Michael J. Novogradac, CPA, shares update on the status of federal funding negotiations in Congress; reviews details of the much-anticipated eighth round of new markets tax credit allocations; discusses state historic tax creditdevelopments in Michigan, New Jersey and Minnesota; examines a recent article about tax reform that erroneously asserts that the burden of eliminating the LIHTC would fall most heavily on the finance and insurance industries; andshares some good news for the renewable energy community in New Jersey, where the state department of revenue recently confirmed that Section 1603 grants are not taxable for state purposes.