Novogradac & Company Llp

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