tax credits and an upcoming Advisory Council on Historic Preservation Meeting. In low-income housing tax credit news, he discusses a report form the Bipartisan Policy Center’s Housing Commission that recommends expanding the Low-Income Housing Tax Credit program, a special LIHTC allocation round in Mississippi intended to increase housing near health care facilities, and the Federal Housing Administration’s easing of mortgage approvals for multifamily rental properties. In renewable energy tax credit news, he discusses President Obama’s call to make the production tax credit permanent and refundable, as well as the Sustainable Energy Act, a bill recently introduced that would extend the PTC for an additional seven years and allow it to be exchanged for investment tax credits. In new markets tax credit news, he alerts listeners to a bill that would create a state NMTC for Indiana.

Published by Michael Novogradac on February 19, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the State of the Union address and response, as well as several legislative committees formed to address tax reform and key deadlines that are approaching. In historic tax credit news, he alerts listeners to propped changes to the Indiana state HTC. In low-income housing tax credit news, he discusses a letter that the LIHTC Working Group about the potential loss of rural designations, the National Council of Housing Market Analysts’ Model Content Standards for Rental Housing Market Studies and its market study index, and a call for nominations for the Charles L. Edson Tax Credit Excellence Awards. In new markets tax credit news, he discusses the CDFI Bond Guarantee program. In renewable energy tax credit news, he discusses two new bills: the Public Land Renewable Energy Development Act and a soon-to-be-introduced offshore wind energy tax credit bill.

Published by Michael Novogradac on February 12, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses tax expenditures, sequestration, tax reform and charitable contributions, a Congressional Budget Office economic outlook for 2013 though 2023, smart growth and sustainable communities, the nomination of Jack Lew for Treasury Secretary and the president’s State of the Union address. In historic tax credit news, he reports on the president’s nomination of Sally Jewell for Secretary of the Interior and a Missouri Senate Appropriation Committee hearing on state tax credit programs. In low-income housing tax credit news, he discusses IRS Notice 2013-9 and Hurricane Sandy, the Treasury’s Priority Guidance Plan, and a Mississippi bill that would reduce taxes for affordable housing properties. In new markets tax credit news, he alerts listeners to CDFI Fund listening sessions, recertification guidelines for CDFIs, qualified equity investment issuance for January and an upcoming CDFI Fund Advisory Board meeting. In renewable energy tax credit news, he discusses phase two of the Section 48C Advance Energy Manufacturing Tax Credit program and two solar tax credit bills in Hawaii.

Published by Michael Novogradac on February 5, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, opens with an Office of Management and Budget sequestration memo, post-fiscal cliff financial analysis and tax loopholes that could be closed. In historic tax credit news, he discusses Secretary of the Interior Ken Salazar’s request that the National Park Service review the HTC program rules and Rhode Island’s historic tax credit program. In low-income housing tax credit news, he discusses a meeting between Sen. Max Baucus and the Housing Advisory Group. In new markets tax credit news, he discusses an interim rule for the CDFI Fund Bond Guarantee programs and a report on CDFIs’ response to Superstorm Sandy. In renewable energy tax credit news, he alerts listeners to a call for guidance on the production tax credit eligibility and an American Wind Energy Association report on electric generating capacity.

Published by Michael Novogradac on January 29, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, opens with news about the debt ceiling, upcoming fiscal deadlines and tax reform. In historic tax credit news, he discusses proposed changes to New York’s Historic Commercial Properties Rehabilitation tax credit program and the latest development in the Historic Boardwalk Hall Case. In low-income housing tax credit news, he discusses the U.S. Department of Housing and Urban Development’s Energy and Performance Information Center and the Iowa Finance Authority’s housing priorities. In new markets tax credit news, he alerts listeners to a request for comments about Alaska’s New Markets Tax Credit Assistance Guarantee and Loan Program. In renewable energy tax credit news, he discusses a request for comments on the Section 1603 program and a Blue Planet Foundation report on Hawaii’s solar energy tax credit.

Published by Michael Novogradac on January 22, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, opens with a mention of President Barack Obama’s inauguration and upcoming fiscal deadlines, as well as an announcement about hearings on the debt limit. In historic tax credit news, he discusses a state historic tax credit bill that has been introduced in Nebraska and a Government Accountability Office report on the need for improved data about federally owned historic properties. In lowincome housing tax credit news, Mr. Novogradac discusses an accounting change being proposed by the Federal Accounting Standards Board’s Emerging Industry Task Force and an update to Novogradac’s LIHTC Mapping Tool. In renewable energy tax credit news, he alerts listeners to a new version of the Energy Freedom and Economic Prosperity Act proposed last week that would eliminate energy tax credits. In new markets tax credit news, he alerts listeners about this week’s Novogradac New Markets Tax Credit Conference

Published by Michael Novogradac on January 15, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses two reports on tax expenditures, one from the Government Accountability Office and one from the National Taxpayer Advocate, and the Treasury Secretary Timothy Geithner’s resignation and President Obama’s nomination of Jack Lew. In new markets tax credit news, he invites listeners to the Novogradac New Markets Tax Credit Conference. In historic tax credit news, he alerts listeners to the National Trust for Historic Preservation’s call for nominations for its 2013 list of the Most Endangered Historic Places. In low-income housing tax credit news, he discusses the U.S. Department of Housing and Urban Development’s HOME and the Low-Income Housing Tax Credit Guidebook. In renewable energy news, he discusses a Journal of Tax Credits article about attracting investors to renewable energy projects.

Published by Michael Novogradac on January 8, 2013

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the American Taxpayer Relief Act of 2012 (H.R. 8), as well as the issues not yet addressed by the 113th Congress. In new markets tax credit news, he shares the Community Development Financial Institutions Fund’s announcement that it will announce 2012 allocations in April and the monthly Qualified Equity Investment Issuance Report. In historic tax credit news, he alerts listeners to a frequently asked question document that the National Park Service has released about application fee changes. In low-income housing tax credit news, he shares a legislative victory in Ohio for LIHTC property owners and California’s 2013 and 2014 operating expense minimums. Finally, in renewable energy tax credit news, he alerts listeners to a change to the production tax credit.

Published by Michael Novogradac on December 18, 2012

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the fiscal cliff, Superstorm Sandy and the National Disaster Tax Relief Act of 2012, and House and Senate finance committee changes. In low-income housing tax credit news, he analyzes the fiscal year 2013 income limits and a negative private letter ruling from the IRS. In renewable energy tax credit news, he alerts listeners to additional support for the production tax credit extension from wildlife advocates and the U.S. Department of Energy, and reveals the details of two reports, one on the solar energy market and one about Cincinnati’s solar potential. In historic tax credit news, he talks about federal agencies collaborating to protect sacred tribal sites, the latest recommendations from the Missouri Tax Credit Review Commission and Gov. Cuomo’s veto of a New York historic tax credit expansion. In new markets tax credit news, he reveals the results of the first-ever economic impact report from the New Markets Tax Credit Coalition.

Published by Michael Novogradac on December 11, 2012

In today’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, updates listeners about progress on the fiscal cliff, including the Bland Bargain and Domenici-Rivlin plan; a report from the Congressional Budget Office report on the taxation of pass-through entities; and upcoming congressional hearings. In low-income housing tax credit news, he discusses the U.S. Department of Housing and Urban Development’s release and correction of the fiscal year 2013 income limits and a Government Accountability Office study of Housing and Economic Recovery Act-related changes to the LIHTC program. In renewable energy tax credit news, he discusses an Internal Revenue Service private letter ruling that affects the treatment of power purchase agreements and new regulations on tribal land surface leases. In historic tax credit news, he updates listeners about a New York state historic tax credit bill that has been sent to the governor. Finally, in new markets tax credit news, he covers a qualified equity issuance report and an Ohio NMTC bill moving through the legislature.

 

Published by Michael Novogradac on December 4, 2012

In today’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, updates listeners on the fiscal cliff. In historic tax credit news, he covers a National Park Service Fee change for historic tax credit projects, a deadline extension for the Missouri Tax Credit Review Commission and the formation of an Iowa state HTC stakeholder group. In low-income housing tax credit news, he covers U.S. Department of Housing and Urban Development’s utility allowance and smoke-free building policies. In renewable energy tax credit news, he updates listeners about additional support for the extension of the production tax credit. Finally, he wraps up with new markets tax credits news about a Community Development Financial Institutions Fund report on native communities’ access to capital and credit.

Published by Michael Novogradac on November 27, 2012

Michael J. Novogradac, CPA, shares the investment tax credit news of the week. In general news, Mr. Novogradac discusses Congress’s return and how the fiscal cliff might affect the 2013 tax season. In historic tax credit news, he alerts listeners to Sen. Charles Schumer’s support of the Creating American Prosperity Through Preservation Act and the 50th anniversary of the National Historic Preservation Act. In new markets tax credit news, he alerts listeners to Sen. Schumer’s and charter school officials’ support of a NMTC program extension. In low-income housing tax credit news, he shares the latest for the Small Area FMR Demonstration program and a canceled utility submetering hearing. In renewable energy news, he shares two reports: one on jobs and one on states’ renewable energy projects and programs.

Published by Michael Novogradac on November 20, 2012

Michael J. Novogradac, CPA, discusses the negotiations surrounding the fiscal cliff, prospects for a Superstorm Sandy federal recovery bill, a recent hearing and guidance on proposed regulatory capital rulemakings under Basel III and the FHA’s annual financial status report in general tax credit news. The historic tax credit news segment features an announcement of historic preservation training opportunities through the Advisory Council on Historic Preservation and news from Alabama on the possible creation of a state-level historic tax credit program. Low-income housing tax credit news includes a discussion of the Federal Housing Finance Agency’s multifamily affordable housing goals for Fannie Mae and Freddie Mac, as well as the New York Department of Homes and Community Renewal’s decision to extend its funding application deadline after Hurricane Sandy. In renewable energy tax credit news, he discusses the Governors’ Wind Energy Coalition’s efforts to extend the wind PTC and provides state renewable energy program updates from Hawaii and Pennsylvania. Mr. Novogradac wraps up the podcast with new markets tax credit news about a sign-on letter urging Congress to extend the NMTC and informs listeners of the CDFI Fund’s attempt to evaluate Hurricane Sandy’s effects on CDFIs and CDEs.

Published by Michael Novogradac on November 13, 2012

Michael J. Novogradac, CPA, discusses the latest tax credit news. In general news, he discusses the election results and potential changes to congressional committees as well as recent comments from lawmakers about the fiscal cliff. In low-income housing tax credit news, he alerts listeners to the Internal Revenue Service’s waiver of income requirements for families displaced by Hurricane Sandy and a comment deadline for Form 8611, as well as MaineHousing’s new smoke-free policy. In historic tax credit news, he touches on the way states are assessing Hurricane Sandy’s damage to historic properties. In new markets tax credit news, he discusses a proposal for a Gulf Opportunity Zone-like tax credit for Hurricane Sandy affected areas and alerts listeners to the availability of Novogradac and Company’s recording of its NMTC Conference in New Orleans last month. Finally, his renewable energy tax credit segment features renewable energy organizations’ response to the election.

Published by Michael Novogradac on November 6, 2012

Michael J. Novogradac, CPA, discusses the latest tax credit news in the Nov. 6, 2012 Tax Credit Tuesday podcast. In general news, he recaps the seats up for grabs in Congress and across the nation, and alerts listeners to the potential for GO Zone-like legislation for Hurricane Sandy-affected areas, an extension of New York’s brownfield tax credit and Novogradac & Company’s new St. Louis, Mo. office. In new markets tax credit news, he talks about the extension of the qualified equity investment issuance deadline for allocattees affected by Hurricane Sandy and the latest QEI Issuance report. In low-income housing tax credit news, he reminds property owners of a cost of living increase for Social Security recipients that will affect calculation of household income. In historic tax credit news, he informs listeners about a conversation during which an IRS official said that the Historic Boardwalk Hall decision was not intended to challenge historic tax credits and alerts listeners to an upcoming Advisory Council on Historic Preservation meeting. In renewable energy tax credit news, he wraps up with the state of tax credit equity market and a report on state support of renewable energy projects.

Published by Michael Novogradac on October 30, 2012

Michael J. Novogradac, CPA, discusses the latest tax credit news in the Oct. 30, 2012 Tax Credit Tuesday podcast. In general tax credit news, he discusses a new pamphlet about jobs and taxes from President Obama’s re-election campaign and a call to strengthen bank’s capital standards. In new markets tax credit news, he reminds listeners of the recent QEI deadline for CDEs that applied in the 2012 allocation round and discusses an eligibility and transition FAQ document that the CDFI Fund has released. In low-income housing tax credit news, he follows up on how changes in rural population could affect property income limits. Additionally, he covers a report on housing and transportation costs for moderate-income households and a new community planning and development income eligibility calculator from the U.S. Department of Housing and Urban Development. In historic tax credit news, he provides listeners with an update on the Historic Boardwalk Hall case and increasing support for Rhode Island’s state HTC. Finally, in renewable energy tax credit news, he discusses the Obama campaign’s call to extend the Section 48C advanced energy manufacturing credit, an investor push to extend the expiring wind energy production tax credit and record-level turbine installations.

Published by Michael Novogradac on October 23, 2012

Michael J. Novogradac, CPA, discusses the latest tax credit industry news for the week of Oct. 23, 2012. In general tax credit news, he informs listeners about a Joint Committee on Taxation experiment that explored eliminating tax expenditures, updated listeners about the results of his Lame Duck Congress poll and reveals his own thoughts on the likely outcome. In low-income housing tax credit news, he alerts listeners to the Internal Revenue Service’s distribution of unused 2012 LIHTC allocation and its announcement of inflation-adjusted 2013 volume caps as well as a change to rural populations that could affect LIHTC properties and a new industry group that aims to keep municipal bonds tax exempt. In historic tax credit news, he reports on a pledge from Rhode Island State Rep. Jeremiah O’Grady to push for an extension of the state’s HTC program and a request for a rehearing of the Historic Boardwalk Hall case. In renewable energy tax credit news, he alerts listeners to an opportunity to provide comment on a production tax credit-related notice and shares the American Wind Energy Association’s opinion on the candidates’ mentions of wind energy in the second presidential debate. Finally, in new markets tax credit news, he discusses Sen. Tom Coburn’s Wastebook 2012 and Maine congressional candidate Kevin Raye’s support of the Maine NMTC program.

Published by Michael Novogradac on October 16, 2012

Tax Extenders; Form 8586; Residual Receipts; Historic Preservation Certification Application; Solar Programmatic Environmental Impact Statement; Q3 2012 Global Clean Energy Investment; Applicable Qualified Equity Investment Issuance Threshold; New Markets Tax Credit Conference.

Published by Michael Novogradac on October 9, 2012

Michael J. Novogradac, CPA, discusses the addition of two new members to the so-called “Gang of Six.” In low-income housing tax credit news, he updates listeners on the House tax extenders bill and the 9 percent floor extension, discusses a report from the Corporation for Supportive Housing and alerts listeners to a U.S. Department of Housing and Urban Development request for comments on smoke-free policies. In historic tax credit news, he highlights a new website from the National Park Service and a report from the North Carolina Solar Center on solar panels on historic properties. In renewable energy news, he covers a recent voter survey that shows support for solar energy and reveals the most energy efficient states. Finally, in new markets tax credit news, he provides information on qualified equity investments and new contact information for the Community Development Financial Institutions Fund.

Published by Michael Novogradac on October 2, 2012

Michael J. Novogradac, CPA, alerts listeners to a continuing resolution for the fiscal year 2013 budget and a new Gang of Six in Washington, D.C. In low-income housing tax credit news, he covers two Government Accountability Office reports, one on the Community Reinvestment Act’s effect on low-income housing tax credit investment and one on collaboration of federal housing assistance programs. Additionally, he addresses an expansion of the Multifamily LowIncome Housing Tax Credit Pilot program and the 2013 Difficult Development Areas. In new markets tax credit news, he discusses final rules for non-real estate investments and the amount of credits requested during the 2012 application round. In historic tax credit news, he announces the winners of the 2012 J. Timothy Anderson Awards for excellence in historic preservation. In renewable energy tax credit news, he discusses an act to extend master limited partnerships to renewable energy projects and a recent Congressional Service Research report on energy tax policy.

Published by Michael Novogradac on September 25, 2012

Michael J. Novogradac, CPA, discusses support for tax extenders legislation and the Financial Accounting Foundation’s Private Company Council in general tax credit news. In low-income housing tax credit news, he discusses Sen. Maria Cantwell’s call to extend the fixed 9 percent floor for the LIHTC, the Internal Revenue Service’s most recent LIHC newsletter and a tax expenditure report from New Mexico. In new markets tax credit news, he alerts listeners to a call from freshman Republican senators to extend the new markets tax credit. In historic tax credit news, he discusses the passage of S. 3245 and the renewal of the EB-5 program, as well as Ohio’s ninth round of state historic tax credits. Finally, in renewable energy news, he alerts listeners to the growing support for the wind production tax credit and two Section 1603-related topics: a revival of the Section 1603 program for biodigesters and changes to the Treasury’s Section 1603 system.

Published by Michael Novogradac on September 18, 2012

Michael J. Novogradac, CPA, discusses the estimated effects of budget sequestration cuts on affordable housing, community development and renewable energy programs and updates listeners on tax extenders legislation and tax reform efforts. In new markets tax credit news, he reminds prior round allocatees about the deadline to meet the minimum QEI issuance requirement and announces an update to the Novogradac NMTC Mapping Tool to reflect 2010 census data. In the historic tax credit segment, he shares news about the National Park Service’s five-year Call to Action plan. Low-income housing tax credit news includes findings from the federal rental alignment pilot’s interim evaluation report that was released this summer by the Rental Policy Working Group. Mr. Novogradac concludes the podcast with renewable energy tax credit news about Sen. Patrick Leahy’s support for PTC extension as well as some recent renewable energy industry trends.

Published by Michael Novogradac on September 11, 2012

Michael J. Novogradac, CPA, discusses the upcoming report on the implementation of budget sequestration cuts and invites listeners to take the Novogradac Journal of Tax Credits Reader Survey in general tax credit news. In new markets tax credit news, he summarizes the most recent QEI issuance report, reminds prior round allocatees about meeting minimum QEI issuance requirements and notes the postponement of the CDFI Fund’s Advisory Board meeting. The historic tax credit news segment includes a reminder about next week’s Historic Boardwalk Hall webinar. In low-income housing tax credit news, he shares positive news about a record number of investors joining the Affordable Housing Investors Council and extends an invitation to Affordable Housing Conference participants to attend an LIHTC Working Group meeting. Mr. Novogradac concludes the podcast with renewable energy tax credit news about conservative opposition to the wind energy production tax credit.

Published by Michael Novogradac on September 4, 2012

Michael J. Novogradac, CPA, discusses the Family and Business Tax Cut Certainty Act, a recent article about tax reform and the Sequestration Transparency Act of 2012 in general tax credit news. In new markets tax credit news, he reminds listeners about the approaching 2012 application deadline and alerts community development corporations in Hurricane Isaacaffected areas about a potential deadline extension. The historic tax credit news segment features a reminder about this week’s National Historic Tax Credit Conference and the upcoming Historic Boardwalk Hall webinar as well as a request for comment from the National Park Service historic preservation certification application and the revival of the Missouri’s tax credit review commission. Low-income housing tax credit news includes a California bond issuing agency review and a Treasury Inspector General for Tax Administration municipal bond review. Mr. Novogradac wraps up the podcast with renewable energy tax credit news and a Section 1603 program audit of Moraine Wind II in Minnesota.

Published by Michael Novogradac on August 28, 2012

Michael J. Novogradac, CPA, discusses the fiscal cliff and the implementation of the Volcker Rule in general news. In low-income housing tax credit news, he reveals the results of a report on maintaining unit affordability after Year 15. In new markets tax credit news, he alerts listeners to the approaching 2012 application deadline, an upcoming Community Development Financial Institutions Fund Advisory Board meeting and the Office of the Comptroller of the Currency’s latest newsletter. In renewable energy tax credit news, Mr. Novogradac discusses a new report on energy jobs and a Department of Energy hydropower workshop. Finally, he wraps up with historic tax credit news and the latest in the Historic Boardwalk Hall case.

Published by Michael Novogradac on August 21, 2012

Michael J. Novogradac, CPA, discusses a request for input about an alternative to the Volcker Rule. In low-income housing tax credit news, he informs readers about a recent Internal Revenue Service Private Letter Ruling on tax-exempt bonds, alerts listeners to Novogradac & Company’s new LIHTC Mapping Tool and clarifies some aspects of the Texas Fair Housing Case. In new markets tax credit news, he tells listeners about new application guidance from the Community Development Financial Institutions Fund. In renewable energy news, he reveals the results of two reports, one on the U.S. wind energy market and one on solar market trends.

Published by Michael Novogradac on August 14, 2012

Michael J. Novogradac, CPA, discusses the fiscal cliff and the sequestration transparency act as well as the latest Basel III updates. In low-income housing tax credit news, he talks about the Internal Revenue Service’s utility allowance, proposed U.S. Department of Housing and Urban Development proposed 2013 fair market rents, the Affordable Housing for Moderate-Income Seniors Act and the latest developments in the Texas fair housing case. In new markets tax credit news, he alerts readers to a new Office of the Inspector General of the Treasury’s audit of the American Recovery and Reinvestment Act new markets tax credit allocations, new community development entities and the approaching 2012 allocation round deadline. In renewable energy tax credit news, he discusses the Office of Inspector General’s latest Section 1603 project audits. Mr. Novogradac wraps up with some disappointing historic tax credit news about the Massachusetts historic tax credit program.

Published by Michael Novogradac on August 7, 2012

Michael J. Novogradac, CPA, updates listeners on tax extenders legislation, federal budget discussions and the Journal of Tax Credits Developments of Distinction Awards. In low-income housing tax credit news, he discusses a 9 percent floor extension passed by the Senate Finance Committee, the U.S. Department of Housing and Urban Development 2013 Fair Market Rents and the 2011 National Volume Cap Report from the Council of Development Finance Agencies. In new markets tax credit news, Mr. Novogradac discusses a new markets tax credit extension passed by the Senate Finance Committee and a support letter from two Republican Congressmen as well as the latest Qualified Equity Investment issuance report. In renewable energy tax credit news, he alerts readers to wind production tax credit and investment tax credit extensions and a 2013 renewable energy proposal from the New England Governors’ Conference. Mr. Novogradac wraps up the podcast with historic tax credit news about an extension of the Massachusetts state historic tax credit.

Published by Michael Novogradac on July 31, 2012

Michael J. Novogradac, CPA, updates listeners on several Congressional hearings related to tax reform, new legislation, tax-exempt entities and the U.S. Department of Housing and Urban Development’s rental housing assistance program. In renewable energy news, he covers the American Advanced Energy Manufacturing Jobs Act (H.R. 6182) and a recent National Renewable Energy Laboratory study. The new markets tax credit discussion features an update on the 2012 application and CDE certification, as well as an opportunity to access Novogradac’s 2012 NMTC application webinar. In low-income housing tax credit news, Mr. Novogradac alerts readers to program recommendations from the National Housing Trust and an impending California redevelopment agency dissolution-related deadline. In historic tax credit news, he informs readers of a recent legislative victory in Ohio, a Q&A on Native American Traditional Cultural Landscapes and an upcoming Advisory Council on Historic Preservation meeting.

Published by Michael Novogradac on July 24, 2012

Michael J. Novogradac, CPA, brings listeners the latest news on tax credit reform, small business tax legislation and the Bush tax cut extensions. In historic tax credit news, he discusses two recent IRS private letter rulings and the Rehabilitation of Public Schools Act. In renewable energy tax credit news, Mr. Novogradac reveals the results of a report on the Section 1603 cash grant program and the solar investment tax credit. In new markets tax credit news, he reminds listeners of upcoming deadlines for the 2012 application round, summarizes the CDFI Fund’s latest qualified equity investment issuance report and alerts listeners to a request for comments on the community development entity certification application. Finally, Mr. Novogradac wraps up with a report from the Center on Budget and Policy Priorities about a potential renters’ tax credit program.

Published by Michael Novogradac on July 17, 2012

Michael J. Novogradac, CPA, updates listeners on the latest in tax reform and small business jobs bills as well as tax extenders legislation and the capital gains tax. In new markets tax credit news, he announces the credit’s 2012 allocation round and President Obama’s proposal to make the NMTC friendlier to small business investment. In the historic tax credit section, Mr. Novogradac discusses the 2012 Rutgers University and Historic Tax Credit Coalition Report on the HTC’s economic impact. In the low-income housing tax credit section, he shares the preliminary results of an LIHTC tenant study. In the renewable energy tax credit section, he wraps up with industry efforts to extend the investment tax credit and production tax credit.

Published by Michael Novogradac on July 10, 2012

Michael J. Novogradac, CPA, updates listeners on the Ways and Means Committee’s hearing on the Affordable Care Act, Senate Bill 2237 and a the status of a couple of Treasury Department nominees, and informs listeners about a new Bond Dealers of America tax reform task force. In historic tax credit news, he alerts listeners to a correction related to the National Park Service’s proposed fee change and Pennsylvania’s new historic tax credit. Low-income housing tax credit news features several U.S. Department of Housing and Urban Development budget updates as well as news about the Colorado wildfires and the new Louisiana Housing Corporation. He wraps up with information about the 2012 new markets tax credit funding round, Ohio’s award of state new markets tax credits and a Louisiana tax expenditure study.

Published by Michael Novogradac on July 3, 2012

Michael J. Novogradac, CPA, updates listeners on the fiscal challenges facing the federal government and on tax reform and extenders hearings. In renewable energy news, he informs readers about a production tax credit support letter and new guidance on qualified energy conservation bonds. In historic tax credit news, he alerts readers to the impending release of Rutgers University’s annual report on the historic tax credit and the recent award of state historic tax credits in Ohio. In low-income housing tax credit news, he shares the plaintiff’s response to the Texas Department of Housing and Community Affairs remediation plan in its Fair Housing Act case and reveals the results of a study on the economic impact of affordable housing development in New York. Finally, in new markets tax credit news, he updates listeners on the potential release of the NMTC notice of allocation availability.

 

Published by Michael Novogradac on June 26, 2012

Michael J. Novogradac, CPA, updates listeners about the updated Domenici-Rivlin tax plan, the Small Business Jobs and Tax Relief Act (S. 2237) and the new “Robin Hood Tax.” In historic tax credit news, he discusses the Historic Boardwalk Hall case, a National Park Service Proposal to increase fees for HTC application reviews and proposed changes to the HTC’s in Iowa and New York. In low-income housing tax credit news, Mr. Novogradac informs listeners about a Government Accountability Office report on the Section 1602 tax credit exchange and tax credit assistance programs, a recent report on the country’s rent burdens and California Tax Credit Allocation Committee guidance about sustainable building methods. In new markets tax credit news, he alerts listeners to the 2012 New Markets Tax Credit Handbook and a North Carolina new markets tax credit program. Finally, he wraps up in renewable energy with a production tax credit support letter from Sprint and Microsoft, the Office of the Inspector General of the Treasury’s work with the Section 1603 cash grant program, a House Commerce Committee criticism of the Section 1603 program and a proposed rule from the Federal Housing Finance Agency in regards to properties that receive financing through property assessed clean energy programs.

Published by Michael Novogradac on June 19, 2012

Michael J. Novogradac, CPA, alerts listeners to a Senate Finance Committee hearing on the fiscal crisis and a discussion of the U.S. Department of Housing and Urban Development’s 2013 budget. In new markets tax credit news, he discusses a comment request from CDFI Fund about its Allocation Tracking System and Maine’s state NMTC program. In low-income housing tax credit news, he discusses the Federal Housing Finance Agency’s new LIHTC-related financing goals, the latest State of the Nation’s Housing report and a HUD proposal to cap public housing authorities’ executives’ salaries. The historic tax credit discussion summarizes a new bill introduced to enhance the credit and the upcoming CAPP Act lobby days. He wraps up with renewable energy and Senator Mark Udall’s plan to open each Senate session with a discussion of the production tax credit, as well as an update on a recent Senate hearing on tax reform and energy policy

Published by Michael Novogradac on June 12, 2012

Michael J. Novogradac, CPA, relays Senator Max Baucus’s tax reform proposal and Representative Pat Tiberi’s tax extenders hearing. In the new markets tax credit section, he discusses the NMTC Coalition’s 2012 progress report and the CDFI Fund’s monthly Qualified Equity Investment Issuance Report update. Additionally, he alerts listeners to the Novogradac & Company’s new qualified low-income community investment summaries. In the low-income housing tax credit section, he discusses the annual report from the Advisory Committee on TaxExempt and Government Entities, two memos from the California Tax Credit Allocation Committee and North Dakota’s Housing Incentive Fund. Mr. Novogradac then discusses historic tax credit news, including Representative Earl Blumenauer’s call for the modernization of the historic tax credit, a report from the National Governors Association and the Massachusetts Tax Credit Transparency Report. Finally, he wraps up with a bill introduced that would enable renewable energy investors to form master limited partnerships, the Sierra Club’s “Wind Works” campaign and an upcoming Senate Finance Committee hearing.

Published by Michael Novogradac on June 5, 2012

Michael J. Novogradac, CPA, alerts listeners to a Bipartisan Policy Council event that will include a discussion of comprehensive tax reform and a congressional staff briefing on the new markets tax credit by the Congressional Real Estate Caucus. He also discusses Alabama’s new market tax credit program. In low-income housing tax credit news, he discusses comments that the National Council of State Housing Agencies submitted to the IRS on compliance matters and NCSHA’s 2012 housing conference. He wraps up with a recent IRS advice memo related to the California redevelopment agencies’ dissolution and previously issued bonds. In historic tax credit news, he covers reports on state-level programs in Massachusetts and Rhode Island. Finally, he informs readers about a draft of renewable energy guidance from the Department of Energy, comments that Sens. Grassley and Bingaman made last week regarding the production tax credit and Iowa’s Solar Investment Tax Credit.

Published by Michael Novogradac on May 29, 2012

Michael J. Novogradac, CPA, updates listeners about tax extenders hearings and upcoming Congressional hearings and discusses the Municipal Bond Market Support Act of 2012. In the new markets tax credit section, he reports on potential program regulatory changes and a recent report on access to supermarkets in America. He also highlights a bill intended to increase low-income housing tax credits available to areas affected by Hurricane Irene and Tropical Storm Lee and discusses the U.S. Department of Housing and Urban Development’s Unique Building Identifier File and informs listeners about a recent document issued by the Internal Revenue Service that addresses the responsibilities of conduit issuers of tax-exempt bonds. He wraps up low-income housing tax credit news with the latest development in the Texas Department of Housing and Community Affairs’ Fair Housing Act case. Finally, he summarizes President Obama’s recent visit to Iowa in support of extending the wind energy production tax credit and the 48C advanced energy manufacturing tax credit.

Published by Michael Novogradac on May 22, 2012

Michael J. Novogradac, CPA, discusses statements made last week by lawmakers regarding the debt ceiling, tax extenders and tax reform. Then he updates listeners on the timing of the next new markets tax credit allocation application round and reviews the provisions of a bill that would make low-population census tracts eligible for the NMTC. Next, he discusses a briefing to educate Capitol Hill staff on the benefits of the low-income housing tax credit. He also reviews proposed changes to the Section 8 program and congratulates this year’s Charles L. Edson Tax Credit Excellence Award winners. In the renewable energy segment, he describes a bill that would disqualify solar panels manufactured in China from the 30 percent investment tax credit, shares Energy Secretary Steven Chu’s remarks calling for an extension of the production tax credit, and provides an important reminder about the timing of applications for renewable energy projects that plan to seek Section 1603 cash Grants. Finally, he updates listeners on the Missouri state historic tax credit.

Published by Novogradac & Company LLP on May 15, 2012

Michael J. Novogradac, CPA, discusses two exciting Novogradac & Company additions. He shares recent developments on the prospects for passage of federal tax legislation before the November elections. He then reviews several Congressional hearings, including last week’s hearing on federal support for financial institutions and the Volcker Rule, Treasury official confirmation hearings and a hearing planned for this week about tax-exempt entities in the context of tax reform. In the new markets tax credit discussion, he shares two updates related to the new eligible census tract data released for the new markets tax credit program and an item of interest regarding Oregon’s newly enacted state new markets tax credit. In the low-income housing tax credit section, he discusses the status of fiscal year 2013 Section 8 project-based funding and a funding opportunity announced recently by the Federal Home Loan Bank of San Francisco. Finally, in the renewable energy segment, he discusses President Obama’s recent call for Congress to extend the production tax credit.

Published by Michael Novogradac on May 8, 2012

Michael J. Novogradac, CPA, discusses a hearing that will be held this week on federal support for financial institutions and a policy forum held last week on the topic of tax reform. Then he discusses the much-anticipated release of updated eligible census tract data for the new markets tax credit program and describes the transition period provided by the CDFI Fund for new markets professionals to adjust to the new data. Next, he examines the long-awaited final low-income housing tax credit qualified contract regulations, shares analysis of the newlydesignated 2013 qualified census tracts and briefly discuss low-income housing tax credit property disposition guidance released by the IRS. In the historic tax credit discussion he shares statistics about conservation easement cases currently on the U.S. Tax Court’s docket and previews the Advisory Council on Historic Preservation’s next quarterly meeting. Finally, in the renewable energy segment, he discusses the provisions of the IMPACT Act, which would extend a number of important renewable energy tax incentives.

Published by Novogradac & Company LLP on May 1, 2012

Michael J. Novogradac, CPA, discusses last week’s congressional hearing on tax extenders, as well as additional remarks made in advance of the hearing by a bipartisan group of lawmakers calling for an extension of the production tax credit. In the low-income housing tax credit segment, he discusses highlights from the National Council of State Housing Agencies’ 2012 Legislative Conference. The he shares an announcement from the Historic Tax Credit Coalition, which recently released a new mapping tool that can be of great use to supporters of the historic preservation tax credit. Finally, he discusses the findings of a report released last week about the use of the new markets tax credit in metro and non-metro areas and provides a state level update from Nebraska.

Published by Michael Novogradac on April 24, 2012

Michael J. Novogradac, CPA, discusses an important update on the implementation of the Volcker Rule and a key congressional hearing that will address tax extenders. In the lowincome housing tax credit section he discusses HUD’s announcement that it has designated new qualified census tracts or QCTs for 2013 and reviews the findings of a GAO report about the housing choice voucher program. In the renewable energy segment, he discusses an oversight committee hearing that examined tax incentives for renewable energy. Then he shares some positive comments made by Senator Carl Levin in support of the PTC. In the historic tax credit discussion, he provides update on the proposed Pennsylvania state historic tax credit. And finally, in the new markets tax credit discussion, he shares state level updates from Florida and Missouri.

Published by Michael Novogradac on April 17, 2012

Michael J. Novogradac, CPA, updates listeners about recent and upcoming Congressional debates and votes, discusses bonus depreciation legislation introduced in the Senate and provides a heads up about a hearing on tax reform planned for next week. He then discusses favorable guidance from the IRS regarding power purchase agreements, the Section 1603 cash grant program, interesting points from the GOP’s budget proposal and highlights from a recent global energy investment report. The low-income housing tax credit section includes information about a letter circulated last week by Sens. Cantwell and Snowe that seeks support for S. 1989, the California Tax Credit Allocation Committee’s geographic apportionments and a follow up about post-RDA guidance issued by the California Department of Finance. In new markets tax credit news, listeners can hear about state NMTC legislation introduced in Ohio.

Published by Michael Novogradac on April 10, 2012

Michael J. Novogradac, CPA, discusses the news that the United States now has the highest corporate tax rate in the developed world. Then, he discusses a new rule to determine which nonbank financial companies will be considered systematically important financial institutions (SIFIs). He also discusses the Volcker Rule. Next, he provides a quick status update on the Year 11 discussion that began on March 27, then reviews new guidance from California’s Department of Finance about the dissolution of RDAs. In the historic tax credit discussion, he discusses state level updates from Pennsylvania and Illinois. Then, he discusses comment letters submitted to the CDFI Fund about the NMTC program, the most recent QEI Issuance Report, and good news from Florida, where lawmakers raised the program caps for the state new markets tax credit. Finally, he reviews the findings of a report that found that the Section 1603 renewable energy cash grant program supported an average of 52,000 to 75,000 jobs per year, and shares a preview of the upcoming Financing Renewable Energy conference.

Published by Michael Novogradac on April 3, 2012

Michael J. Novogradac, CPA, discusses a report released last week about community development tax expenditures. He also shares updates on two items from last week: the House vote on the Republican’s proposed budget and the Ways and Means Committee’s vote on H.R. 9. Then, he reviews a hearing that considered the effect of expirations of renewable energy tax incentives and examines a report issued by the House Committee on Oversight and Government Reform that was very critical of the Department of Energy’s oversight of the Section 1705 loan guarantee program. Next, he discusses how states housing tax credit caps will be affected by the IRS’s release of updated population estimates, and a rule change that aimed at increasing the private development community’s involvement in projects that receive funding from both the LIHTC and Section 202 or 811 programs. Then, he provides a quick update on the Historic Boardwalk Hall case, and two state level updates from Massachusetts and Minnesota. Finally, he discusses the updated allocation agreement template and invites suggestions for topics to be discussed at Novogradac & Company’s upcoming Spring New Markets Tax Credit Conference.

Published by Michael Novogradac on March 27, 2012

Michael J. Novogradac, CPA, discusses the House Republicans’ proposed fiscal year 2013 budget, an upcoming hearing on tax extenders and a possible delay in the implementation of the Volcker Rule. Then, he discusses CDFI Fund guidance about serving targeted populations and examines the most recent QEI Report. Next, he previews a hearing about the effect of pending expirations of tax incentives on the renewable energy industry, and discusses recent questions raised about the jobs created by the Section 1603 cash grant program. In the low-income housing tax credit section of this week’s podcast, he reviews the topics covered in the most recent issue of the IRS’s LIHC Newsletter. He also discusses a recent court case in Texas that could have significant implications for the low-income housing tax credit community in that state, and possibly beyond. He also shares an announcement from the USDA about its Section 538 program, and a comment invitation from HUD regarding private-public partnerships used for mixed-finance development of public housing units. Finally, in the historic tax credit discussion, he shares a state-level update on legislation recently passed in Virginia.

Published by Michael Novogradac on March 20, 2012

Michael J. Novogradac, CPA, discusses a recent colloquy on the Senate floor that has direct implications for the future of tax extenders in the context of tax reform. He also shares an update on the federal budget process. Then, he discusses the status of the new markets tax credit extension and last week’s votes on energy tax extenders. He also discusses new guidance released by the IRS on Section 1603 cash grants, and state news from Florida. Next, he shares the apartment industry’s legislative priorities for the year and examines a bill introduced in Congress that is related to the redevelopment agency saga in California. Finally, he shares some findings from the most recent Out of Reach report published by the National Low Income Housing Coalition.

Published by Michael Novogradac on March 13, 2012

Michael J. Novogradac, CPA, reviews two hearings on tax reform and alerts listeners to the opportunity to request guidance from the Internal Revenue Service. Then, he shares an announcement about an upcoming conference focused on the Community Reinvestment Act, and important information for affordable housing property owners in Kentucky related to the recent tornadoes. Next, he shares good news from New Jersey, where a proposed state historic tax credit was passed out of committee last week. He also discusses more than $49 million in historic preservation grants awarded by Interior Secretary Ken Salazar. In the renewable energy segment, he discusses the status of an amendment that will be voted on in the Senate this week to extend the production tax credit and Section 1603 cash grant program. Finally, he shares a related update about an amendment to extend the new markets tax credit. He also discusses the CDFI Fund’s plans to update program eligibility criteria based on new Census data.

 

Published by Michael Novogradac on March 6, 2012

Michael J. Novogradac, CPA, reviews two hearings on tax reform and alerts listeners to the opportunity to request guidance from the Internal Revenue Service. Then, he shares an announcement about an upcoming conference focused on the Community Reinvestment Act, and important information for affordable housing property owners in Kentucky related to the recent tornadoes. Next, he shares good news from New Jersey, where a proposed state historic tax credit was passed out of committee last week. He also discusses more than $49 million in historic preservation grants awarded by Interior Secretary Ken Salazar. In the renewable energy segment, he discusses the status of an amendment that will be voted on in the Senate this week to extend the production tax credit and Section 1603 cash grant program. Finally, he shares a related update about an amendment to extend the new markets tax credit. He also discusses the CDFI Fund’s plans to update program eligibility criteria based on new Census data.

Published by Michael Novogradac on February 28, 2012

Michael J. Novogradac, CPA, discusses the president’s tax reform proposal and this week’s congressional calendar. Then, he shares highlights of the ninth round of new markets tax credit allocation awards. In the low-income housing tax credit section, he reviews FHFA’s plan for Fannie Mae and Freddie Mac and discusses legislation introduced in California to provide a permanent funding source for affordable housing. Next, he discusses a report about the measurement of the economic impact of historic preservation; a report that suggests that a Pennsylvania state historic tax credit would be an economic boon; and the war over tax credits in Missouri. Finally, he discusses the ongoing efforts to extend the renewable energy production tax credit.

Published by Michael Novogradac on February 21, 2012

Michael J. Novogradac, CPA, discusses the agreement reached on a long-term extension of the payroll tax holiday, Volcker Rule comment letters and a deadline reminder for listeners who do business in Puerto Rico. Then, talks about the ongoing efforts to extend the production tax credit, reviews an audit of the Section 1705 loan guarantee program and shares a scheduling update for listeners in Oregon. Next, he reviews the HUD and low-income housing tax credit section provisions of the proposed budget for fiscal year 2013, invites listeners to nominate properties for the 18th Annual Charles L. Edson Tax Credit Excellence Awards, and reviews the findings of two reports that examine the economic effect of the LIHTC in Georgia and New Hampshire. He also reviews the findings of a report about historic tax credit recapture rates and discusses state historic tax credit legislation in Minnesota, Rhode Island and Alabama. Finally, he reviews the latest new markets tax credit QEI issuance report.

Published by Michael Novogradac on February 14, 2012

Michael J. Novogradac, CPA, discusses summarizes key provisions in President Barack Obama’s proposed budget for fiscal year 2013. He also shares an update on the congressional conference committee negotiating an extension of the payroll tax holiday; reviews last week’s hearing on the interaction of tax policy and financial accounting rules; shares details of two new low-income housing tax credit pilot programs; discusses the how California’s tax credit allocating agency is dealing with the elimination of redevelopment agencies, and where there has been renewed interest in of tax-exempt housing bonds. Next, he discusses support for an extension of the renewable energy production tax credit; the provisions of the Creating American Prosperity through Preservation Act; and an amendment introduced in the Senate last week that would extend the new markets tax credit for one year through 2012, Congressman Richard Neal’s recent comments in support of the New Markets Tax Credit Program, and a video released by Enterprise about the new markets tax credit’s positive impact.

Published by Novogradac & Company LLP on February 7, 2012

Michael J. Novogradac, CPA, discusses the status of tax extenders and the Obama Administration’s plan to propose a budget next week for fiscal year 2013. He also reminds listeners about the upcoming deadline to submit comments on the Volcker Rule. Then, he summarizes Fannie Mae’s and Freddie Mac’s multifamily business in 2011 and shares remarks made by Treasury Secretary Tim Geithner about the Administration’s plan to wind down the GSEs. Next, he discusses a bill that would eliminate all energy specific tax credits and alerts listeners to the impending release of an audit on the Section 1705 loan guarantee program. Then, he discusses the latest developments in the Historic Boardwalk Hall case and state historic tax credits in Indiana and Nebraska. Finally, he discusses the comment letter submitted by New Markets Tax Credit Working Group in response to the CDFI Fund’s invitation for suggestions on how to make the new markets tax credit program more efficient.

Published by Michael Novogradac on January 31, 2012

Michael J. Novogradac, CPA, reviews last week’s State of the Union Address. He also discusses the IRS’s updated Priority Guidance Plan and a Senate Finance Committee hearing on tax extenders and tax reform. Then, he examines proposals to change the tax treatment of carried interest and reviews a bill in Indiana that would change how property taxes are assessed for low-income housing tax credit properties. Next, he shares the findings of the American Wind Energy Association’s fourth quarter market report. Then, he discusses the next meeting of the Advisory Council on Historic Preservation and news from Missouri, where lawmakers have again begun to debate state tax credits. Finally, he considers legislation in Hawaii intended to make the state more attractive for new markets tax credit investing.

Published by Michael Novogradac on January 24, 2012

Michael J. Novogradac, CPA, reviews the joint committee hearing on the Volcker Rule and touches on two points of interest in the report released by the president’s Council on Jobs and Competitiveness. He also previews President Obama’s State of the Union address. Then, he discusses the state new markets tax credit proposed in Indiana. Next, he reviews the provisions of a bill that increase low-income housing tax credit caps in areas affected by Hurricane Irene or Tropical Storm Lee. He also discusses provisions of interest to the affordable housing community in New York Governor Andrew Cuomo’s proposed budget for 2012-2013, and shares an update on affordable housing California as redevelopment agencies begin winding down operations. Then, he discusses the Real Estate Roundtable’s amicus brief in the Historic Boardwalk Hall case. And finally he shares the findings of a report that found that the Department of Defense could generate 7,000 megawatts of solar energy on four of its military bases located in the California desert.

Published by Michael Novogradac on January 17, 2012

Michael J. Novogradac, CPA, congratulates the winners of the Developments of Distinction Awards. Then he alerts listeners to a hearing on the Volcker Rule. He also discusses historic tax credits in Kansas and Indiana; shares an announcement from Colorado about open positions on the tax credit allocation committee; reviews Sen. Udall’s comments about an extension for the production tax credit; summarizes an issue brief about government investments in renewable energy; and reviews numbers of interest to the new markets tax credit community.

Published by Michael Novogradac on January 10, 2012

Michael J. Novogradac, CPA, takes a look at the 20-member congressional conference committee that is expected to start formal meetings next week to hash out legislation to extend the payroll tax holiday and other provisions. Then, he reviews the Rental Policy Working Group’s recommendations regarding federal policy for affordable rental housing. Next, he reminds listeners of an upcoming deadline to submit comments about the NMTC, reviews the latest QEI Issuance Report, and discusses the proposed California state NMTC. Then he discusses the merger between two solar industry organizations and reviews a request for comments regarding right-of-way leases for renewable energy development on public lands and describes a new tool from NREL. Finally, he discusses efforts in Kentucky to remove the cap from the state historic tax credit.

Published by Michael Novogradac on January 3, 2012

Michael J. Novogradac, CPA, provides a preview of the first month of the second session of the 112th Congress and a reminder about an extended opportunity to comment on the Volcker Rule. Then he reviews the latest issue of the IRS’s LIHC Newsletter, discusses increases in state private activity bond volume caps, and the IRS’s tax-exempt bond work plan for 2012. He also examines what a recent ruling about redevelopment agencies means for affordable housing development in California. Then, he discusses the seventh round of state historic tax credit awards in Ohio. Finally, he reviews a report about uncertainty over the production tax credit’s extension and discusses the latest update from the Oklahoma Task Force for the Study of State Tax Credits and Economic Incentives.

Published by Michael Novogradac on December 27, 2011

Michael J. Novogradac, CPA, discusses where things stand in Congress; the comment period on proposed changes to how difficult development areas or DDAs are designated; NCSHA’s recent call for more rural housing funding; housing affordability for seasonal workers; an update on the Historic Boardwalk Hall case; a revised programmatic agreement between the Bureau of Land Management, the Advisory Council on Historic Preservation and the National Conference of State Historic Preservation Officers; and testimony presented earlier this month about the new markets tax credit program’s use on tribal land.

Published by Michael Novogradac on December 20, 2011

Michael J. Novogradac, CPA, discusses the status of tax extenders negotiations in Congress. Then he reviews legislation to make permanent the 9 percent tax credit percentage floor for the low-income housing tax credit, the National Council of State Housing Agencies’ updated LIHTC and Underwriting Recommended Practices, and an update on the status of HUD’s Rental Policy Working Group. Then, he discusses a letter urging House leaders to extend the New Markets Tax Credit program. He also summarizes remarks made by Congressman Richard Neal on the House floor in support of the new markets tax credit. Next, he shares an update on the Historic Boardwalk Hall case, and refers listeners to an interesting blog post about two baseball stadiums differing experiences with the historic preservation process. Finally, he discusses Treasury’s most recent Section 1603 guidance, a study on the impact of the production tax credit on the U.S. wind market, a Senate Finance Subcommittee hearing on renewable energy tax incentives, and a policy change at the Department of Defense that is expected to make it easier to develop renewable energy projects with the military.

Published by Michael Novogradac on December 13, 2011

Michael J. Novogradac, CPA, discusses the status of tax extenders legislation in Congress; the latest QEI issuance report and highlights of recent remarks made by CDFI Fund Director Donna Gambrell; new resources available for the tax credit community to support the historic tax credit program and the recently approved “Native American Traditional Cultural Landscapes Action Plan”; two letters sent to Congressional leaders urging the extension of renewable energy tax incentives; a proposed rule to reform federal surface leasing regulations for American Indian lands; efforts in the state of New York to secure additional tax credit authority for areas recovering from Hurricane Irene and Tropical Storm Lee; and legislation introduced to fund Project Rebuild.

 

Published by Michael Novogradac on December 6, 2011

Michael J. Novogradac, CPA, discusses Congress’s agenda for the remainder of the year; IRS guidance about state tax credits; a task force in Oklahoma charged with evaluating state tax credits programs; final NMTC targeted populations rules; the IRS conservation easement audit technique guide; an op-ed piece in support of expanding the historic tax credit; efforts to extend the Section 1603 cash grant program and the production tax credit; and the 2012 LIHTC income limits.

Published by Michael Novogradac on November 29, 2011

Michael J. Novogradac, CPA, discusses the collapse of the Super Committee and what lies ahead for Congress; the extension of Treasury’s New Issue Bond Program and the Temporary Credit and Liquidity Program; the FY 2012 income limits; an update on redevelopment agencies in California; the Historic Boardwalk Hall case; a report on the Minnesota Historic Rehabilitation Tax Credit; an awarding winning initiative in Vermont; an OIG audit of the CDFI Fund; the new InvestOhio Tax Credit; a bill to provide an investment tax credit for microturbines; and the tax treatment of Section 1603 grants in California.

Published by Michael Novogradac on November 22, 2011

Michael J. Novogradac, CPA, discusses the failure of the Super Committee and building momentum for tax extenders. He shares news about the New Markets Tax Credit Extension Act as well as discusses a report that evaluates new markets tax credits’ effect on inner cities. In historic tax credit news, he highlights the job creation benefits being provided by the Minnesota Historic Rehabilitation Tax Credit. In renewable energy news, he describes a letter that the Governors’ Wind Energy Coalition sent to Congressional leaders urging the extension of the PTC as well as the provisions of the STORAGE Act, which would provide a tax credit for investment in energy storage property. In low-income housing tax credit news, he discusses the distribution of 2011 national pool tax credits, some major provisions of the 2012 HUD appropriations bill and a notice that clarifies the conditions under which not-for-profit owners can retain the proceeds from the sale of FHA-insured or HUD-held, formerly FHAinsured multifamily properties.

Published by Michael Novogradac on November 15, 2011

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.

Published by Michael Novogradac on November 8, 2011

Michael J. Novogradac, CPA, discusses the list of banks that were designated as systematically important; the Super Committee; tax reform; and federal appropriations. Then he discusses a number of new renewable energy tax credit bills that were introduced last week; a comment invitation seeking input on the new markets tax credit program; new NMTC compliance monitoring guidance and the latest QEI issuance report. Next, he discusses guidance complied to assist the preservation community in addressing Section 106 requirements during disaster response efforts and an op-ed in support of the Rehabilitation of Historic Schools Act. Finally, he discusses the Financial Service Committee hearing about the HOME program, and proposed changes to the HOME program regulations.

Published by Michael Novogradac on November 1, 2011

Michael J. Novogradac, CPA, discusses Rep. Dave Camp’s draft tax reform; the Super Committee’s progress; the status of federal appropriations; the launch of the Bipartisan Housing Commission; the brief filed by the IRS in its appeal of the Historic Boardwalk Hall case; the next meeting of the Advisory Council on Historic Preservation; the provisions of the Community Wind Act; key points of two new private letter rulings; the findings of project level audits of Section 1603 cash grants; an update on Oklahoma’s state tax credit task force; the 2012 difficult development areas; the IRS’s audits of multifamily housing bonds; $20 million in additional state low-income housing tax credits in Massachusetts; new NMTC project data; and the CDFI Fund’s new deputy director, Dennis Nolan.

Published by Michael Novogradac on October 25, 2011

Michael J. Novogradac, CPA, shares an update on the Super Committee; discusses a report that compares the New Markets Tax Credit program to a comparable cash grant program; updates listeners on the status of New Markets Tax Credit Extension legislation; shares encouraging words of support for the historic tax credit from Congressman Brian Higgins; discusses the ongoing debate over the state historic and low-income housing tax credits in Missouri; reviews a bill that would extend the investment tax credit to offshore wind power projects; discusses two reports about the domestic renewable energy industry; examines the inflation-adjusted low-income housing tax credit and tax-exempt bond caps for 2012; reviews a sign-on letter being circulated by the affordable housing community; mentions a White House affordable housing event; and discusses HUD’s future research plans.

Published by Michael Novogradac on October 18, 2011

Michael J. Novogradac, CPA, discusses an update on the Super Committee’s progress; summarizes legislation introduced to amend historic tax credit rules to allow local governments rehabilitate aging public schools; discusses a report about how to implement solar PV projects on historic buildings; reviews the findings of a report that found that a one-year extension of the Section 1603 cash grant exchange program would support more than 37,000 jobs in 2012. Then he shares some comments made last week by government leaders regarding the need for additional political support for renewable energy; summarizes briefly the possible effects of tax reform on the low-income housing tax credit; discusses disaster relief provided to certain low-income housing tax credit properties in Pennsylvania; and shares a synopsis of what tax reform could mean for new markets tax credit yields and previews one of the special events planned for this week’s New Markets Tax Credit Investors Conference.

Published by Michael Novogradac on October 11, 2011

Michael J. Novogradac, CPA, discusses a confidential, leaked draft of the Volcker Rule and what it means for the low-income housing tax credit, new markets tax credit, historic tax credit and renewable energy tax credit communities. Then he shares an update on the economic substance doctrine. Next, he reviews IRS guidance regarding the federal income tax treatment of the receipt of excessive payments under Section 1603. He also discusses a Congressional Research Services report that warns Congress not to let tax incentives for wind production expire. Then, he discusses legislation that would exempt formerly homeless youth who attend school full-time from the low-income housing tax credit’s student rule. Next, he reviews the new markets tax credit QEI Issuance Report and gives one last reminder about this week’s QEI issuance deadline. Finally, he provides updates about state historic tax credits in Missouri and Indiana.