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.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, gives an update for Federal appropriations too avoid a government shutdown and OCC plans to release an advanced notice of proposed rulemaking on CRA before the end of the year. Next, he covers several infrastructure plans including Peter DeFazio’s infrastructure bill, the Housing is Infrastructure Act of 2019, as well as presidential candidate Joe Biden’s infrastructure plan. Then he discusses the Opportunity Zone Reform Act that was introduced in the House, and the Opportunity Zones Diversity Bill that was introduced last week. He also talks about the Immigrant Investor Program Reform Act and the Incubator Act of 2019, both of which encourage investment in opportunity zones. Next, he talks about plans for House Democrats to introduce legislation to extend expire and expiring renewable energy incentives. He also gives an update on the conservatorship of Fannie Mae and Freddie Mac. Finally, he discusses a Notes from Novogradac blog post on the rate of cost-burdened households in older-age groups.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about opportunity zones reporting legislation that was introduced in the House and Senate last week. Next, he discusses an investigation into the legitimacy of an opportunity zone designation in Nevada, and shares highlights from the 2019 Novogradac Financing Renewable Energy Tax Credits Fall Conference. Then, he discusses presidential candidate Pete Buttigieg’s affordable housing plan that was released last week, and then talks about Apple’s affordable housing commitment. He also talks about 2020 state low-income housing tax credit and private activity bond caps for 2020 released by the IRS. He then talks about a blog post discussing the annual private activity bond cap report and a blog post describing estimates of median income changes projected over the next two years. Finally, he discusses a new frequently asked questions document published by HUD on the Rental Assistance Demonstration, and a letter advocating extension of expired clean energy tax incentives.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the HUD appropriations bill for 2020 that was passed by the Senate as well as a more general status of 2020 appropriations legislation. He also discusses Fannie Mae and Freddie Mac’s duty-to-serve requirements and how they exceeded their 2018 requirements. Next, he discusses the 2019 low-income housing tax credit national pool, then he shares insight into the IRS draft Form 8996 that was recently released for qualified opportunity funds. Then, he talks about the Housing for Homeless Students Act of 2019 and the California Debt Limit Allocation Committee’s recommendation to make the February 2020 round for tax-exempt bonds competitive. Finally, he discusses an extension of the North Carolina state historic tax credit.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses highlights from the Novogradac 2019 Opportunity Zones Fall Conference, and shares an update on the Novogradac Opportunity Funds Listing. Then, he talks about comment letters that the Novogradac OZ Working Group sent to the Federal Reserve and the OCC. Next, he shares some insight on recently announced 2020 DDAs and QCTs, and discusses a recent report on HUD’s Rental Assistance Demonstration. He then talks about the Council of Development Finance Agencies report on multifamily and single-family tax-exempt private activity bond issuance for 2018, and companion bills, known as the HOME Act that were introduced in Congress. Next he discusses the FHFA request for public comment on proposed changes to Fannie Mae and Freddie mac, and talks about HUD’s announcement that the Real Estate Assessment Center will not adopt the Accounting Standards Update 2016-18. Then he shares insight into a letter sent to Congress from 231 mayors asking for passage of the Renewable Energy Extension Act, and discusses Oklahoma and Missouri state historic tax credit rulings and updates. Finally, he talks about an opportunity zones initiative launched in Virginia.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the introduction of the Senate version of the Historic Tax Credit Growth and Opportunity Act, or the HTC-GO Act. Then he talks about HUD’s release of difficult development areas and qualified census tracts for 2020, and introduction of Sen. Kamala Harris’ Ending Homelessness Act of 2019. Next he shares highlights from the Novogradac 2019 New Markets Tax Credit Fall Conference, including keynote speakers and informative panels on the extension of the new markets tax credit incentive through 2020. He also shares information on the Home Energy Savings Act (S. 2588) to extend the Section 25C credit and the New Home Energy Efficiency Act (S. 2595) to extend the Section 45L tax credit. Finally, he discusses House Bill 532 for opportunity zones investments in Wisconsin, and shares what to expect at the Novogradac 2019 Opportunity Zones Fall Conference.
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.
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.
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.
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.
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.