Novogradac & Company Llp

Michael J. Novogradac, CPA, discusses the latest status of tax extenders legislation and other developments from the current, ongoing lame duck session of Congress. Then he discusses a bipartisan letter support for an extension of the Section 1603 renewable energy cash grant program in Congress, and describes a regulation change at the Department of the Interior that is expected to facilitate development of new energy projects on the Atlantic Outer Continental Shelf. In the low-income housing tax credit discussion, he shares an announcement from HUD regarding $16 million that is available for reallocation under the Tax Credit Assistance Program. He also discusses recent IRS guidance regarding bond issuance that has raised some doubts about the use of the draw down structure for affordable housing financing. In new markets tax credits news, he reviews the latest QEI issuance report from the CDFI Fund and shares news about the Capital Magnet Fund.