Novogradac & Company Llp

Today is Tuesday, July 7th, 2009. This week we will discuss House Financial Services Committee Chairman Barney Frank's proposal to use TARP dividends to fund the Affordable Housing Trust Fund. We will also share a letter submitted by the Affordable Housing Tax Credit Coalition to Chairman Frank and Senate Banking Committee Chairman Chris Dodd regarding a rumored secondary market LIHTC transaction by Freddie Mac. And finally, we will consider the recent announcement that MuniMae will sell its LIHTC unit.

Today is Tuesday, June 30th, 2009. This week we will discuss a legislative effort to clarify that GO Zone and disaster tax credits are eligible for the Section 1602 exchange program of the Recovery Act. We will also review some of the highlights of last week's Financial Services Committee hearing on affordable housing preservation.

Today is Tuesday, June 23rd, 2009. This week we have news about the low-income housing tax credit programs created by the Recovery Act. We will also review last week's congressional committee hearing about the new markets tax credit program.

Today is Tuesday, June 16th, 2009. I am in Los Angeles today, speaking at the National Council of State Housing Agencies (or NCSHA's) annual low-income housing tax credit conference. I am also speaking at the Affordable Housing Investors Council or AHIC meeting, as AHIC members are meeting before the public sessions of the NCSHA meeting. Representatives from the Department of Housing and Urban Development and the Internal Revenue Service are here and will be speaking on a couple of the public NCSHA panels, one of which I am also participating in. Next week, on the Tax Credit Tuesday podcast, I will share with you any breaking news from HUD or the IRS that comes out of the NCSHA conference regarding the TCAP or Credit Exchange program. This week we will share some highlights from our 8th Annual New Markets Tax Credit Spring Conference that was held in Washington D.C. last week.

Today is Tuesday, June 9th, 2009. This week we have news about a recent report released by the GAO that examines minority entities' participation in the new markets tax credit program. We also have several updates about the Treasury Department's LIHTC exchange program and HUD's Tax Credit Assistance Program, or TCAP. But first, I would like to mention a quick update related to last week's discussion about tax patents and I'd like to share breaking news from the U.S. Senate regarding the use of TCAP or Tax Credit Assistance Program funds.

Today is Tuesday, June 2nd, 2009. This week we will review the new markets tax credit awards that were announced last week as part of the American Recovery and Reinvestment Act of 2009. We will also examine a legislative proposal to prohibit tax patents. And finally, we will discuss an invitation to comment about using FHA-insured multifamily mortgages with low-income housing tax credits and tax-exempt bonds. Let's' get started with a look at last week's new markets tax credit allocation announcement.

Today is Tuesday, May 26th, 2009. This week we will examine two proposals that would change carry back rules ' one for net operating losses and another for low-income housing tax credits. We also have an update to share regarding the renewable energy grant program created by the Recovery Act of 2009. Let's get started with a look at the Net Operating Loss Carryback Act.

Today is Tuesday, May 19th, 2009. This week we will share highlights from the LIHTC conference we held last week in New Orleans. We will also discuss the details of the Green Book, which is a description of the Obama administration's proposals to raise taxes to help offset spending increases and reduce the deficit. But first, we have news about the seventh round of new markets tax credit allocation applications.

Today is Tuesday, May 12th, 2009. This week we will discuss the Department of Housing and Urban Development's recent announcement about its Neighborhood Stabilization Program. Then we will share some good news from the IRS about utility allowances for low-income housing tax credit properties. We will also examine the recently-approved state new markets tax credit in Florida. But first, we have an update on the Tax Credit Assistance Program, or TCAP, and the tax credit exchange program created by the Recovery Act of 2009.

Today is Tuesday, May 5th, 2009. This week we will discuss a letter from the Treasury Department regarding the lowincome housing tax credit exchange program that was created by the Recovery Act of 2009. We will also review a report from the Joint Committee on Taxation about tax expenditures for renewable energy conservation and production. And finally, we'll bring you up to speed on the latest new markets tax credit compliance guidance from by the CDFI Fund.

Today is Tuesday, April 28th, 2009. This week we will examine a proposal to create a national entity called the Green Bank, which would provide financial support for qualified clean energy projects and qualified energy efficiency projects. We will also review the status of legislative efforts in a number of states to create or amend state historic tax credit programs. And finally, we have another update in our ongoing coverage of the implementation of the LIHTC provisions of the Recovery Act of 2009.

This week we will focus on what we know about the federal guidance being developed for the implementation of the low-income housing tax credit provisions of the Recovery Act of 2009.

Today is Tuesday, April 14th, 2009. First up this week we have recently released guidance from the IRS about two types of tax credit bonds for renewable energy. Next up, we explain legislation that was recently reintroduced in the House of Representatives that would tax all income generated from "carried interests" as ordinary income as opposed to how current tax law allows some of this income to be taxed as capital gains. We will also continue our ongoing coverage of LIHTC allocating agencies as they implement the Recovery Act of 2009. Let's begin today's discussion with a summary of the latest guidance released for qualified energy conservation bonds and new clean renewable energy bonds.

Today is Tuesday, April 7th, 2009. This week we will preview the Financing Renewable Energy Conference that we will host in San Francisco on April 30th and May 1st. Then, we will discuss some of the highlights of CDFI Fund Director Donna Gambrell's most recent Director's Message. And finally, we have more updates on state housing tax credit allocating agencies plans for implementing the Tax Credit Assistance Program (or TCAP) and the low-income housing tax credit Cash Grant Exchange Program. Both programs were created by the Recovery Act of 2009.

Today is Tuesday, March 31st, 2009. This week we will review the submission requirements for CDEs to apply for allocations of new markets tax credit in the 2009 allocation application round. We also have a couple updates on state housing tax credit allocating agencies plans for implementing the Tax Credit Assistance Program and Exchange Program created by the Recovery Act of 2009.

Today is Tuesday, March 24th, 2009.' This week we have several exciting developments to discuss. First, we will share the Treasury Department's plans to allocate the $3 billion in additional new markets tax credit' authority provided by the American Recovery and Reinvestment Act of 2009, or the Recovery Act. We will also outline the changes in the 2009 income limit data released by the U.S. Department of Housing and Urban Development. And finally, we will update listeners on the California housing tax credit allocating agency's plans for the LIHTC provisions of the Recovery Act.

Today is Tuesday, March 17th, 2009. This week we will review how tax credit allocating agencies throughout the country are approaching their plans to implement the lowincome housing tax credit cash exchange option, commonly referred to as the credit exchange option, and their plans to disperse their share of Tax Credit Assistance Program, or TCAP, dollars.

Today is Tuesday, March 10th, 2009. This week we will discuss some of the highlights of President Obama's proposed federal budget for 2010. But first, we have some news from the Community Development Financial Institutions Fund, or CDFI Fund.

Today is Tuesday, March 3rd, 2009. This week we will talk about two of the renewable energy provisions of the American Recovery and Reinvestment Act of 2009, or ARRA for short, and also known as the Recovery Act. We also have some updates regarding the implementation of the LIHTC provisions of the Recovery Act.

Today is Tuesday, February 24th, 2009. This week we will talk about some of the responses from the housing, energy and community development industry to the American Recovery and Reinvestment Act, commonly referred to as ARRA or the Recovery Act.