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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.

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 extend

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.

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.

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.'

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.

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.

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.

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 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.'

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.

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

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 expir

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

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 th

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 st

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.