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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 Qual

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 W

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

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 t

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 sectio

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 re

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 preserv

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. H

'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 talk

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 W

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

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 a

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

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

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

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 l

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 inve

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 secti

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 c

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 w