Novogradac & Company Llp

Michael J. Novogradac, CPA, reviews the status of tax patent legislation as well a new bill introduced last week to extend the Section 1602 exchange program and improve the new markets tax credit. Then he discusses a suggestion from the GAO to convert the new markets tax credit to a grant program. Next, he shares welcome news from the National Park Service, which last week began posting copies of historic tax credit certification review appeals on its web site. In low-income housing tax credit matters, he examines legislation to capitalize the National Housing Trust Fund; a comment request from HUD regarding it's methodology for calculating fair market rents; and legislation in Hawaii that would set an automatic repeal date for more than two dozen tax credit programs, including the state's LIHTC and RETC programs. And finally, he reviews two updates on the renewable energy industry ' one from ACORE and the other from the Solar Energy Industries Association.