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 March 31, 2020

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA outlines provisions of the recently passed Coronavirus Aid, Relief and Economic Security, or CARES, Act. Then, he discusses how the COVID-19 pandemic could affect future HUD income limits. He wraps up with news from USDA Rural Development on changes to single-family and multifamily housing related to the COVID-19 pandemic.

Published by Michael Novogradac on March 24, 2020

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA outlines several COVID-19 relief legislation packages including the recently enacted Families First Coronavirus Response Act (H.R. 6201). He also discusses several proposed bills, including the Coronavirus Aid, Relief and Economic Security Act, or CARES Act (S. 3548), a draft bill from House Speaker Nancy Pelosi and the Financial Protections and Assistance for America’s Consumers, States, Businesses and Vulnerable Populations Act (H.R. 6321) that was introduced by House Financial Services Committee Chairwoman Maxine Waters. Then, he discusses the extension of the tax filing and payment deadlines from the IRS, and investment expansion authorizations from the FHFA and the Federal Reserve. Next he discusses how certain lending activities related to COVID-19 would receive positive Community Reinvestment Act consideration. He also talks about announcements from HUD and the FHFA that would suspend evictions and foreclosures for certain housing and provide mortgage forbearance for multifamily property owners. Next, he discusses a few state-level responses to the COVID-19 pandemic. He wraps up with news on the CDFI Fund notice of guarantee availability for the fiscal year 2020 CDFI Bond Guarantee Program.

Published by Michael Novogradac on March 17, 2020

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, talks about federal coronavirus relief legislation and how housing and community development could play a role in those initiatives. He also discusses what coronavirus resources and relief may be available for various tax credit communities. He closes out with an update from the Federal Housing Financing Agency on its evaluation of Fannie Mae and Freddie Mac’s duty to serve requirements, as well as an update on the Affordable Housing Credit Improvement Act (H.R. 3077) and the Revitalizing Economies, Housing and Businesses Act (H.R. 6175).

Published by Michael Novogradac on March 10, 2020

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, talks about low-income housing tax credit and private activity bond allocation limits in 2020. Then, he shares an update on cosponsors for the Affordable Housing Credit Improvement Act, and discusses an energy extenders amendment to the American Energy Innovation Act introduced by Senate Finance Committee Ranking Member Ron Wyden. Next, he talks about a recommendation from the California Tax Credit Allocation Committee that all developers applying for 4 percent low-income housing tax credits apply now for tax-exempt bonds. He then discusses a California Assembly Bill that would create a state-level new markets tax credit incentive. He closes with an update about the enactment of a Wisconsin state-level opportunity zones bill that doubles the capital gains exclusion for Wisconsin qualified opportunity funds. 

Published by Michael Novogradac on March 3, 2020

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the fiscal year 2019 Capital Magnet Fund Awards and how to prepare for the fiscal year 2020 round. Then, he talks about the notice of funding availability for the CDFI program and the Native American CDFI Assistance program. He wraps up with news on updated guidance from HUD on how to layer subsidies for project-based voucher properties.

Published by Michael Novogradac on February 25, 2020

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA talks about when he expects HUD’s 2020 income limits to be released and what can be expected from the updated figures. Next, he shares news of the comment period extension for proposed CRA regulations, and discusses the enactment of a state LIHTC program in Maine. Finally, he discusses legislation in Connecticut that would expand the state’s workforce housing program to include opportunity zones, and he shares an update on Wisconsin opportunity zones legislation that is waiting to be signed by the Gov. Tony Evers.

Published by Michael Novogradac on February 18, 2020

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA discusses more details on the Trump administration’s fiscal year 2021 budget request and how the request could affect affordable housing and community development. Next, he talks about mention of the low-income housing tax credit during a Senate Finance Committee hearing on the president’s budget request. Then, he shares an announcement on HUD’s capital fund program and a letter from Senate Finance Committee Chairman Chuck Grassley on renewable energy tax credit incentives. He closes with state-level opportunity zones legislation that was introduced in Utah and Illinois.

Published by Michael Novogradac on February 11, 2020

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac CPA, talks about key points from the Trump Administration’s budget proposal. Specifically, he talks about what the budget proposes for affordable and public housing funding. Next, he talks about President Trump’s mention of opportunity zones in the State of the Union address. He then discusses a public housing hearing held by the House Financial Services subcommittee on Housing, Community Development and Insurance. He also shares an update on the Puerto Rico emergency supplemental appropriations bill that was passed by the House of Representatives, and he shares an update on final versions of Form 8996 and 8997 that were released by the IRS. Then, he talks about a report released by Rep. Earl Blumenauer and six of his colleagues that calls for an increase in affordable housing funding. Finally, he discusses legislation that was introduced in Kentucky and Maryland to create state LIHTC programs, and a ruling in Alabama to take into account extended use agreements when valuing LIHTC properties.

Published by Michael Novogradac on February 4, 2020

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac CPA, discusses an infrastructure plan that was released by House Ways and Means Democrats called Moving Forward. Next, he discusses an emergency supplemental appropriations bill that would provide additional appropriations to Puerto Rico to help rebuild after recent earthquakes. He then shares an update on CRA reform and discusses key details from a hearing held by the House Financial Services Committee on proposed CRA regulations released by the OCC and FDIC. He also talks about guidance released by the IRS that clarifies how to determine income limits in the average income test for low-income housing tax credit properties. Then, he shares some highlights from the Novogradac 2020 New Markets Tax Credits Conference, and finally, talks about draft opportunity zone regulations that were released by the Puerto Rico Department of Economic Development and Commerce.

Published by Novogradac on January 28, 2020

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac CPA, talks about plans to move forward with federal infrastructure proposals. He also talks about Sen. Tim Scott, S.C., exploring the idea of introducing legislation that would allow governors to reconsider some of their opportunity zones designations. Then he talks about a recent development in CRA reform and what to expect from the OCC and FDIC in the coming weeks. Next, he talks about state level news including a ruling from a state trial court in New York about low-income housing tax credit partnerships, and legislation from Hawaii that would make the state’s low-income housing tax credit program permanent. He also discusses a private letter ruling from Colorado on partnerships pursuing the state low-income housing tax credit. Finally, he shares news of legislation introduced in Hawaii that would ensure the 35 percent renewable energy credit regardless of any future amendments to state law.

Published by Michael Novogradac on January 21, 2020

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses updates for the recently released draft Forms 8996 and 8997 and their instructions. Next he talks about the INVEST Act, a bill that would set aside 10 percent of the new markets tax credit allocation for Indian and native lands. He then shares insight into the latest QEI report for new markets tax credit investments, and talks about the introduced Fulfilling the Promise of the Housing Trust Fund Act. He also talks about the web-based mapping tool that was announced by the U.S. Economic Development Administration. Finally, he discusses state-level news regarding opportunity zones, historic tax credits, low-income housing tax credits and renewable energy. 

Published by Michael Novogradac on January 14, 2020

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares the latest update on the Novogradac Opportunity Funds listing. Then, he discusses tax incentive legislation in the House and Senate and co-sponsors for each bill. Next, he shares highlights from the Novogradac 2020 RAD Public Housing Conference last week in Ft. Lauderdale, Fla. He also discusses proposed Community Reinvestment Act regulations released by the OCC and FDIC. He then discusses HUD’s proposed update for the Affirmatively Furthering Fair Housing rule as well as HUD’s homeless assessment report that was released last week. Finally, he shares an update on the Energy Sector Innovation Act of 2019 that was introduced by Rep. Tom Reed, and an update from the Department of Transportation on the interactive opportunity zones map it released.

Published by Michael Novogradac on January 7, 2020

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares information on final regulations for opportunity zones that were released by the Treasury Department at the end of 2019, and what those regulations mean for opportunity fund investments. Next, he talks about tax extenders that were passed at the end of 2019, including the extension or increase of several tax incentives. Then he discusses a proposal released by HUD to expand the information it collects for project-based vouchers. Finally, he shares that the California Debt Limit Allocation Committee voted to allocate a majority of the state’s private activity bonds to multifamily affordable rental housing.

Published by Michael Novogradac on December 17, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares breaking news on government funding bills that were introduced in the House that include extensions of the new markets tax credit, wind production tax credit and a disaster allocation of California low-income housing tax credits. Next, he discusses proposed Community Reinvestment Act regulations that were introduced last week. Then he talks about a HUD notice announcing fiscal year 2020 annual adjustment factors for the Section 8 housing assistance payments program and the Eviction Crisis Act. Finally, he talks about a memo that was released by California TCAC clarifying requirements for the use of a low-income unit for a property manager in a low-income housing development.

Published by Michael Novogradac on December 10, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about what to expect from opportunity zones guidance submitted by the Treasury Department to the Office of Information and Regulatory Affairs. Then, he discusses the opportunity zones reporting bill, or the IMPACT Act, that was introduced last week. Next, he provides an update on the Novogradac Opportunity Funds Listing, and recaps some important highlights of the Novogradac 2019 Tax Credit Housing Finance Conference. He also discusses potential year-end tax deals to expect as the government approaches another funding deadline, and talks about final regulations for BEAT that were released by the IRS last week. In other news, he talks about the Renewable Energy Investment Act of 2019 that was introduced in the House, and shares that the U.S. Department of Education will be giving priority to grant applications that propose to serve opportunity zones. Finally, he talks about the application for the Multifamily Coal Trust Homes Program in Montana.

Published by Michael Novogradac on December 3, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares an update on year-end tax legislation and federal appropriations as well as updates on CRA reform. He then discusses the expected shortage of private activity bonds for several states, specifically California. Next, he provides details on affordable housing plans released by Sen. Elizabeth Warren and Mayor Pete Buttigieg. Finally he talks about a bill that was introduced in South Carolina that would create a low-income housing tax credit for properties in opportunity zones. 

Published by Michael Novogradac on November 26, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, provides an update on legislation that was introduced to repeal the opportunity zones incentive. Next, he shares insight into democratic presidential candidate affordable housing plans as well as a bill that was introduced that would bar jurisdictions form using a high-housing cost adjustment to calculate area median income. Then, he discusses income and rent limits for 2020 and 2021, and the operating cost adjustment factors for 2020. He closes with a roundup of news on the Community Reinvestment Act, opportunity zones, public housing and Wisconsin’s low-income housing tax credit allocation plan.

Published by Michael Novogradac on November 19, 2019

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.

Published by Michael Novogradac on November 12, 2019

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.

Published by Michael Novogradac on November 5, 2019

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.