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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

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

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 r

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

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, a

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 cr

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.

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."

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 cre

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

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

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 guida

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).

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.

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

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 impor

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.

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.

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 Rehabilitati

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