Novogradac: Recent Episodes
Novogradac & Company LLP
Each Tax Credit Tuesday, Novogradac & Company LLP's audio broadcast offers an in-depth weekly look at tax credit topics. A new episode is posted here and on the RSS Feed by 1 p.m. Pacific Time every Tuesday.
On this episode of Tax Credit Tuesday's "Renewable Energy Tax Credit Finance" series, Michael Novogradac, CPA, and Tony Grappone, CPA, conduct a mid-year check-in on various topics related to renewable energy tax credits (RETCs). Novogradac and Grappone also discuss key RETC issues to pay attention to midyear, including three Generally Accepted Accounting Principles (GAAP) topics, three tax topics and three financial topics. Additionally, they discuss the U.S. District Court's recent restoration of the 5% safe harbor for renewable energy facilities. and the trial order regarding the Alta Wind I Owner Lessor C, et. al. v. United States 'case, a legal battle that dates back to the first term of President Barack Obama.
The 21 st Century Renewing Opportunity in the American Dream (ROAD) to Housing Act, which became law July 11, introduced sweeping changes to various housing programs and provisions. On this week's episode of Tax Credit Tuesday's "Washington Watch" series, Michael Novogradac, CPA, and Novogradac Chief Public Policy Officer Peter Lawrence discuss the act and its implications for low-income housing tax credit (LIHTC) developers and other professionals working in affordable housing. The two review 10 ways the bill impacts various programs and provisions, including the public welfare investment provision, build-to-rent provision, HOME investments partnership program, Rental Assistance Demonstration (RAD) and more. Novogradac and Lawrence also discuss the ways in which the bill might affect opportunity zones (OZs) and the new markets tax credit (NMTC) incentive.
Developers who receive low-income housing tax credits (LIHTCs) must incur at least 10% of the costs that are included in its reasonably expected basis by a specified date determined by federal and, often, state requirements in order to pass what is often called "the 10% test." On this week's episode of Tax Credit Tuesday's "So You Want to Be a LIHTC Developer" series, Michael Novogradac, CPA, and Karie McMillen, CPA, discuss the 10% test and how it came about. Novogradac and McMillen then dive into how the 10% test is calculated as a fraction, reviewing what makes up the denominator and what can potentially go into the numerator. They conclude by addressing some common challenges that developers face when it comes to meeting the 10% test.
There are advantages and disadvantages to developing real estate in any location. When it comes to affordable rental housing, some locations qualify for a 30% basis boost, which translates to the potential for generating 30% more low-income housing tax credit (LIHTC) equity. On this week's episode of the So You Want to Be a LIHTC Developer, Michael Novogradac, CPA, and Thomas Stagg, CPA, discuss three types of locations eligible for a 30% basis boost: qualified census tracts (QCTs), difficult development areas (DDAs) and a basis boost eligible to developments that have received 9% LIHTC allocation. The two conclude by introducing a new resource available through Novogradac, the Qualified Census Tract Estimator tool.
The One Big Beautiful Bill Act (OBBBA), signed into law July 4, 2025, made opportunity zones (OZs) a permanent part of the tax code and created a new round of OZs that will'take effect Jan. 1,'2027.'The U.S. Department of the Treasury and the Internal Revenue Service (IRS)'released a notice June 18 describing transitional guidance'it plans to propose for investments into existing OZs as amended by the OBBBA. On this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac partner Jason Watkins, CPA, review the notice and discuss the proposed transitional regulations. The pair also discuss important questions about how existing investments will be treated and how new investments should be structured, as well as planned next steps for the Novogradac Opportunity Zones Working Group.
On this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac partner Charles Rhuda III, CPA, discuss several challenges that may arise while developing an affordable housing property with multiple buildings financed by private activity bonds (PABs) in combination with 4% low-income housing tax credits (LIHTCs), including when those buildings are placed in service across multiple years. Novogradac and Rhuda highlight several issues that developers, syndicators and investors should be aware of, including satisfying 25% financed-by test requirements and challenges that may come up during the lease-up period. They also discuss potential complications when using recycled PABs and other sources of financing to close the gap.
Tax credit equity pricing is determined by various important supply-and-demand factors. On this episode of Tax Credit Tuesday, Michael Novogradac, CPA, sits down with Novogradac partners and CPAs Tony Grappone, Michael Kressig, Brad Elphick and Dirk Wallace to discuss the factors affecting demand for tax credit equity in 2026 and in the future. The speakers discuss the investor market and pressing issues for low-income housing tax credits (LIHTCs), new markets tax credits (NMTCs), historic tax credits (HTCs) and renewable energy tax credits (RETCs). The five then discuss potential legislative and regulatory changes on the horizon. This episode is the second part of a two-part series, with Part 1 released June 2.
Tax credit equity pricing is determined by a variety of critical supply-and-demand factors. On this record-breaking episode of Tax Credit Tuesday, Michael Novogradac, CPA, sits down with Novogradac partners and CPAs Tony Grappone, Michael Kressig, Brad Elphick and Dirk Wallace to discuss various factors affecting tax credit equity supply in 2026 and beyond. The speakers give an overview of new markets tax credits (NMTCs), historic tax credits (HTCs), low-income housing tax credits (LIHTCs) and renewable energy tax credits (RETCs), as well as provide their estimates of what the market size will be in 2026, 2027 and 2028. The speakers then briefly discuss equity pricing in each tax credit area. This episode is the first part of a two-part series, with part two slated to release next Tuesday.
With policy changes such as the July 4th start-of-construction-deadline instituted by the One Big Beautiful Bill Act (OBBBA) rapidly approaching and foreign entities of concern (FEOC) requirements forthcoming from the U.S. Department of the Treasury, renewable energy tax credit (RETC) developers are at a critical moment. In this episode of the Renewable Energy Tax Credit Finance Series, Michael Novogradac, CPA, and Novogradac partner Tony Grappone, CPA, discuss five additional topics every RETC developer should know in order to attract investors in a post-OBBBA world.'They cover how to document start of construction, prevailing wage and apprenticeship (PWA) requirements, common FEOC misunderstandings, cost segregation studies and appraisals and due diligence. Grappone also brings up a bonus topic on tax insurance. This episode is the second part of a two-part series, with part one having released in April.
The U.S. Department of Housing and Urban Development (HUD) released income limits May 1 for fiscal year (FY) 2026. On this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Thomas Stagg, CPA, discuss the new income limits and how they are used to determine eligibility and calculate rent limits for HUD-assisted programs and low-income housing tax credit (LIHTC) properties. Novogradac and Stagg give an overview of the new income limits and review the factors that determine them. The two then discuss the potential impact that income limits will have on year-over-year income growth, as well as factors that various stakeholders should consider. They close the episode with an overview of various Novogradac resources to understand income limits, including the upcoming Novogradac 2026 HUD Rent and Income Limits and Outlook for 2027 Webinar.
Artificial intelligence (AI) and how it can be used safely and efficiently to increase productivity is a hot topic across many industries, and the affordable rental housing world is no exception to the rule. On this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Brad Weinberg, MAI, CVA, CRE, discuss the use of AI in the affordable housing sector. They first discuss the different types of AI, including chatbots, agentic AI and invisible AI. Novogradac and Weinberg then explain Novogradac's AI strategy and explore how Novogradac clients are integrating AI. They conclude the episode by discussing best practices with AI and share their thoughts about the future of the technology.
Unwinding a new markets tax credit (NMTC) transaction is often complex, requiring thorough knowledge and a careful approach. On this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Nicolo Pinoli, CPA, discuss the exit strategies available to parties of an NMTC investment after the compliance period ends, and the tax issues associated with unwinding. Novogradac and Pinoli discuss the basics of the NMTC and review common NMTC investment structures. The pair then discuss the implications of exit strategies from the perspective of the qualified active low-income community business (QALICB) and the investor, including executing the put-call option, distributing qualified low-income community investment (QLICI) loans and more. The two also highlight the upcoming Novogradac NMTC Exit Strategies Webinar and the Novogradac 2026 Spring Renewable Energy Tax Credits Conference.
Developers in the renewable energy tax credit (RETC) sector are at a pivotal moment, with policy changes such as the July 4th start of construction deadline instituted by the One Big Beautiful Bill Act (OBBBA) rapidly approaching. In this episode of the Renewable Energy Tax Credit Finance Series, Michael Novogradac, CPA, and Novogradac partner Tony Grappone, CPA, discuss five key topics every renewable energy developer should know in order to attract investors in a post-OBBBA world. They discuss start of construction rules, common errors and oversights in developer financial models, the expectations gap between newer RETC developers and the reality of the investor market, the timing of investor capital contributions and co-mingled investment opportunities. This episode is the first part of a two-part series, with part two slated to come out in May.
Legislative changes and policy updates have continued to shape the tax credit world over the course of the first quarter of 2026. On the inaugural episode of Tax Credit Tuesday's new Washington Watch series, Michael Novogradac, CPA, and Novogradac Chief Public Policy Officer Peter Lawrence discuss the latest policy updates in the tax credit world from Capitol Hill. The two discuss recent developments regarding the low-income housing tax credit (LIHTC), the opportunity zones (OZ) incentive, as well as the proposed budget for the U.S. Department of Housing and Urban Development (HUD). Novogradac and Lawrence also discuss a variety of resources Novogradac provides to help navigate these developments, including the Novogradac news pages and the various Novogradac working groups.
When the Community Development Financial Institutions (CDFI) Fund announced the $10 billion calendar year 2024-2025 new markets tax credit (NMTC) awards, it also announced four areas of emphasis for NMTC awards going forward. In this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, discusses those areas with Novogradac partner Gregory Clements, CPA. They look at affordable housing development, small business growth and expansion, domestic manufacturing and reliable job-producing projects, and rural hospitals and essential community health care. They also look at the new anti-discrimination provisions of the NMTC allocation agreement.
The renewable energy tax credit (RETC) market is emerging from "wait and see" mode following major policy updates in 2025, including the approval of the One Big Beautiful Bill Act (OBBBA) on July 4, 2025. In this episode of the Renewable Energy Tax Credit Finance Series, Michael Novogradac, CPA, and Novogradac partner Tony Grappone, CPA, take a forward-looking view of the RETC marketplace as the first quarter of 2026 comes to a close. Novogradac and Grappone discuss the current state of the developer's side of the market, highlighting increased demand for energy across the board fueled by data centers and artificial intelligence (AI). The pair also discuss the recent changes in restrictions regarding foreign entities of concern (FEOC) implemented by the OBBBA. Finally, Novogradac and Grappone turn to the investor's side of the market and discuss the state of transfer buyers, traditional tax equity investors and cash equity investors.
Affordable housing has become a significant focus of President Donald Trump, his administration and the current Congress. Efforts to tackle the affordability crisis and improve housing accessibility for all Americans have ramped up since the beginning of 2026. On this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac Chief Public Policy Officer Peter Lawrence discuss various recent developments in housing policy. The two first review three recent executive orders from Trump and how they might affect the development and preservation of affordable housing, as well as their potential impact on several tax credits. Novogradac and Lawrence also discuss the 21st Century ROAD to Housing Act, a bipartisan bill designed to address the housing shortage in America by expanding federal housing programs and streamlining housing development. The bill was recently passed by the Senate.
First-year qualifying occupancy reports are essential for compliance with the low-income housing tax credit (LIHTC), but the processes can be challenging. On this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac Director of Multifamily Property Compliance Stephanie Naquin review the most common compliance mistakes LIHTC properties make regarding first-year qualifying occupancy reports, and how to avoid them. The pair discuss four categories of common errors: misunderstanding state requirements, tenant income calculation, implementing the Housing Opportunity Through Modernization Act of 2016 (HOTMA) and using the wrong forms or completing them incorrectly. The categories come from a survey conducted recently by Naquin and her team, which was covered in the March issue of the Novogradac Journal of Tax Credits magazine.
When it comes to the low-income housing tax credit (LIHTC) allocation and underwriting, it's critical to have a thorough understanding of the basics. With the Spring 2026 Novogradac LIHTC Allocation and Underwriting Basics Course on the horizon (every Thursday from March 26 to April 30), Michael Novogradac, CPA, and course instructor'Mark Shelburne dive into LIHTC basics. Novogradac and Shelburne discuss the course and the topics it will cover, including eligible basis and boost, applicable fraction and tax credit rate, equity investment and qualified allocation plans on a week-by week basis. The pair also shout out the various instructors that will lead the training alongside Shelburne. The episode concludes with a discussion of Novogradac LIHTC services and the upcoming Novogradac 2026 Affordable Housing Conference, May 7-8 in San Deigo.
The One Big Beautiful Bill Act (OBBBA), approved July 4, 2025, implemented a number of restrictions regarding foreign entities of concern (FEOC). In this episode of the Renewable Energy Tax Credit Finance Series, Novogradac partners Tony Grappone, CPA, and Joshua Morris, CPA, discuss those changes and their implications for various stakeholders in the clean energy space. They discuss the similarities and differences of the new FEOC restrictions to domestic content. Grappone and Morris then give a detailed review of the restrictions and the issues surrounding them, such as safe harbor provisions. The episode concludes with a series of rapid-fire questions developers, manufacturers and investors in the clean energy sector may have.
The One Big Beautiful Bill Act (OBBBA), approved July 4, 2025, made the opportunity zone (OZ) incentive permanent and made several significant changes to the program. One key change is that, effective Jan. 1, 2027, each state will designate new OZs. On this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Jason Watkins, CPA, discuss these changes and how they will impact tax incentives and eligibility criteria for qualified OZ investors. Novogradac and Watkins explain where the program stands and discuss a variety of issues that require guidance or clarification from the U.S. Department of the Treasury, including the designation of new census tracts. The pair also discuss how Treasury will implement the transition from OZ 1.0 to OZ 2.0. Finally, Novogradac and Watkins discuss the various efforts of the Novogradac OZ Working Group to highlight potential issues and offer recommendations for implementation guidance in the form of three letters to Treasury.
The Historic Tax Credit (HTC) is a significant resource for developers hoping to rehabilitate historic properties, but nuances of the incentive, such as eligibility requirements and the closing process, can be intimidating for first-time developers. On this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner John DeJovine, CPA, provide listeners a crash course in HTCs. The pair discuss gating issues developers may encounter in deciding whether to use HTCs. Novogradac and DeJovine also discuss various factors to consider throughout an HTC transaction, including how much equity might come from federal HTCs, subordination and non-disturbance agreements (SNDAs) and what counts as qualified rehabilitation expenditures (QREs). Fittingly, the two close the episode by reviewing the process of closing an HTC deal, from deal structuring to the developer's eventual exit.
The One Big Beautiful Bill Act (OBBBA), approved July 4, 2025, made various significant changes to the low-income housing tax credit (LIHTC) incentive. Among key changes, the OBBBA lowered the threshold for private activity bond (PAB) financing required to qualify for 4% LIHTCs from 50% of a development's land and building costs to 25%. On this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Dirk Wallace, CPA, explore how this change is affecting financing for affordable housing development. Novogradac and Wallace provide an overview of the 25% test and PABs, including recycled PABs. The pair also discuss how states are implementing the 25% financed-by test, as well as the ways developers are overcoming the financing gap the new test created. Finally, Novogradac and Wallace conclude by discussing how to maximize net operating income (NOI) by approaching operating expenses as efficiently as possible.
Rental income and operating expenses for low-income housing tax credit (LIHTC) properties have seen significant increases over recent years. On this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Kelly Gorman review the 2025 Novogradac Low-Income Housing Tax Credit Income and Operating Expenses Report, which provides an in-depth look at 2024 rental income, operating expenses and net operating income for LIHTC properties tracked by Novogradac. Novogradac and Gorman provide their perspective on the relationship between rental income and operating expenses, as well as annual and compound annual growth rates. The two then discuss the two largest operating income expenses, which were property insurance and repairs and maintenance, and how to handle those expenses in the underwriting and budgeting process.
Several major legislative changes rocked the tax credit world, last year. Key developments such as the One Big Beautiful Bill Act (OBBBA) will shape the tax credit landscape in 2026 and beyond. On this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac's Chief Public Policy Officer Peter Lawrence explore the current state of tax credit legislation and what may be on the horizon for 2026. Novogradac and Lawrence discuss various tax incentives, including the historic tax credit, the Neighborhood Homes Investment Act and the HOPE Act. The pair also discuss two "bonus" tax incentives that potentially may be on the horizon, the workforce housing tax credit and the Downtown Revitalization and Main Streets Act. Finally, the two discuss banking-related bills such as the ROAD to Housing Bill and the Housing for the 21st Century Act, which may grant banks the ability to invest more in new construction and preservation developments.
The Community Development Financial Institutions (CDFI) Fund announced the awarding of $10 billion in new markets tax credit (NMTC) allocation authority Dec. 23, 2025, 'for the combined 2024-2025 allocation round, a record-breaking amount of aggregate issuance authority that led to a record-breaking number of awardees. On this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partners Brad Elphick, CPA, and Rebecca Darling, CPA, discuss the key aspects of this round that made it significant and theorize what changes might come to NMTC allocation in the future. The three also discuss the reasons why the CDFI Fund's announcement was delayed, and how that might impact the timeline of the 2026 application round.
Public housing authorities (PHAs) are increasingly finding that common funding opportunities such as U.S. Department of Housing and Urban Development (HUD) financing is not meeting their operational or capital needs. With recent policy changes on the horizon that will further drain PHA resources, many are turning to programs such as Rental Assistance Demonstration (RAD). On this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Rich Larsen, CPA, give a crash course on the RAD program and discuss how PHAs can utilize RAD to support their public housing developments. The pair also discuss how to most effectively utilize tax credit equity, such as low-income housing tax credit (LIHTC) equity, in RAD transactions.
Developers of affordable rental housing using low-income housing tax credits (LIHTCs) want to know what they can include in eligible basis calculations. In the latest installment in the "So You Want to Be a LIHTC Developer" series of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Christina Apostolidis, CPA, discuss three issues around eligible basis. First, they discuss the treatment of community service areas in the calculation for eligible basis. Next, Novogradac and Apostolidis cover enhancements made that are not physically part of the main development site, better known as off-site improvements. Finally, the pair discuss the issues around impact fees.'
The new markets tax credit (NMTC) incentive commonly is used to subsidize community development projects such as small businesses, day care centers, schools and public transportation, but the credit can also serve as a way to incentivize the development of for-sale housing in distressed neighborhoods. In this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac partner Nicolo Pinoli, CPA, discuss how developers and investors can best leverage NMTCs to support initiatives aimed at increasing homeownership among low-income households. Novogradac and Pinoli review what community development entities, investors and the various qualified businesses that are eligible to receive the NMTC subsidy should know about the requirements and process.
The complicated world of renewable energy tax credits (RETCs) can be challenging for even experienced investors to navigate. In this episode of the Renewable Energy Tax Credit Finance Series, Novogradac partners Tony Grappone, CPA, and Tom Boman, CPA, discuss the issues individuals and closely held corporations should be aware of when considering investing in RETC partnerships or buying transferable tax credits. Grappone and Boman discuss at-risk and passive activity rules and how they relate to renewable energy developments. The pair then dive into several hypothetical scenarios for each rule to help listeners better understand how the rules affect investors.
While changes to the low-income housing tax credit (LIHTC) will help address America's affordable housing shortage, there remains a significant gap to help renovate and preserve affordable rental housing'a gap that could be addressed by a proposed tax incentive that would allow nonprofit developers and property managers to raise capital from individual investors to finance those improvements. In this week's podcast, Michael Novogradac, CPA, Novogradac partner Kevin Wilson, CPA, and Peter Lawrence, Novogradac's chief public policy officer, discuss the proposal, including why there's a need, how it would work, where it is in the legislative process and how a new Novogradac working group is addressing the issue.
The Opportunity Zones (OZ) incentive has seen a number of exciting developments in 2025, in large part due to the One Big Beautiful Bill Act (OBBBA), which made the incentive permanent when the legislation was signed into law July 4. In this episode of Tax Credit Tuesday, Michael Novogradac, CPA, sits down with Novogradac partner Jason Watkins, CPA, to discuss the latest policy updates in the OZ incentive and the transition from OZ 1.0 tracts to OZ 2.0 tracts. Novogradac and Watkins discuss issues the Novogradac OZ Working Group has identified as requiring guidance from the Treasury, including dual OZ designations for 2027 and 2028, legacy business eligibility, and compliance with qualified OZ business (QOZB) tests. Finally, the pair discuss the process for designating the next round of OZs, as well as when and how best to begin preparing.
The One Big Beautiful Bill Act (OBBBA), signed into law July 4, expanded restrictions on Foreign Entity of Concern (FEOC) rules established by the Inflation Reduction Act in 2022. In this latest installment of the Renewable Energy Tax Credit Finance Series, Novogradac partners Tony Grappone, CPA, and Nicolo Pinoli, CPA, dive into the evolution of FEOC rules and how they affect a project's eligibility for renewable energy tax credits (RETCs). They then clarify the difference between types of prohibited foreign entities and identify key FEOC compliance issues of which developers and investors should be aware. Finally, they review the timeline of effective dates, as well as the penalties and recapture risks for non-compliance.
The One Big Beautiful Bill Act, approved July 4, introduced sweeping changes to various community development tax credits. In this episode of Tax Credit Tuesday, Michael Novogradac, CPA, sits down with Novogradac partners Brad Elphick, CPA, Tony Grappone, CPA and Dirk Wallace, CPA, to discuss what those changes are and how they are shaping the present and future of the tax credit equity market. The group reviews the various changes to the low-income housing tax credit (LIHTC), the new markets tax credit (NMTC) and the renewable energy tax credit (RETC) and their impact on tax credit supply and equity prices. Then, they discuss the ways in which these policies may impact the market in 2026 and 2027. Finally, the group dives into how developers can increase the equity pricing for their transactions.
Last month, the U.S. Census Bureau released the American Community Survey (ACS) data for 2024. In this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac partner Thomas Stagg, CPA, discuss the significance of the data. Stagg uses ACS data to create robust estimates as to what income and rent limits are likely to be in most areas when the U.S. Department of Housing and Urban Development (HUD) announces them next April. The pair start off by reviewing the various data points that affect the estimates, and Stagg shares his view as to what the 2026 year-over-year increases in rent and income limits will likely be for various areas. Finally, Novogradac and Stagg talk about the upcoming data releases that will help refine his estimates.
Navigating the process of raising tax credit equity can be a challenge even for experienced renewable energy developers, but it is a critical part of ensuring a project's success. In this latest installment of the Renewable Energy Tax Credit Finance Series, Michael Novogradac, CPA, and Novogradac partner Tony Grappone, CPA, walk through the process of raising tax credit equity for renewable energy projects, from making a good first impression on investors and negotiating term sheets to managing the closing process and managing the assets after closing.
With the new markets tax credit (NMTC) made permanent in the One Big Beautiful Bill Act (OBBBA) and a record-breaking $10 billion allocation round nearing, these are heady times in the NMTC world. But administrative actions and the threat of a government shutdown have also led to trepidation. In this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Brad Elphick, CPA, discuss the latest updates regarding the NMTC, the potential impacts of a shutdown and future legislation, as well as the recent successes of the Novogradac NMTC Working Group.
The One Big Beautiful Bill Act (OBBBA), signed into law July 4, lowered the tax-exempt bond financed- by test for low-income housing tax credit (LIHTC) properties from 50% to 25%. In this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac Housing Policy Consultant Mark Shelburne discuss the ways in which state housing agencies are implementing the new test. They discuss how the 25% financed-by test gives states the ability to finance more affordable housing with the same amount of bond cap. The pair then explain how states can begin implementing the new test. States can implement the test on its effective date in one as of Jan. 1, 2026; wait until 2027 and spend 2026 deciding how they will implement it; or lean into the new rule and start taking actions in 2025.
The One Big Beautiful Bill Act (OBBBA), signed into law July 4, lowered the tax-exempt bond financed- test for low-income housing tax credit properties from 50% to 25%, giving states the ability to potentially double the amount of bond-financed tax credit transactions that they can finance with the same amount of bond cap. In this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, Novogradac partner Charlie Rhuda, CPA, and Novogradac principal Julie Lawrence, CPA, discuss Internal Revenue Code Section 42 and Section 142(d) key compliance areas, including minimum set-aside tests, rent limit rules, handling over-income tenants and compliance monitoring. The episode provides valuable insights for developers and investors on navigating the complexities of combining LIHTC with private-activity bonds.
The One Big Beautiful Bill Act (OBBBA), signed into law July 4, made the opportunity zone (OZ) incentive a permanent part of the Internal Revenue Code. In this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Jason Watkins, CPA, review the changes to OZs instituted by the OBBBA. They explore the Opportunity Zones (OZ) 2.0 Mapping Tool, which Novogradac launched Aug. 19. Novogradac and Watkins also discuss the emphasis on investing in rural areas for the next set of OZs, nominations which begin July 1, 2026. Finally, the pair the new reporting requirements for OZs and the upcoming "dead zone" for investments, which is projected by some to occur next year.
Partnerships provide a mutually beneficial legal structure for developers and investors to create and rehabilitate affordable rental housing with low-income housing tax credits (LIHTC). In the second installment of a two-episode set on LIHTC partnerships, Michael Novogradac, CPA, and Novogradac partner Nicolo Pinoli, CPA, discuss the importance of having partnership allocations of tax attributes be respected, as well as the requirements to have allocations of tax attributes be respected. They discuss the set of regulations that create a safe harbor, and what it means when developers and investors do not qualify for the safe harbor. Finally, Novogradac and Pinoli discuss exit taxes and the fact that many affordable housing developments will have notable residual value at the end of Year 15.
The One Big Beautiful Bill Act (OB3) signed into law in July has sweeping implications for the clean energy tax credits sector. In this latest installment of the Renewable Energy Tax Credit Finance Series, Michael Novogradac, CPA, and Novogradac partner Tony Grappone, CPA, dive into OB3 and what it means for the rollback of various tax incentives, project finance implications, foreign entities of concern (FEOC) restrictions and strategic steps for developers and investors to consider in the coming months and years. Tune in for essential planning tips and anticipated guidance from Treasury, all crucial for staying ahead in the renewable energy sector.
President Donald Trump on July 4 approved multi-trillion-dollar reconciliation legislation that enacts sweeping reforms to various tax credits, including the low-income housing tax credit (LIHTC). In this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Dirk Wallace, CPA, review various provisions included in the legislation and discuss how the bill will impact LIHTC developers, syndicators and investors. They begin by talking about the change from the 50% financed-by test to 25%, then explain the 12% increase in the supply of 9% LIHTCs and the return of 100% bonus depreciation. They assess the impact that phasing out the Section 45L credit will have on LIHTC developments. Finally, they discuss additional key legislative items that were not included in the bill.
Developers of affordable housing that qualifies for the historic rehabilitation tax credit (HTC)'as well as historic property developers who are including affordable homes in their property'can use both the HTC and the low-income housing tax credit to finance their property. In this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, and John DeJovine, CPA, discuss the considerations and options for combining those two community development tax incentives. They begin by looking at what types of developers most commonly pair the credits, then talk about what a low-income housing tax credit developer should know before diving into HTC financing. After that, they look at structuring alternatives, other tax issues and crucial factors around calculating basis.
Partnerships provide a mutually beneficial legal structure for developers and investors to create and rehabilitate affordable rental housing with low-income housing tax credits (LIHTC). In the first installment of a two-episode set on LIHTC partnerships, Michael Novogradac, CPA, and Nicolo Pinoli, CPA, discuss some of the details about these legal structures in this week's episode of the Tax Credit Tuesday podcast. Novogradac and Pinoli discuss why developers and investors might choose partnerships over other legal structures, the value of partnerships to deliver economic benefits, how the economic substance doctrine applies to partnerships, how partnership requirements deliver some potential benefits to the investor and the power of partnerships to deliver on public policy goals.
When President Donald Trump signed multi-trillion-dollar reconciliation legislation July 4, it included provisions to expand the low-income housing tax credit (LIHTC), make permanent the opportunity zones (OZ) incentive and new markets tax credit (NMTC) and sharply pare back clean energy tax incentives. On this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, discusses the bill's provisions with Peter Lawrence, Novogradac's chief public policy officer; Jason Watkins, CPA; and Tony Grappone, CPA. They begin by looking at how the legislation was passed in Congress, then dive into the specific provisions for the LIHTC, OZs and NMTCs before taking a deeper dive into how clean energy tax credits were cut back. They then look at some cross-cutting provisions that will affect community development tax credits and what provisions failed to make it into the final reconciliation bill.
One of the most crucial elements of any property financed by clean energy tax incentives is the begin-construction date. That date'which must be proven through one of two tests'sets the standard for the amount of tax credits and their value. It may also determine eligibility for certain incentives. In this week's podcast, guest host Tony Grappone, CPA, and guest Josh Morris, CPA, discuss the begin-construction tests, including why they are important and how to prove you've met at least one of the tests. They also discuss issues that can arise while proving either the physical work test or the 5% test and share what services Novogradac provides to assist clients in meeting these crucial tests.
Technical expertise, experience and mentorship are among the reasons a nonprofit affordable housing developer might form a joint venture with a for-profit developer. In this week's episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Lance Smith, CPA, discuss these advantages, opportunities, risks and challenges faced by nonprofit housing developers when they partner with for-profit developers. Smith and Novogradac discuss access to greater resources and working capital, issues around material participation and tax-exempt use property complexities, among other topics. The episode is a companion to the May 6, 2025, episode, which explored the inverse: When for-profit developers partner with nonprofit developers. Learn more about the relationship between the partners with the Novogradac Nonprofit Housing Developers Handbook released earlier this year.
Proposed changes to federal tax law are in the political discussion as Congress works to advance President Donald Trump's One Big, Beautiful Bill, which includes provisions that touch on low-income housing tax credits (LIHTCs), opportunity zones (OZ) and renewable energy tax credits (RETCs). In this week's episode of the Tax Credit Tuesday podcast, host Michael Novogradac, CPA, and guest Dirk Wallace, CPA, discuss four possible changes to tax law that could increase demand for existing affordable housing and community development tax credits, thereby expanding the pool of investors. Wallace and Novogradac discuss allowing investors to exceed the 75% limit to reduce their tax liability, expanding carryback for up to five years, removing passive-activity limits and allowing the new markets tax credit (NMTC) to offset the alternative minimum tax. Finally, the two discuss an additional potential tax law covering bonus depreciation.
In this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Tony Grappone, CPA, dive into the intricacies of prevailing wage and apprenticeship (PWA) requirements in the context of renewable energy tax credits. They discuss strategies for ensuring compliance, highlight common pitfalls and explain the importance of early engagement in the compliance process. They provide practical tips for developers and investors looking to optimize their tax credit claims while adhering to PWA regulations.
The House of Representatives last week passed budget reconciliation legislation that includes significant tax incentive provisions. In this week's Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Peter Lawrence, Novogradac's chief public policy officer, discuss the bill, including what provisions were included, which were left out (but could be added as the Senate considers the legislation) and the timeline for the landmark bill going forward. They take a deeper dive into provisions concerning opportunity zones (OZ) and the low-income housing tax credit (LIHTC) that were part of the House bill, along with a significant rollback of clean energy incentives. They also discuss the possibility of provisions relating to the new markets tax credit (NMTC) and historic tax credit (HTC) being added to the bill in the Senate.
The opportunity zones (OZ) incentive remains a versatile tool in the workshop of community development, housing production and renewable energy generation. In this week's episode of the Tax Credit Tuesday podcast, host Michael Novogradac, CPA, and guest Brent Parker, CPA, discuss the intersection of the OZ incentive with other tax incentives, including renewable energy tax credits (RETCs) such as the investment tax credit (ITC) and production tax credit (PTC), low-income housing tax credits (LIHTCs), new markets tax credits (NMTCs) and historic tax credits (HTCs). Parker and Novogradac discuss some of the benefits and challenges of combining OZs with these other financial tools, including discussing various types of transaction structures. The two talk about the possibilities for the incentive before the Dec. 31, 2026, expiration to realize capital gains, which may see an extension after its inclusion in the U.S. House of Representatives Ways and Means Committee's reconciliation budget proposal this week.
Michael Novogradac, CPA, and Novogradac partner Lance Smith, CPA, discuss the opportunities, risks, and challenges faced by for-profit housing developers when partnering with not-for-profit affordable housing developers. Learn about the benefits, such as improved chances of being awarded low-income housing tax credits, lower property taxes and access to soft financing. They also discuss the risks including tax-exempt use property and the material participation standard. Dive deep into the intricacies of joint ventures and gain insights from the recently released Novogradac Nonprofit Housing Developers Handbook.'
The past, present and future are all relevant in new markets tax credits (NMTCs) in the spring of 2025, with multiple issues that touch on each of the three time periods among some of the hottest topics in the tax credit community. In this week's episode of the Tax Credit Tuesday podcast, host Michael Novogradac, CPA, is joined by guests Rebecca Darling, CPA, and Brad Elphick, CPA, to discuss five key issues of interest in the community. First, the trio discusses a March 14 executive order by President Donald Trump that stoked concerns as to the future status of the Community Development Financial Institutions Fund (CDFI) Fund, which administers the NMTC. Next, Darling, Elphick and Novogradac discuss the looming expiration date for the NMTC and the status of advocacy efforts to make the NMTC permanent. Third, Darling and Elphick share their thoughts on the ongoing 2024-2025 "double round," a $10 billion allocation round. The fourth topic covers qualified equity investment and qualified low-income community investment data so far in 2025. Finally, the host and guests discuss a recently released frequently asked questions (FAQ) compliance document from the CDFI Fund about NMTCs and what the community needs to know.
The U.S. Department of Housing and Urban Development (HUD) released the annual rent and income limits April 1 for property managers to apply when renting properties financed by low-income housing tax credit (LIHTC) equity as well as HUD programs such as Section 8, Section 202 and Section 811. In this week's episode of the Tax Credit Tuesday podcast, host Michael Novogradac, CPA, and guest Thomas Stagg, CPA, one of Novogradac and the nation's leading experts in rent and income limits, discuss three key takeaways from this year's release. First, Stagg and Novogradac discuss income limits being higher than anticipated. The second key takeaway is why the rent and income limits were higher'a change in HUD's methodology for calculating inflation factor in rent and income limits. Finally, they discuss a number of metropolitan statistical areas (MSAs) that were reorganized or changed in the 2025 limits release, including why a disproportionate number of the changes are in Connecticut.
This Tax Day episode of Tax Credit Tuesday features guest host Tony Grappone, CPA, and guest Reza Karim, CPA. They discuss state and local tax issues vital to renewable energy facilities, including various types of taxes such as property, sales and use taxes. They also delve into tax credit transfers, nexus, apportionment and non-resident withholding, providing practical tips and insights for managing these complex tax landscapes. They highlight the importance of early planning and engagement with local jurisdictions to optimize tax outcomes.
Novogradac's e-learning platform'NovocoTraining'provides webinars and on-demand training for myriad community development tax incentives, with teaching for audiences from beginner to expert. In this week's Tax Credit Tuesday episode, Michael Novogradac, CPA, and Wayne Michael, Novogradac's senior director of external education and e-learning, discuss the options available. They discuss how it works, as well as how Michael uses visuals to teach important concepts. They also talk about who makes up the presenters and the typical audience, special certifications and some new options, including a significant change in how to become an "all-you-can-eat" member.
After 10 weeks of the second Trump administration, funding and staffing changes continue to develop for affordable housing funded by the U.S. Department of Housing and Urban Development (HUD) and for the public housing authorities (PHAs) that oversee much of that spending. On this week's episode of Tax Credit Tuesday, host Michael Novogradac, CPA, discusses HUD-related issues with Peter Lawrence, Novogradac's chief public policy officer, and Rich Larsen, CPA, who leads the company's public housing authority practice. They look at how the federal government's continuing resolution funding package for fiscal year 2025 affected HUD spending, then look at issues in the fiscal year 2026 funding plans. After that, they discuss how the reduction in the HUD workforce and field offices affect PHAs and others, before wrapping up with a look at how cuts to the Green and Resilient Retrofit Program funding are playing out and what we know now that we didn't know on inauguration day.
Compliance requirements come in a variety of shapes and sizes for affordable rental housing property managers using incentives such as the low-income housing tax credit (LIHTC), HOME Investment Partnerships Program, tax-exempt bonds, project-based rental assistance (PBRA) programs, public housing and property tax exemptions. In this week's episode of the Tax Credit Tuesday podcast, host Michael Novogradac, CPA, and guest Stephanie Naquin discuss the three key steps when qualifying tenants to live in affordable housing properties: Screen, verify and certify. Later, Naquin and Novogradac discuss the emerging issues around property tax exemption compliance.
In this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac partner Tony Grappone, CPA, delve into essential strategies for reviewing tax returns for renewable energy partnerships during tax season. They discuss pivotal areas such as comparing tax return drafts to key documents, federal and state tax differences, and proper allocation of losses and income. They highlight key services such as financial projections, cost segregation and appraisals. The episode also covers the importance of investor review, state-return specific issues and ensuring compliance with new tax credit requirements under the Inflation Reduction Act.
Twinning or sidecar financing that pairs the federal historic rehabilitation tax credit (HTC) with other tax incentives can be a crucial strategy to finance the renovation and redevelopment of some the nation's historic buildings. In the latest episode of the Tax Credit Tuesday podcast, host Michael Novogradac, CPA, and guest Michael Kressig, CPA, discuss some of the benefits and hurdles that come with blending federal HTCs with other tax incentives such as the low-income housing tax credit (LIHTC), new markets tax credit (NMTC), opportunity zone (OZ) incentive, renewable energy tax credits (RETC) and state HTCs. Novogradac and Kressig discuss how often each of the various incentives is used in combination with the federal HTC as well as how often Kressig sees transactions with three or more of the subsidies.
Localities'whether cities, townships or counties'are crucial "partners" in low-income housing tax credit (LIHTC) transactions. While not an actual member of the partnership, localities play a major role in the ability to fund affordable housing properties. In this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Mark Shelburne, a housing policy consultant at Novogradac, discuss the roles localities play in LIHTC-financed housing, both for them and for the developers who work with them. They begin by discussing the various ways localities are involved in those transactions, then discuss how they play a role in funding the property, including what to avoid. After that, Novogradac and Shelburne examine nonfinancial ways that localities can help and the role of localities in helping properties meet timelines and deadlines.
Two important financing options when building affordable housing are 4% and 9% low-income housing tax credits (LIHTCs). In the latest episode of the Tax Credit Tuesday podcast, host Michael Novogradac, CPA, and guest Charlie Rhuda, CPA, discuss developers that chose to combine the incentives in a single development, sometimes called "sidecar financing" due to the nature of the financing structure. They provide an overview of the difference between the financing tools and discuss why affordable housing professionals would combine them. Later, Rhuda identifies four types of challenges that can arise for those using the sidecar financing model to develop affordable housing.
Michael Novogradac, CPA, and Tony Grappone, CPA, dive deep into the latest trends in renewable energy tax credit (RETC) financing. In this episode of Tax Credit Tuesday, they discuss the most common structures from 2024, including partnership flips, T flips, and inverted leases and their popularity in the market. They also cover the types of projects funded, like solar and battery storage, investor types (direct vs. syndicated) and pricing trends. They share insights from analyzing over 50 deals worth $12 billion in CapEx and $4.6 billion in tax equity investment. Additional topics include technology-neutral tax credits post-Inflation Reduction Act (IRA), metrics for evaluating investments and future market expectations.
Legislation to modernize and renew the opportunity zones (OZ) incentive in 2025 is essential to its long-term prospects. In this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Jason Watkins, CPA, discuss the path forward for OZs under potential tax law changes. They discuss the political outlook and priorities under a Republican Party that holds the White House, Senate and House. They discuss the push for an extension to the incentive. Later, Novogradac and Watkins discuss modernization and statutory proposals for OZs, including reporting requirements, investment in rural OZs and reinvesting gains in new businesses. Finally, they talk about how the outlook for permanency for the incentive might look.
The 2025 application period for affordable housing properties to receive a 20% "adder" to the 30% investment tax credit (ITC) for solar power opened in January. In this week's Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Dirk Wallace, CPA, discuss the use of solar-generated electricity at affordable housing properties, including how to evaluate whether solar works at your property, how President Donald Trump's executive orders affect the awarding of bonus credit percentage, how to apply for the "adder" and what properties are eligible. They also discuss the demand for the "adders" and how to demonstrate benefits to tenants.
After chatter about budget cuts during the campaign from several members of President Donald Trump's new administration, stakeholders in the affordable housing community watch attentively as developments arise in Washington, D.C. In this episode of Tax Credit Tuesday, Michael Novogradac, CPA; Rich Larsen, CPA; and Peter Lawrence, Novogradac's director of public policy and government relations, look at what may be in store for affordable housing through the prism of the U.S. Department of Housing and Urban Development (HUD). First, the trio discusses what might be ahead under Scott Turner, Trump's nominee for HUD secretary. Next, Lawrence and Larsen explore what some of the potential upsides for HUD might be under the new administration. Later, Larsen details challenges that may be on the horizon and how public housing authorities can act now to navigate possible shortfalls.
With a major federal tax bill anticipated in 2025 and a newly seated Congress, Michael Novogradac, CPA, and Novogradac Director of Public Policy and Government Relations Peter Lawrence look ahead to four new federal tax incentives that could be introduced in 2025. In addition to discussing each of the four proposed incentives'the preservation tax incentive, Neighborhood Homes Tax Credit, Workforce Housing Tax Credit and Office Conversion Tax Credit'Lawrence provides insight into which members of Congress may sponsor each of the various bills as well as what the legislative path forward for each looks like.
Rental income and operating expenses both set records and increased at rates higher than the consumer price index for housing in 2023, according to data in the 2024 Novogradac Operating Income and Expenses Report. In this week's podcast, Michael Novogradac and report author Kelly Gorman, a partner in Novogradac's Clark, New Jersey, office, discuss the findings of the report and what affordable housing operators should learn from them. They look at the overall increases, then drill down on specifics about property insurance, repairs and maintenance and utility expenses, including what caused increases and whether trends were likely to continue in 2024 and 2025. They also look at the effect of U.S. Department of Housing and Urban Development (HUD) rent and income limits and discuss expense categories that vary depending on geography.
Michael Novogradac, CPA, and Tony Grappone, CPA, continue their discussion on the top 10 tax issues renewable energy developers and investors should address with their tax accountants with this follow-up to the Dec. 17, 2024, episode. In Part 2, they cover the next five critical topics: assessing positive taxable income, ownership flips, revisiting cash waterfalls, tax credit recapture events and ownership changes during the year. This episode provides essential insights for managing the operational and disposition phases of clean energy projects, ensuring compliance and optimizing tax strategies.
Michael Novogradac, CPA, and Tony Grappone, CPA, discuss essential topics for renewable energy developers and investors to address with their tax preparers. They cover the first five of 10 key issues for renewable energy developments: placed-in-service date determination, tax depreciation conventions, comparing financial projections with actual results, whether a deficit restoration obligation is in place, and state and local tax considerations. This episode emphasizes the importance of preparing for a smooth tax season and avoiding costly pitfalls, providing valuable insights for both new and seasoned professionals in the renewable energy sector.
As 2024 nears its conclusion, Michael Novogradac, CPA, interviews Christina Apostolidis, CPA, to discuss year-end financial reassessments for affordable housing professionals. The episode of Novogradac's Tax Credit Tuesday podcast focuses on comparing actual performance to projected tax credit delivery. Novogradac and Apostolidis highlight three key areas to revisit: placed-in-service dates, lease-up status and updating expected eligible basis, all crucial for maximizing tax credits. Apostolidis, who will chair the Novogradac 2025 Affordable Housing Developers Conference in Florida next month, offers insights on managing these components effectively as the year ends. The episode is part of the "So You Want to Be a LIHTC Developer" series aimed at educating those in affordable rental housing finance.
The Community Development Financial Institutions (CDFI) Fund opened the calendar year 2024-2025 new markets tax credit (NMTC) application period Nov. 19, beginning a process that will result in a record $10 billion in NMTC allocation authority next year.' In this week's Tax Credit Tuesday podcast, guest host Brad Elphick, CPA, and Novogradac partner Rebecca Darling, CPA, discuss the application timing and what to expect in the record allocation round. They begin by discussing how the application works and is scored, then look at various deadlines before turning to changes in this year's application. After that, they talk about how a $10 billion round will be different, including a rapid-fire, six-question back-and-forth, before finally looking at what community development entities (CDEs) and the businesses that receive NMTC financing should be doing now.
Michael Novogradac, CPA, and Novogradac partner Tony Grappone, CPA, examine the complexities of year-end financial statement audits for renewable energy companies. They outline critical steps to ensure a seamless audit process, including the review of prior audits, identification of common errors to avoid and management of non-recurring items. Additionally, they provide guidance on proportional amortization accounting for new investors and emphasize important financial reporting deadlines for developers. This discussion is particularly beneficial for renewable energy accountants preparing for the forthcoming year.
An apparent sweep by Republicans of the White House and both chambers of Congress in the Nov. 5 election has major implications for community development tax incentives such as the low-income housing tax credit (LIHTC), new markets tax credit (NMTC), historic tax credit (HTC), renewable energy tax credits (RETCs) and the opportunity zones (OZ) incentive. In this week's Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Peter Lawrence, Novogradac's director of public policy and government relations, discuss the election's outcome and preview what to expect in coming months. They begin by looking at the chances for community development tax incentives to be included in year-end legislation, then examine who will lead tax-writing committees in the next Congress before moving on to the reasons and chances for the "Super Bowl of taxes." After that, they examine the outlook for various tax incentives in tax legislation. Novogradac and Lawrence will co-host a special webinar on the election results Nov. 19.
Financial forecasts are essential for every affordable housing developer to anticipate expenses, cash flow and access to capital to build or redevelop properties, including developments built using low-income housing tax credit (LIHTC) equity. In the latest installment of the Novogradac Tax Credit Tuesday podcast's recurring "So You Want to Be a LIHTC Developer" series, Michael Novogradac, CPA, and Miao Xue, CPA, delve into six ways that developers can enhance the benefits of financial forecasts. Novogradac and Xue introduce credit adjusters and twinning LIHTCs with renewable energy investment tax credits (ITCs) as well as digging deeper into four areas'development budget and eligible basis schedule, sources and uses and 15-year cash flow waterfall, the taxable income and loss schedule, and income and loss allocations and the Section 704(b) capital schedule'covered in a previous financial forecast-focused installment of "So You Want to Be a LIHTC Developer."
Michael Novogradac, CPA, and Novogradac director of multifamily property compliance Stephanie Naquin discuss pressing issues in low-income housing tax credit property (LIHTC) compliance. The discussion covers four key topics: the average income set-aside test (AIT) and its implementation challenges and solutions; the Housing Opportunity Through Modernization Act (HOTMA) and its compliance implications; handling casualty losses at housing credit properties, with a focus on presidentially declared disaster areas; and a comprehensive end-of-year compliance checklist for property owners to avoid non-compliance.
Two of the three major factors that determine fiscal year (FY) 2025 rent and income limits for low-income housing tax credit (LIHTC)-financed properties were recently released, giving a preview of what to expect when those limits are announced next April by the U.S. Department of Housing and Urban Development (HUD). In this week's Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Thomas Stagg, CPA, discuss those income limits, including what factors are involved in the calculation, what we know so far, how having a good estimate can assist developers and property managers and how HUD's projections for 2023 national median household income lined up with the data from 2023. They also discuss what's new with fair market rents, California's recently passed rent control legislation and which dates to remember between now and the release of FY 2025 income limits.
The deadline to defer capital gains by investing in a qualified opportunity fund (QOF) is Dec. 31, 2026. In this week's episode of Tax Credit Tuesday, host and Novogradac managing partner, Michael Novogradac, CPA is joined by Novogradac partner Jason Watkins, CPA, to discuss the looming deadline, its ramifications and what the possibilities look like for renewal and extension of the opportunity zones (OZ) incentive. They discuss possible passage in the "Super Bowl of Tax" in 2025, how different election outcomes could shape the path forward for the incentive and which representatives could sponsor the legislation. They discuss the possible of a change in the capital gains tax rate. They conclude by discussing ways members of the OZ incentive community can get engaged to push for renewal and extension. Additionally, Novogradac also celebrates the 35th anniversary of the company founded Oct. 17, 1989.
The Community Development Financial Institutions (CDFI) Fund announced in September awardees for the calendar year (CY) 2023 round of new markets tax credit (NMTC) allocation, providing $5 billion in allocation authority to 104 community development entities (CDEs). In this week's podcast, Michael Novogradac, CPA, is joined by Novogradac partners Rebecca Darling, CPA, and Brad Elphick, CPA, to talk about the awards and the upcoming combined $10 billion CY 2024-2025 round. They discuss high-level takeaways from the awards, including a record low number of first-time awardees, then look at what CDEs and low-income community businesses should be doing before turning to the timing of the combined round and the need for CDEs to be certified by the CDFI Fund.
Financial forecasts are a fundamental part of financing and developing any clean energy facility, particularly for evaluating investor and sponsor returns. This installment of the Renewable Energy Tax Credit Finance series delves into the key do's and don'ts of clean energy financial forecasts. Michael Novogradac, CPA, and Novogradac partner Tony Grappone, CPA, discuss valuable tips for construction costs, operational expenses, debt and equity sizing, and tax benefit analysis.
The first tax season to claim the elective pay incentive, sometimes called "direct pay," from the Inflation Reduction Act (IRA) of 2022 took place earlier this year. In this week's episode of Tax Credit Tuesday, host and Novogradac managing partner, Michael Novogradac, CPA is joined by Novogradac partner Alvin Lee, CPA , to review lessons learned from the incentive's first tax season. The conversation reviews the details of the incentive, which credits are available for direct pay and who can apply for it. Next, the conversation covers the reasons a taxpayer might opt for the elective pay option over other possibilities such as renewable energy tax credit (RETC) transfer. The conversation moves into two evolving issues facing the incentive around what qualifies as domestic content as well as the Jan. 1, 2025, switch for the solar investment tax credit (ITC) to a tech-neutral credit. Finally, the two discuss lessons learned from the first year of the incentive's tax season to apply to the 2025 season.
The tax credit equity market is affected by a variety of factors'and several looming factors could create upward or downward pressure on the pricing for low-income housing tax credits (LIHTCs), new markets tax credits (NMTCs), historic tax credits (HTCs) and clean energy tax credits. In this week's Tax Credit Tuesday podcast'the second of a two-part series'Michael Novogradac, CPA, discusses the issues that could affect equity pricing with three Novogradac partners: Brad Elphick, CPA; Tony Grappone, CPA; and Dirk Wallace, CPA. They begin by looking at how proposed Community Reinvestment Act (CRA) regulations might impact their respective credits, then look at the Basel III and Global Minimum Tax proposals and how they could affect tax credit equity markets. After that, they examine generally accepted accounting procedure (GAAP) regulations, as well as how proposed legislation could impact the markets and wrap up with what proposed tax law changes would have the greatest positive effect in the areas in which they work.
The tax credit equity markets for the federal historic tax credit (HTC), new markets tax credit (NMTC), low-income housing tax credit (LIHTC) and clean energy tax credits account for billions of dollars each year in investment in community development around the nation. In this week's Tax Credit Tuesday podcast'the first of a two-podcast series'Michael Novogradac, CPA, discusses the markets and their intersections with three Novogradac partners: Brad Elphick, CPA; Tony Grappone, CPA; and Dirk Wallace CPA. They examine pricing trends for HTCs, NMTCs, LIHTCs and clean energy tax credits, as well as what factors are playing a role in those trends and how each market affects the others. They then look at how the transferability and refundability provisions for clean energy tax credits under the Inflation Reduction Act of 2022 have affected all the markets. They wrap up with a preview of Part 2 of the series, which will deal with factors that will affect future pricing of tax credit equity.
In this episode of Tax Credit Tuesday , Michael Novogradac, CPA, and Tony Grappone, CPA, discuss the upcoming transition to technology-neutral clean energy tax credits. They provide an overview of the new technology-neutral clean energy investment tax credit (ITC) and production tax credit (PTC) rules taking effect on Jan. 1, 2025, and how different types of facilities qualify. They delve into the implications of the Inflation Reduction Act of 2022 and the stringent criteria for various technologies to qualify for the tech-neutral credits. Tony also shares ways to secure safe harbor provisions and insights on the shifting landscape of renewable energy finance. Tune in to learn how to prepare for these significant changes in the clean energy sector.
In mid-July, the Community Development Financial Institutions (CDFI) Fund announced that it would combine the calendar year (CY) 2024 and 2025 new markets tax credit (NMTC) allocation award rounds into a single $10 billion round. In this week's podcast, Michael Novogradac, CPA, and Brad Elphick, CPA, the head of the New Markets Tax Credit Working Group, discuss the announcement and its implications. They begin by looking at the possible timing of the CY 2023 awards announcement, then look at the possible timing of the opening of the CY 2024-2025 round before examining the number of awards and award sizes to expect from a $10 billion round, as well as the investor appetite for such a round. After that, they discuss the New Markets Tax Credit Working Group recommendations to the CDFI Fund, tips for community development entities (CDEs) and businesses interested in NMTC financing and resources for listeners.
On July 30, 2024, the Senate Finance Committee invited four financial experts to testify at the Tax Tools for Local Economic Development hearing, including Tax Credit Tuesday host and Novogradac managing partner, Michael Novogradac, CPA. In this 76-minute episode of Tax Credit Tuesday, Novogradac is joined by Novogradac partners John DeJovine, CPA, Brad Elphick, CPA, and Jason Watkins, CPA, to expand upon issues and questions discussed during the Senate hearing regarding the historic tax credit (HTC), new markets tax credit (NMTC) and the opportunity zones (OZ) incentive. The group discusses the legislative outlook for the various incentives, how the economic development tools can be combined with other incentives and issues specific to each incentive.
In this Tax Credit Tuesday episode, Michael Novogradac, CPA, and Novogradac partner Charlie Rhuda, CPA, dive into the intricacies of accessing 4% low-income housing tax credits and tax-exempt bonds in a competitive market. As part of their 'So You Want to Be a LIHTC Developer' series, they discuss the basics, provide historical context, and offer practical strategies to enhance the economic benefits of such financing. The episode also covers challenges developers face in obtaining bond financing and essential tips for competing effectively in this space. Featuring real-world examples and expert insights, this episode is packed with valuable information for both new and seasoned LIHTC developers.
In this episode of the Tax Credit Tuesday "So You Want to be a LIHTC Developer" series, Michael Novogradac, CPA, and guests Novogradac partner Susan Wilson, CPA, and Novogradac principal Robert Bennett, CPA, delve into the critical benefits of low-income housing tax credit (LIHTC) audits. This episode focuses on six ways audits provide value to LIHTC owners and developers, including eligible basis calculation, tenant compliance, first-year credit optimization, cash waterfall distributions and analytical review procedures. Learn how specialized expertise can enhance decision-making, sustain property feasibility and save time and money for developers and stakeholders in the affordable housing sector.
Year 15 marks the conclusion of the initial compliance period for a low-income housing tax credit (LIHTC) property, a milestone that brings tax complexities for the investor and the developer. In the latest installment of Novogradac's Tax Credit Tuesday podcast series, "So You Want to Be a LIHTC Developer," Michael Novogradac, CPA, and Kevin Wilson, CPA, discuss accounting issues around Year 15. First, they discuss the ways investors and developers report LIHTC transactions on their generally accepted accounting principles (GAAP) statements, discussing the differences between approaches such as the equity method, proportional amortization and consolidations. They also discuss issues facing investors and developers such as impairment, exit taxes and resyndications.
Year 15 is a crucial period in the life cycle of a property financed by low-income housing tax credit (LIHTC) equity, one filled with significant decisions by the property owner and their investor partner. In this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac partner Nicolo Pinoli, CPA, discuss some crucial issues, including the right of first refusal (and related tax issues), the qualified contract process and resyndication. In the discussion, they examine some of the assertions and some potential challenges to different approaches, including what could motivate developers to pursue different outcomes.
Developing affordable rental housing with low-income housing tax credits (LIHTCs) is a process that can take multiple years, from conception to placing in service, beginning operation and beyond. In this week's episode of Tax Credit Tuesday, guest host Dirk Wallace, CPA, and Karie McMillen, CPA, provide an overview of the stages of the development process, from forming a partnership to annual compliance and many other stops along the way. First, they discuss the most common financing structure for a LIHTC development. With that scope established, McMillen details 11 key moments during the development process, discussing several in greater detail. Finally, the two share insights for developers who are just getting started in the development process.
Under the Inflation Reduction Act of 2022, certain energy facilities can qualify for a 10% bonus tax credit for solar, onshore wind and battery projects that have a minimum amount of domestic content. The IRS in May released new guidance making it easier to determine whether a project qualifies for the bonus credit. In this episode of Tax Credit Tuesday, guest host Brad Elphick, CPA, and Tony Grappone, CPA, dive into the recent domestic content bonus credit guidance for renewable energy projects. They discuss implications for developers, investors and lenders, as well as how Novogradac can provide agreed upon procedures services to help project partners assess whether there are any issues in the way of a facility meeting the domestic content criteria.
With five months until the general election, possible outcomes are varied'and the stakes are high for community development stakeholders. In this week's Tax Credit Tuesday, Michael J. Novogradac, CPA, and Peter Lawrence, Novogradac's director of public policy and government relations, discuss why this election is so important and the effects of different possible outcomes on community development tax credits. They begin by talking about the expiring provisions and why tax legislation is almost certainly on the agenda for the next Congress, then they look at the state of the races for president, the Senate and House of Representatives. After that, they examine each scenario and what each might mean for community development tax incentives.
Year 7 marks the end of the compliance period for a new markets tax credit (NMTC) transaction, marking seven years since an investor made its qualified equity investment into a community development entity (CDE). In this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Greg Clements, CPA, discuss the most-common type of Year 7 NMTC exit, the put-call structure. After defining the structure, Novogradac and Clements outline the roles and viewpoints of the investors, qualified active low-income community businesses (QALICBs) and CDEs during a Year 7 exit. Later, Clements gives his perspective on the value of planning, timing and communication between the parties.
Property compliance is multilayered for owners and managers of low-income housing credit (LIHTC) properties, with complexity increasing for mixed-income properties, which are properties whose renters make up to varying levels of the area median income, often including market-rate apartments. In this episode of Tax Credit Tuesday, Michael Novogradac, CPA , and Stephanie Naquin, HCCP, COS , delve into compliance for mixed-income properties that use the LIHTC. They discuss the definitions of 100% affordable housing and mixed-income housing, recertifications, the next-available-unit rule and more.
The Inflation Reduction Act of 2022 reduced the base rate of the then-26% renewable energy investment tax credit to 6% for renewable energy projects. Few projects are financially viable with just the 6% credit, but projects can qualify for a 30% credit if they satisfy two criteria: prevailing wage and apprenticeship (PWA) requirements. In the latest installment in Tax Credit Tuesday's recurring Renewable Energy Tax Credit Finance series, Michael Novogradac, CPA, and Tony Grappone, CPA, discuss the credits and technologies to which PWA criteria apply, how to meet PWA criteria and how to provide investors comfort with PWA compliance.
Eligible basis is a foundational factor to determine the maximum amount of low-income housing tax credits (LIHTCs) generated by an affordable housing property. In this week's podcast, Michael Novogradac, CPA, and Mark Shelburne, a Novogradac housing policy consultant, discuss the fundamentals of eligible basis and the implications for properties ahead of a special six-part online course offered by Novogradac. They examine the purpose of that course series, then look at the role eligible basis plays in determining the tax credit allocation amount. After that, they look at the challenges in determining what parts of an affordable housing development are depreciable and what constitutes eligible basis, including examples of challenges faced. They wrap up by talking about opportunities to learn more about the nuances of eligible basis.
Many developers are familiar with the challenges when using historic tax credits (HTCs) to preserve America's history, including issues such as climbing interest rates, rising insurance rates and increasing costs of construction and labor. In this week's episode of the Novogradac Tax Credit Tuesday podcast, Michael Novogradac, CPA , and John DeJovine, CPA , discuss gap financing solutions for developers involved in historic preservation. First, the conversation covers the use of bridge loans, tax increment financing (TIF), payment in lieu of taxes (PILOT), property assessed clean energy (PACE) funds and other state, local and municipal sources of financing. Later, Novogradac and DeJovine discuss how the HTC pairs with other affordable rental housing and financing community development using such incentives as the low-income housing tax credit (LIHTC), new markets tax credit (NMTC), opportunity zones (OZ) equity, and renewable energy incentives such as the production tax credit (PTC) and investment tax credit (ITC).
The U.S. Department of Housing and Urban Development (HUD) released 2024 rent and income limits earlier this month'limits that determine renter eligibility for HUD-assisted programs and for properties financed by low-income housing tax credit (LIHTCs). The limits also determine the maximum rents that owners of LIHTC properties can charge tenants. In this week's podcast, Michael Novogradac, CPA, and Novogradac partner Thomas Stagg, CPA, discuss the rent and income limits. They look at key takeaways, how the new 10% ceiling affected limits, what geographic areas saw income limit growth that was below the national average of 6% or decreased and how the income limits affect (or don't affect) HERA special properties. They also look to what to expect in 2025 and key dates for data release that will affect those 2025 limits.
In the latest installment in Tax Credit Tuesday's recurring Renewable Energy Tax Credit Finance series, Michael Novogradac, CPA, is joined by Tony Grappone, CPA to discuss final regulations concerning the elective pay option for certain renewable energy investment tax credits. The Internal Revenue Service published the final regulations in the March 11 Federal Register to adopt and codify temporary regulations issued in June 2023, with slight modifications. Learn about the elective pay final regulations, how they differ from the temporary regulations, potential penalties for excessive payments and the impact of other financing on elective pay.
Affordable housing and community development finance can be dense, layered, complex topics to understand. In the latest episode of the Novogradac Tax Credit Tuesday podcast, Michael Novogradac, CPA , and Wayne Michael, CPA , Novogradac's senior director of education, discuss Novogradac's e-learning platform,' Novoco Training , which seeks to bridge the gaps between novice and knowledgeable when it comes to developing affordable rental housing and financing community development using such incentives as the low-income housing tax credit (LIHTC), historic tax credit (HTC), new markets tax credit (NMTC), renewable energy production tax credit (PTC) and investment tax credit (ITC) and more. They discuss what distinguishes the e-learning platform from other points of contact and information with Novogradac, the different types of content and their formats available and ways users can access that content.
Many in the affordable rental housing development community may think they know what is meant by the term "mixed income," but, in fact, the phrase has many different interpretations depending on person, jurisdiction, property type, ownership structure and more. In the latest installment in the Tax Credit Tuesday podcast's So You Want to Be a LIHTC Developer series, Michael Novogradac, CPA , and Mark Shelburne , Novogradac housing policy consultant, discuss six different ways the term can be interpreted. Later, the pair discusses three potential impacts these terms can have on investor interest, additional debt burden and property compliance.
In this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Brad Elphick, CPA, discuss four hot topics in the new markets tax credit (NMTC) community. First, they discuss upcoming qualified equity investment issuance and reporting deadlines for prior allocatees. Second, they talk about recommendations to combine the next two allocation rounds into a single $10 billion allocation round. Third, they discuss what's new and notable with the 2024 NMTC application that was released for public comment. They conclude with important updates in the NMTC Compliance FAQs document.
The United States Tax Court ruled in a Feb. 20 decision that a taxpayer was correct to include bond issuance costs in eligible basis for a 4% low-income housing tax credit (LIHTC) property in New York City. That decision ran counter to more than two decades of practice that followed Internal Revenue Service (IRS) guidance from as far back as 2000 that said including such costs was disallowed. In the latest installment of Tax Credit Tuesday, Michael Novogradac, CPA, and Nicolo Pinoli, CPA, discuss the details of the case in question before the court as well as the possible ramifications of the decision, including what the IRS could do now and what this decision could mean for credit allocating agencies, developers, investors and others who build multifamily affordable rental housing using LIHTCs.
In the latest installment in Tax Credit Tuesday's recurring Renewable Energy Tax Credit Finance series, Michael Novogradac, CPA, is joined by Tony Grappone, CPA, and Peter Lawrence to discuss four legislative and regulatory hot topics of concern for those in the renewable energy development community in early 2024. First, the trio discusses the Tax Relief for American Families and Workers Act of 2024, which contains green and clean energy provisions and could see passage this month during several rounds of congressional budgetary discussions. Next, the group discusses Basel III regulations and their potential rise to risk weighting for renewable energy tax credit investments. Third, they discuss proposed tax regulations for multiple renewable energy and energy storage investment tax credits. Finally, the three discuss recently released guidance for the domestic content adder for renewable energy development that was included in the 2022 Inflation Reduction Act.
The fiscal year (FY) 2024 round of the Capital Magnet Fund (CMF) opened Feb. 15. Approximately $250 million in cash awards is available to Community Development Financial Institutions and qualified nonprofit housing groups to fund the development, renovation and preservation of affordable rental housing and homeownership. In this week's episode of Tax Credit Tuesday, host Michael Novogradac, CPA, and guests Brent Parker, CPA, and Amanda Read, CPA, discuss the 2024 round of the CMF. The group provides basic information for prior awardees, prior unsuccessful applicants and those curious about applying this year. Later, the discussion includes deeper information about the application process and tips for how to gain an edge in a funding application process where roughly one-third of applicants succeed.
Over the past 10 years, the number of state-level low-income housing tax credit (LIHTC) incentives has increased from 13 to 30 as more states recognize the value of a state LIHTC to help fill financing gaps for affordable multifamily rental housing. In this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac partner Aaron Sherrard, CPA, discuss state housing credits as part of the ongoing "So You Want to Be a LIHTC Developer" podcast series. They review the basics of state LIHTCs, then discuss the differences and opportunities for certificated and allocated credits before moving on to structuring issues for transactions involving state LIHTC equity. After that, they look at what types of state taxes are offset by the credits and how states can design incentives to increase their value.
Affordable multifamily rental housing property developers and managers can apply now for roughly $2 billion in grants and direct-, below-market loans via the Green and Resilient Retrofit Program (GRRP). Introduced via the Inflation Reduction Act of 2022, GRRP is a federal program that provides green and clean-energy support to rental properties that receive support from the U.S. Department of Housing and Urban Development (HUD). In this week's episode of Tax Credit Tuesday, host Michael Novogradac, CPA , and guests Dirk Wallace, CPA , and Karie McMillen, CPA , discuss the multi-wave application process, which splits the funding into three cohorts'Elements, Leading Edge and Comprehensive. The podcast discusses the basics of the program, provides information for listeners about the application process and supplies information to consider after winning an award.
While the Housing Opportunities Through Modernization Act (HOTMA) was signed into law in 2016, most provisions of the legislation'which is intended to streamline administration and ease the burden of compliance for affordable rental housing, including that financed by low-income housing tax credit (LIHTC) equity'didn't take effect until Jan. 1. In this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Stephanie Naquin, Novogradac's director of multifamily property compliance, discuss the provisions of HOTMA, including changes in how to calculate student financial aid and child support. They also discuss how HOTMA changes the imputation of income from assets and verification of tenant income before wrapping up with a look at how state agencies are implementing the new provisions.
Sensitivities around timing can lead to variances in the volume of low-income housing tax credits (LIHTCs) an owner or manager can claim in the first year a LIHTC property is placed in service. In this episode of Tax Credit Tuesday, Michael Novogradac, CPA , and Novogradac partner Dayle Dalling, CPA, discuss four paths to optimizing first-year LIHTCs: 9% new construction, 4% new construction, 9% acquisition-rehabilitation and 4% acquisition-rehabilitation. They outline why the issue is important to owners, managers, developers and more before segueing into how first-year credits are determined.
Authorized under the Inflation Reduction Act of 2022, the ability to transfer renewable energy investment tax credits is increasing liquidity in the tax credit marketplace and is changing the way partnerships are structuring renewable energy transactions. Michael Novogradac, CPA, and Novogradac partner Tony Grappone, CPA, discuss 2023 Q4 expectations vs. actual closings, favored transferability structures, the effects of transferability on tax credit equity pricing and transferability tips.
The U.S. Department of Housing and Urban Development (HUD) published a notice in the Jan. 10 Federal Register establishing a 10% cap on income limit increases for housing fin ' 'anced by low-income housing tax credits (LIHTCs), private activity bonds (PABs) and various HUD programs, including Section 8. In this week's episode of the Novogradac Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Thomas Stagg, CPA, discuss how the cap has historically been calculated and how the notice clarifies the calculation of rent and income limits. Later, they discuss the possible effects of the decision as well as future dates to circle on the calendar.
Affordable rental housing financed by low-income housing tax credit (LIHTC) equity can either be new construction or property that is acquired and rehabilitated. In this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Christina Apostolidis, CPA, discuss the acquisition-rehabilitation (acq-rehab) option as part of the ongoing "So You Want to Be a LIHTC Developer" series. They examine what makes a property eligible to receive acq-rehab credits, the differences that developers will see between new construction and acq-rehab and issues related to tenants in properties that are acquired and rehabilitated.
Rental income, operating expenses and net operating income all set new records in 2022, according to data published in the Novogradac 2023 LIHTC Income and Operating Expenses Report, reflecting some of the economics of operating affordable housing properties in the shadow of the COVID-19 pandemic and related economic issues. In this week's Tax Credit Tuesday, Michael Novogradac, CPA, and Kelly Gorman, the lead author of the report, discuss what we learned from 2022 data, including top-level impressions, why the repairs and maintenance category jumped, the curious increase of both rental income and vacancy loss and what's happening with property insurance. They also look at the effects of HUD's method of determining income caps for low-income housing tax credit properties and what's happened in 2023.
There are many economic benefits generated by renewable energy facilities. Chief among them are tax credits, tax losses and distributable cash flow from operations and from sale or refinance. These benefits are shared between the investor and developer sponsor, typically outlined in a multi-year benefit schedule. However, there are other significant economic benefits for a sponsor, the two most notable being developer fees and annual asset management fees. In today's podcast, Michael Novogradac, CPA, and Novogradac partner Tony Grappone, CPA, will review the main economic benefits for a sponsor and how the ownership structure affects the sharing of those benefits.
In October, the National Council of State Housing Agencies (NCSHA) released an updated edition of its Recommended Practices in Housing Credit Administration, a collection of standards that guides how states administer the low-income housing tax credit (LIHTC). In this week's episode of the Novogradac Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac housing policy consultant Mark Shelburne highlight six of the 46 recommended practices in the release. The two discuss diversity of participants in LIHTC transactions, tax- and bond-financed developments, the distinction between development costs for new constructions versus acquisition-rehabilitations, the Internal Revenue Service (IRS) form 8609, the nonprofit right of first refusal and the addition of tenant protection guidance.
Recent legislative and market changes are influencing renewable energy tax credit structures. In this week's episode of the Novogradac Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Tony Grappone, CPA, discuss which ownership structures are gaining popularity and how the major economic benefits generated by renewable energy facilities are being apportioned between investors and developers.
The three agencies that oversee the Community Reinvestment Act (CRA)'designed to ensure banks invest in the low- and moderate-income areas where they receive deposits'released their final regulations Oct. 24, making the first substantial change to CRA regulations since 1995. In this week's Tax Credit Tuesday, Michael Novogradac, CPA, and Peter Lawrence, Novogradac's director of public policy and government relations, discuss the new CRA regulations and how they may affect various tax incentives. They begin by looking at the provisions of the final rule, then discuss the implications for the low-income housing tax credit (LIHTC) and new markets tax credit (NMTC) before moving on to see how the regulations might affect the historic tax credit (HTC), renewable energy tax credits (RETCs) and the opportunity zones (OZ) incentive. After that, they discuss the possible timeline and share resources about the coming changes.
The Community Development Financial Institutions (CDFI) Fund last month released the application for the calendar year 2023 new markets tax credit (NMTC) allocation awards. In this week's episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Rebecca Darling, CPA, discuss the new application and what applications and businesses that benefit from NMTC financing should know and should be doing. They discuss how the application is organized and scored, look at deadlines and examine changes to the application. Then they discuss how to approach the application, including how much time to expect and how Novogradac can assist community development entities (CDEs). They also talk about the communities outcomes section and what businesses should do to be on a CDE's radar.
The U.S. Census Bureau released in September the American Community Survey data for 2022, which is the first step for the U.S. Department of Housing and Urban Development (HUD) to determine 2024 rent and income limits for low-income housing tax credit (LIHTC) properties. In this week's episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Thomas Stagg, CPA, discuss how the new data affects the income limits calculation, how HUD calculates the cap, how that could possibly change, how significant rent and income limits are compared to other financial considerations at an affordable housing property and whether HUD might use a different metric to determine the limits. They also discuss how rent and income limits affect the determination of difficult development areas and qualified census tracts and look at other resources to deepen your understanding of this issue.
There are more than 3,000 public housing authorities (PHAs) in the United States and those PHAs oversee nearly 1 million public housing units while being involved in a variety of U.S. Department of Housing and Urban Development (HUD) programs, including housing choice vouchers. In this week's episode of the Novogradac Tax Credit Tuesday Podcast, Michael Novogradac, CPA, and Rich Larsen, CPA, discuss a variety of HUD- and PHA-affiliated topics, including the state of the Rental Assistance Demonstration (RAD) program, an update on the Faircloth-to-RAD opportunity and recent HUD guidance on solar power and compliance.
In this Renewable Energy Tax Credit Finance Series episode of the Novogradac Tax Credit Tuesday Podcast, Michael Novogradac, CPA, and Tony Grappone, CPA, discuss year-end financial reporting recommended practices for renewable energy tax credit-financed facilities. First, they discuss tax and financial reporting recommended practices, so sponsors and investors can prepare for a successful post-closing phase. They discuss deficit restoration obligations and commonly misunderstood differences between what costs can be capitalized versus expensed. In the second part of the discussion, they share several important issues to consider during the operations phase.
In this So You Want to Be a LIHTC Developer Series podcast episode, Michael Novogradac, CPA, and Stacey Stewart, CPA, discuss five key investor concerns that low-income housing tax credit developers should understand and know how to address. They discuss 1) estimating the timing of the projected tax benefits, which are namely tax credits and tax losses, 2) satisfying administrative requirements that developers commit to under the partnership agreement with their investor, 3) respecting the allocations of tax losses, 4) investor expectations at the end of their investment period, and 5) the effect of a significant positive capital account on investors rights to share in cash at the end of the compliance period.
The Community Development Financial Institutions (CDFI) Fund announced calendar year 2022 (CY22) new markets tax credit (NMTC) allocation authority awards Sept. 22, marking the 19th round of such allocations and beginning speculation on when the next round's application season will begin. In this week's Tax Credit Tuesday podcast, Michael Novogradac, CPA, and guests Rebecca Darling, CPA, and Brad Elphick, CPA, discuss the takeaways from the CY 2022 awards and what community development entities (CDEs) should be doing now, whether or not they were awardees. They also discuss what low-income community businesses should do to improve their chances of receiving NMTC financing and make informed speculation on when the next round of applications will open. Following that, they discuss the case for NMTC permanence and look at upcoming education and networking opportunities for those in the NMTC world.
Every affordable housing developer needs financial forecast to anticipate expenses, cash flow and access to capital to build the property, including developments built using low-income housing tax credit (LIHTC) equity. In the latest installment of the Novogradac Tax Credit Tuesday podcast's recurring "So You Want to Be a LIHTC Developer" series, Michael Novogradac, CPA, and Miao Xue, CPA, discuss four key schedules for developers to consider when preparing their own financial forecasts and potential roadblocks on the path for each. They discuss the development budget and eligible basis schedule, sources and uses and 15-year cash flow waterfall, the taxable income and loss schedule, and income and loss allocations and the Section 704(b) capital schedule.
This 800th episode of the Novogradac Tax Credit Tuesday podcast launches "Renewable Energy Tax Credit Finance Series," which will focus on renewable energy tax credit (RETC) financing updates and trends. In this episode, Michael Novogradac, CPA, and Tony Grappone, CPA, discuss various factors affecting RETC structuring trends, including the Inflation Reduction Act, transferability, refundability and bonus credits.
State tax credits are often the crucial tool to filling financial gaps for high-impact community development investments. This statement is no more true than in the arena of state historic tax credits (HTCs). Thirty-eight states have some version of a state-level HTC, a credit that's paired with the federal tax credit. In this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac partner Warren Sebra, CPA, discuss how to get started using state HTCs, how federal and state HTCs compare, the difference between certificated and allocated credits and how to close financing gaps in states that do not have a state HTC.
The Inflation Reduction Act of 2022 created two new ways to monetize renewable energy tax credits (RETCs): 1) transferability, the ability to transfer certain RETCs as if they were separate property, and 2) elective pay or direct pay, the ability for certain tax-exempt owners of renewable energy property to report certain RETCs on their tax returns, and in turn, have the Internal Revenue Service refund the tax credits. Treasury recently held separate public hearings on their proposed guidance for transferability and for elective pay. In this week’s episode, Michael Novogradac, CPA, and Novogradac partner Alvin Lee, CPA, discuss where the industry stands on using transferability and elective pay, when renewable energy property owners might consider the various options and what types of stakeholder questions remain.
Since its passage one year ago, the Inflation Reduction Act of 2022 has spurred hundreds of billions of dollars in domestic, utility scale clean energy investments. Three incentives–the HOMES Energy Rebate Program, the Internal Revenue Code Section 45L Energy Efficient Homes Credit and the solar investment tax credit (ITC)–provide options to developers, investors and others in the affordable housing community who want to add green and clean energy elements to their properties. On this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Brent Parker, CPA, discuss these three incentives and what affordable housing and renewable energy professionals should know about each when considering including them in their low-income housing tax credit (LIHTC) developments.
Affordable housing professionals who use the 4% low-income housing tax credit to finance and build homes may be familiar with two key tests that are crucial to bond transactions: The 50% test and the 95-5 test. On this week’s episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Charlie Rhuda, CPA, unpack four essential pieces of information about each of these two tests. First, they give background on each of the tests before discussing issues of timing and application. Then, the two discuss the consequences of failing the test and then suggest ways to overcome those obstacles.
Rental property owners who receive assistance from the U.S. Department of Housing and Urban Development (HUD) through debt financing and/or tenant rent subsidies used to develop and preserve affordable housing are subject to several reporting and compliance requirements. On this week’s episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Susan Wilson, CPA, delve into the reporting and compliance requirements that come with these programs. The two discuss what the compliance requirements include, what are some of the common pitfalls or hurdles to know for property owners and managers who use these subsidies or financing and then best practice to avoid violations and/or issues.
While the supply of community development tax incentives is a multi-billion-dollar annual market for tax credits that include the low-income housing tax credit (LIHTC), new markets tax credit (NMTC), historic tax credit (HTC) and various clean/renewable energy tax credits (RETCs), the demand for such credits plays a major role in determining their value. On this week’s Tax Credit Tuesday, Michael Novogradac, CPA, is joined by Novogradac partners Tony Grappone, CPA; Dirk Wallace, CPA; and Brad Elphick, CPA; for Part 2 of a two-part podcast series on the entire tax credit equity market. They look at how the current state of the economy affects tax credit demand, how recent bank problems affected the market and how new transferability and elective pay mechanisms for clean energy credits might affect demand. They then talk about how proposed global minimum tax, expected Community Reinvestment Act (CRA) reform, a recent change in the proportional amortization accounting method with tax credits and environmental, social and governance (ESG) investing could or do affect demand.
Community development tax incentives create a multi-billion-dollar annual market for tax credits, including the low-income housing tax credit, new markets tax credit, historic tax credit and various clean energy tax credits. On this week’s Tax Credit Tuesday, Michael Novogradac, CPA, is joined by Novogradac partners Tony Grappone, CPA; Dirk Wallace, CPA; and Brad Elphick, CPA; for Part 1 of a two-part podcast series on the entire tax credit equity market. In this podcast, the focus on the supply of tax credits, beginning with a look at the state of the current tax credit equity market in each of the four major areas, including the typical tax credit price. After that, they look at the overall size of the tax credit equity market and describe the primary investors. They wrap up with a look at legislative proposals and what effect they could have on the various tax credit equity markets, then preview next week’s podcast, which will focus on the demand side of the economic equation.
The U.S. Department of Housing and Urban Development (HUD) annually releases income limits to determine eligibility for low-income housing tax credit (LIHTC) properties. HUD also releases caps that determine the maximum annual income a family can have and still be eligible to occupy HUD-assisted and LIHTC-financed housing, as well as to determine the maximum rent that tenants can be charged. On this week’s Tax Credit Tuesday, Michael Novogradac, CPA, and Thomas Stagg, CPA, discuss the income limits cap–which is 5.92% this year–and whether HUD could have a more predictable methodology to set the cap. They discuss what the cap affects, the history of income limit caps and speculate why HUD changed its methodology in 2022. After that, they look at how a lack of predictability is a challenge in affordable housing, possible methodologies HUD could use and look at key upcoming dates in setting the 2024 income limits and cap.
This summer marks five years since the effective launch of the opportunity zones (OZ) incentive. In this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and guests John Sciarretti, CPA, and Jason Watkins, CPA, discuss OZ hot topics, such as the recently introduced Opportunity Zones Transparency, Extension and Improvement Act, which would create rural opportunity zones and create reporting requirements. They also discuss eight common OZ mistakes and how to avoid or correct them.
One of the crucial steps to an affordable housing property receiving low-income housing tax credits (LIHTCs) is the placed-in-service application the developer files with the housing credit agency. That application sets up the property to receive its Internal Revenue Service (IRS) Forms 8609, which allocate the tax credits on a per-building basis. In this Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Tabitha Jones, CPA, talk about the placed-in-service application. They begin by discussing what is in the application and variations from state to state. After that, they address common mistakes made in placed-in-service applications, the differences between such applications for 4% LIHTC and 9% LIHTC transactions and the role of final cost certifications in the application.
With market and economic conditions changing so rapidly, historic tax credit (HTC) developers, syndicators, investors and lenders are updating their financial models more frequently for their HTC projects. In this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and guest Dave Graff, CPA, discuss specific development costs that they see changing most often in the current economic environment, as well as some of the unexpected situations that arise that can cause delays in tax credit delivery.
Developers, investors, syndicators, property managers and more know there are plenty of upsides to partnering with nonprofit organizations to develop and manage low-income housing tax credit properties. In this week’s episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Lance Smith, CPA, discuss four key tax considerations for anyone considering partnering with a nonprofit developer to build affordable housing. The pair discuss a vital piece of information regarding tax-exempt use property and the importance of material participation by a nonprofit developer and then conclude with a discussion of programs and subsidies possible when partnering with nonprofit partners, including potential access to grant funding.
Capitol Hill has seen a flurry of legislation introduced this year to strengthen, expand, extend or create tax incentives in affordable housing and community development. The low-income housing tax credit, historic tax credit, new markets tax credit, opportunity zones and more are just some of the incentives that could be affected by recently introduced legislation. In today’s Tax Credit Tuesday, Michael Novogradac, CPA, and Peter Lawrence, Novogradac’s director of public policy and government relations, discuss an overview of each of the bills and the incentives they would impact. Later, they discuss possible vehicles for passage for the various bills as well as steps those in affordable housing and community development can take now to push for the legislation.
Building for-sale affordable housing in economically distressed areas is a challenge that many for-profit and nonprofit developers face and a key hurdle is gaining financial equity. One method is the use of new markets tax credits to finance such housing and in today’s Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac partner George Barlow, CPA, discuss the issues and opportunities related to such financing. They begin by talking about possible sources for such housing, then discuss the requirements for NMTC-financed for-sale housing, who is involved in this and where it works best. They also discuss how and when to contact a community development entity, significant tax issues and more.
The U.S. Department of Housing and Urban Development (HUD) released 2023 income limits to determine eligibility for low-income housing tax-credit (LIHTC) properties and HUD-assisted programs last week. On this week’s Tax Credit Tuesday, Michael Novogradac, CPA, and Thomas Stagg, CPA, discuss the income limits and the implications for operators of LIHTC properties. They look at the big-picture takeaways, then examine the effects of the cap on properties. After that, they discuss action steps to take now, what we expect for 2024 and what resources are available to those who are interested.
Several upcoming deadlines and changes in low-income housing tax credit (LIHTC) property compliance have wide-ranging implications for developers, owners, investors, property managers and beyond. Michael Novogradac, CPA, and Stephanie Naquin, HCCP, COS, discuss four major issues on the horizon in 2023 in property compliance: the average income set-aside, the implementation of new income and asset rules, new physical inspection protocols and income limits. They cover what listeners need to know on each of these topics as well as providing insights for listeners for key dates and deadlines to keep in mind in the months ahead.
The Community Development Financial Institutions Fund incentivizes community development and economic growth through the new markets tax credit (NMTC). Small business loan funds are one way community development entities (CDEs) can invest in small businesses in amounts up to $4 million. In today’s episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Greg Clements, CPA, discuss the pros and cons of small business loan funds for CDEs, lenders, borrowers and more. They discuss the reasons a CDE might use a loan fund rather than a series of loans as well as strategies for implementing the funds. They also discuss how a CDE might structure loan funds with the ability to make them into evergreen funds.
The Inflation Reduction Act of 2022 allows for the transferability of certain renewable energy tax credits, including the production tax credit (PTC) and the investment tax credit (ITC). As the renewable energy community awaits further guidance from the Internal Revenue Service, Michael Novogradac, CPA, and Josh Morris, CPA, discuss in this week’s podcast the basics of transferability, including how it compares to more traditional renewable energy partnership structures. They discuss possible issues around timing and recapture, as well as anticipated guidance about transferability of renewable energy tax credits.
Federal law generally requires low-income housing tax credit (LIHTC) properties to remain rent restricted and only available to low-income tenants for a minimum of 30 years. This period of required affordability beyond Year 15 is called the extended-use period. Some states extend the affordability period even longer. As more LIHTC properties reach or approach Year 30, Michael Novogradac, CPA, and Novogradac partner Chris Key, CPA, discuss four common options for LIHTC owners at Year 30, including the benefits, considerations and challenges of each.
A growing number of real estate developers are choosing U.S. Department of Housing and Urban Development (HUD)-insured loans: Section 221(d)(4) and Section 223(f). Both programs allow real estate developers to borrow more money at lower interest rates and longer amortization terms, compared to most conventional loans. Michael Novogradac, CPA, and Novogradac partner Tiffany French, CPA, compare and contrast the benefits and requirements of Section 221(d)(4) and Section 223(f) loans with conventional loans.
The Financial Accounting Standards Board released Accounting Standards Update 2023-02, which expanded the ability to use the proportional amortization method of accounting to all tax credits. Michael Novogradac, CPA, and Novogradac partner Brad Elphick, CPA, discuss what the announcement means for multiple types of tax credit investments, including federal low-income housing tax credits, new markets tax credits, historic tax rehabilitation credits and renewable energy tax credits such as the production tax credit and investment tax credit. They discuss how the impacts of proportional amortization can be further expanded and how additional action could spur deeper change.
The Financial Accounting Standards Board (FASB) published Accounting Standards Update (ASU) 2023-02 on March 29, which expands the proportional amortization method to account for investments in all tax credit structures. That accounting method was previously allowed only for low-income housing tax credit (LIHTC) investments, but now is available, by election, to all community development tax credit investment reporting that meet five conditions. Michael Novogradac, CPA, and Novogradac partner Nat Eng, CPA, discuss the implications of ASU 2023-02 for renewable energy investment, including key aspects of the guidance, the hurdles of applying proportional amortization and ways to overcome those hurdles.
Due to uncertainty about U.S. Department of Housing and Urban Development funding levels each year, a growing number of public housing authorities (PHAs) are exploring asset repositioning options for their public housing stock. Michael Novogradac, CPA, and Novogradac partner Rich Larsen, CPA, discuss five common asset repositioning options, including the Rental Assistance Demonstration (RAD) program, RAD with Section 18 blends, streamlined voluntary conversions, homeownership and maintaining the status quo. Learn about the benefits and challenges of each option.
Developers of historic buildings know that preserving the architectural integrity and historic character of a property adds significant additional development costs, which in turn, creates or expands a financing gap. Michael Novogradac, CPA, and Novogradac partner Warren Sebra, CPA, discuss additional financing sources for historic preservation, beyond the federal historic tax credit. They discuss the low-income housing tax credit, state historic tax credits, the new markets tax credit, the solar tax credit and Section 45L credit, and opportunity zones.
Provisions in last summer’s Inflation Reduction Act (IRA) created “adders” to the renewable energy investment tax credit when solar power is installed on affordable housing properties. In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Dirk Wallace, CPA, discuss the provisions–both for affordable housing and for other low-income communities. They take a brief detour to discuss the Internal Revenue Code Section 45L credit expansion that was part of the IRA, then talk about Internal Revenue Service guidance concerning the allocation plan for 1.8 gigawatts of solar power, including how many properties may receive allocation, the timeline for the applications and what developers should be doing now to get ready. They also discuss issues for investors and syndicators of low-income housing tax credits and forthcoming guidance, including how benefits to tenants will be measured.
Housing starts–including multifamily–have outpaced household formation over the past three years, although the longer-term trend is the reverse: That households are forming faster than homes are being created over a five- and 10-year period. In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, discusses the short- and long-term effects of housing trends with Kelly Gorman, a Novogradac partner in the company’s valuation practice. They discuss whether market-rate apartment rents are dropping anywhere close to low-income housing tax credit (LIHTC) properties, what types of housing or geographical areas would be first to feel the effects of such a change and how a recession could affect affordable housing–taking a look back to the Great Recession and the pandemic-influenced recession for context. They include what factors affordable housing developers and owners should examine to see whether the supply-and-demand balance is changing in their area.
Standalone energy storage became eligible for the renewable energy investment tax credit (ITC) through a provision in the Inflation Reduction Act, which was signed into law last summer. In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, discusses the implications and opportunities for that with Rob Bryant, CPA, a Novogradac partner. They examine the need for storage, how storage’s eligibility for the ITC changed the market and how to determine whether standalone storage makes sense for you. They also examine the amount of tax credit equity that might come into a standalone storage, how it could play out on a smaller scale and what issues developers should address.
As the new markets tax credit (NMTC) community concludes a busy period between the award of one round and the applications for another, some community development entities (CDEs) will turn their sights toward NMTC compliance reporting. In this week’s podcast, Michael Novogradac, CPA, and Austin Power, CPA, provide an overview of NMTC compliance reporting, why it’s valuable to the Community Development Financial Institutions (CDFI) Fund as well as what can happen to CDEs that fall out of compliance. Later, they discuss Power’s four pieces of advice for CDEs to set themselves up for compliance reporting success, including being mindful of timeliness and taking advantage of interim certification.
Qualified opportunity funds being tracked by Novogradac reported nearly $10 billion in equity investment during 2022 and we recently began another session of Congress with a possibility of legislation to extend and enhance the opportunity zones (OZ) incentive. In this week’s podcast, Michael Novogradac, CPA, and John Sciarretti, CPA, discuss the state of incentive and the chances for changes either by legislation or regulation. They also discuss the role the Novogradac Opportunity Zones Working Group is playing and what might be in an “Opportunity Zones 2.0” bill. They then examine highlights of the recent Novogradac QOF equity-raising report.
The fiscal year (FY) 2023 round of the Capital Magnet Fund is now open and the deadline to apply is March 21. The Community Development Financial Institutions (CDFI) Fund plans to award up to $320.6 million to CDFIs and qualified nonprofit housing organizations through the FY 2023 round. Michael Novogradac, CPA, and Novogradac partners Amanda Read, CPA, and Brent Parker, CPA, discuss Capital Magnet Fund basics, an overview of what is new with the FY 2023 application, tips on getting a competitive edge on applications, key deadlines and more.
There are two overarching ways to structure a historic tax credit transaction: the direct investment structure and the pass-through lease structure. How do the structures differ and how can you choose the right structure for your project? Michael Novogradac, CPA, and Novogradac partner John DeJovine, CPA, discuss the pros and cons of each structure for developers and investors, as well as other considerations when choosing a structure.
The affordable housing industry continues to work through the challenges of the COVID-19 pandemic, including for some public housing authorities (PHAs) a return to the office and an opportunity to re-evaluate internal controls. In this week’s podcast, Michael Novogradac, CPA, and Rich Larsen, CPA, discuss four ways PHAs can protect against fraud, with special attention on rent collections, building materials, physical assets and cyber fraud.
Form 8609 is the IRS document that credit allocating agencies give to property owners as evidence that the owner is eligible to claim low-income housing tax credits (LIHTCs). Developers should understand how to complete Form 8609 and its various elections because an improperly completed form can result in the loss of credits on a building-by-building basis. Michael Novogradac, CPA, and Craig Staswick, CPA, provide an overview of Form 8609 and discuss the nuances of particular questions to help developers avoid potentially costly mistakes. As part of the “So You Want to be a LIHTC Developer” series, this episode is a must-listen for all new and experienced LIHTC developers.
The coming year is set up to be a significant one for regulatory guidance and community development tax incentives. In this week’s podcast, Michael Novogradac, CPA, and Peter Lawrence, Novogradac’s director of public policy and government relations, discuss the coming year and look at the key issues for Novogradac’s seven tax incentive working groups. They look at the key emphasis for each group and discuss the value of being part of the working groups. They wrap up with a look at some crosscutting provisions that affect multiple community development tax incentives.
The U.S. Department of Housing and Urban Development (HUD) recently announced it would use 2021 American Community Survey data to determine fiscal year (FY) 2023 income limits, which are used to determine who can live in properties financed with low-income housing tax credits (LIHTCs). In this week’s episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Thomas Stagg, CPA, parse several types of information following the announcement: What stakeholders working in LIHTCs and community development know at this stage in the annual process of determining income limits, what they know they don’t know and also how to best prepare for unknown challenges on the horizon.
The Community Development Financial Institutions (CDFI) Fund is authorized to award up to $5 billion in new markets tax credit (NMTC) allocation authority under the calendar year 2022 round. Michael Novogradac, CPA, and Nicolo Pinoli, CPA, discuss five ways community development entities can strengthen their allocation applications in preparation for the Jan. 26, 2023, deadline for the calendar year 2022 round. They discuss how the NMTC application is structured, scored and reviewed. They also review tips on which application sections to prioritize in terms of scoring and how to avoid common errors.
In this week’s installment of the “So You Want to Be a LIHTC Developer” series, Michael Novogradac, CPA, is joined by Novogradac partner Christina Apostolidis, CPA to discuss keys to successfully meeting tax, audit and investor deadlines for low-income housing tax credit (LIHTC) properties. They discuss the tax and audit requirements, then look at the importance of hiring an experienced tax credit accountant, establishing the timeline and communication protocol, being ready for surprises and how to recap after busy season.
In this installment of the “So You Want to be a LIHTC Developer” series, Michael Novogradac, CPA, is joined by Novogradac partner Blair Kincer and Novogradac principal Kelly Gorman to discuss the annual Novogradac LIHTC operating expenses and income report. They discuss overall impressions from the report, which includes a survey of nearly 125,000 units financed by the low-income housing tax credit (LIHTC), then they look at factors for income in 2021, followed by a look at the increase in property insurance and repairs and maintenance expenses and the drop in payroll expenses in 2021.
In this installment of the “So You Want to Be a LIHTC Developer” series, Michael Novogradac, CPA, and guests Warren Sebra, CPA, discuss final cost certifications, one of the necessary benchmarks for receiving low-income housing tax credit (LIHTC) equity. They discuss cost certification basics, examples of eligible costs, ways to enhance eligible basis and tips and recommended practices for LIHTC developers.
An expected red-wave election for Republicans in the Senate and the House of Representatives ended up being closer than expected, with the Democratic Party retaining control of the Senate and the House of Representatives undecided (although trending toward Republican control). In this week’s podcast, Michael Novogradac, CPA, and Peter Lawrence, Novogradac’s director of public policy and government policy, discuss the results and the repercussions for community development tax incentives. They begin with an overview of the election, the look at potential leadership for each party in each chamber of Congress, including the key tax-writing committees. Then they discuss the effect the election results will have on the lame-duck session of Congress as well as the next two years, before looking at the 2024 election and 2025 expiration date for many tax incentives. Finally, they discuss the Novogradac working groups and how listeners can benefit from being a part of them.
The CDFI Fund late last month announced the calendar year 2021 (CY 2021) new markets tax credit (NMTC) allocation awards, allocating $5 billion in NMTC authority to 107 community development entities (CDEs). In this week’s podcast, Michael Novogradac, CPA, is joined by Brad Elphick, CPA, and Rebecca Darling, CPA, to discuss what we learned from the awards announcement, as well as what CDEs should be doing now that the awards have been announced. After that, they examine what qualified businesses should be doing as they seek below-market-rate financing through the NMTC and wrap up with a look at what to expect for the CY 2022 application round.
Novogradac Tax Credit Tuesday is launching its “So You Want to Be a LIHTC Developer” series, which is meant to be a useful guide to executing a successful low-income housing tax credit development. In this week’s episode, Michael Novogradac, CPA, and guests Jeff Nishita, CPA, and Melissa Chung, CPA, discuss assessing the financial feasibility of a proposed LIHTC development or redevelopment, including location and market considerations. They discuss the benefit of properties in qualified census tracts and difficult development areas, gross rents and utility allowances, as well as LIHTC market studies.
The Inflation Reduction Act has $369 billion in clean energy and renewable energy provisions, including the allowance of certain energy tax credits to be separately transferred, the allowance of qualified tax-exempt entities to elect to get a refund of certain tax credits in lieu of syndicating them and the extension of certain tax credits. The Novogradac Renewable Energy Tax Credit Working Group is working with stakeholder members to submit comments to Treasury and the Internal Revenue Service with respect to the Inflation Reduction Act. Michael Novogradac, CPA, and Novogradac partner Tony Grappone, CPA, discuss key provisions of the Inflation Reduction Act that are drawing the most attention from the renewable energy community and how to provide input on the Novogradac Renewable Energy Tax Credit Working Group’s comment letter.
Over the past decade, public housing authorities (PHAs) have converted 1,558 projects, including 206,181 housing units, under the U.S. Department of Housing and Urban Development’s Rental Assistance Demonstration (RAD) program, representing more than $14.9 billion of in affordable housing. Michael Novogradac, CPA, and Novogradac partner Rich Larsen, CPA, discuss what PHAs and their RAD consultants need to know about RAD accounting issues, compliance issues, financial reporting and other hot topics.
The Internal Revenue Service on Oct. 7 issued final and temporary regulations for the low-income housing tax credit (LIHTC) average-income set-aside test. Michael Novogradac, CPA, and Novogradac’s director of multifamily compliance, Stephanie Naquin, discuss unit designations and the cliff test under the new regulations. They also compare the final regulations with the previously proposed regulations, additional questions raised and applicability dates.
The U.S. Census Bureau recently released 2021 American Community Survey (ACS) data, a key ingredient in determining rent and income limits for affordable housing properties. In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Thomas Stagg, discuss the data release and its effect on 2023 and 2024 rent and income limits. They begin by clarifying difficulties with 2023 income limits, then examine why most counties will see increases beyond the national median figure before turning to the 2021 ACS data and what it means for 2024. After that, they discuss the recent fair market rent figures released by the U.S. Department of Housing and Urban Development (HUD) and how they’ll affect rent and income limits, before turning to the impact of inflation and what to be watching between now and April 2023, when the next rent and income limits are released by HUD.
Year 15 for low-income housing tax credit properties–the end of the initial compliance period and when the investor partner often has received substantially all its tax benefits–is a crucial period for affordable housing properties. In today’s podcast, Michael Novogradac, CPA, and Novogradac partner Kevin Wilson, CPA, discuss the issues that arise and considerations for LIHTC properties at Year 15. They discuss when to start addressing such issues and what to review, then look at the goals of the partners, needs and desires of tenants, physical condition and fiscal condition of the property and the rights of various partners. They wrap up by looking at the options for various partners at Year 15.
The announcement of new markets tax credit (NMTC) allocation awards are expected soon, with the next allocation round opening after that. Well informed and well positioned businesses have a great opportunity to secure NMTC financing, even if they were not originally in a community development entity’s pipeline. Michael Novogradac, CPA, and Novogradac partner Matt Meeker, CPA, discuss how to close an NMTC transaction successfully in the current economic climate. They’ll cover how rising interest rates, growing inflation and supply chain issues are affecting NMTC transactions. They’ll also discuss how to prepare a business for NMTC financing. They’ll close with some common challenges faced in closing NMTC transactions and how to address them.
With the upcoming allocation round of the new markets tax credit (NMTC) looming, now is a great time for qualified active low-income community business (QALICBs) to know the important roles in an NMTC transaction as well as potential ways to leverage the sources in their capital stack. In this week’s Tax Credit Tuesday podcast, the second of a three-part NMTC series, Michael Novogradac, CPA, and Novogradac partner Amanda Read, CPA, identify and define those important roles, including the Community Development Financial Institutions (CDFI) Fund, community development entities (CDEs), accountants, lawyers and more. Later, they define and discuss how QALICBs can leverage different sources of financing such as “soft money,” capital campaign dollars and bank debt to maximize the tax credit financing that they can generate from a CDE.
The new markets tax credit (NMTC) incentive provides $5 billion a year in allocation authority to community development entities (CDEs) to support businesses in low-income communities or those that support low-income people. As a qualified active low-income community business (QALICB), there are standards to meet and competition with which to contend to receive the financing. In this week’s podcast, the 750th of Tax Credit Tuesday and the first of a three-part NMTC series, Michael Novogradac, CPA, and Novogradac partner Nicolo Pinoli, CPA, discuss the standards and provide tips for businesses to be more competitive to receive such financing. They examine the big picture of the incentive and go over the qualifications to be a QALICB before looking at the amount of financing available and the competition to receive NMTC financing. After they, they examine what businesses should consider at the start of transaction in which they’d like to receive NMTC financing, share key points in the timeline and discuss at what CDEs are looking for when they decide which businesses in which to invest.
In this week’s podcast, Michael Novogradac, CPA, and Novogradac partner Brent Parker, CPA, discuss how the Inflation Reduction Act makes it more affordable to include renewable energy and energy efficiency measures in residential rental real estate. They discuss an extension of the Section 45L new energy efficient home credit, qualification updates under the Section 179D deduction and retroactive extension of the renewable energy investment tax credit.
One week ago, President Joe Biden signed The Inflation Reduction Act into law, legislation that includes major clean and renewable energy provisions, as well as raising a net total tax of about $90 billion over 10 years, according to the Joint Committee on Taxation. In this week’s podcast, Michael Novogradac, CPA, is joined by Nat Eng, CPA, and Novogradac’s director of public policy and government relations to talk about the provisions of the bill. After giving and overview, they discuss the significant broad and crosscutting provisions of the legislation before diving into the specifics of the clean and renewable energy provisions, including the affect of the increase in credit totals, the direct-pay provisions, transferability and bonus credits. They also discuss provisions that are related to affordable housing and community development.
The U.S. Department of Treasury July 27 announced new frequently asked questions (FAQ) guidance to increase the use of Coronavirus State and Local Fiscal Recovery Funds (SLFRF) to boost the supply of affordable housing. In today’s podcast, Michael Novogradac, CPA, and Novogradac partner Dirk Wallace, CPA, examine the guidance and implications for those in affordable housing. They begin by discussing the difficulties with the rule issued earlier this year, then discuss the clearly allowable uses and the ability to use recovery funds as long-term loans for affordable housing. Then they look at the pros and cons of different approaches, outstanding questions about intermediary uses and issues with layering recovery funds into a capital stack. They continue by examining reactions by stakeholders in affordable housing, discussing outstanding issues with the guidance and looking at how to best access recovery funds.
Investment in qualified opportunity zones tracked by Novogradac surpassed $30 billion as of June 30, according to a special report published today. In today’s podcast, Michael Novogradac, CPA, and Novogradac partner John Sciarretti, CPA, discuss highlights of the report, as well as other opportunity zones (OZs) issues. They begin by discussing key takeaways from the report, then look at how the economy–with higher interest rates and low unemployment–is affecting the OZ investment space. After that, they talk about some long-term trends that are highlighted in the special report and look at the top cities and top states for planned investment. They wrap up the discussion by talking about OZ extension legislation and decertification regulations.
Affordable housing–specifically that financed by tax-exempt, private-activity bonds and 4% low-income housing tax credits (LIHTCs)–is seeing the effects of rising interest rates and inflation. Those factors have implications on finances, meeting the 50% test and many decisions before and during property development. In today’s podcast, Michael Novogradac, CPA, and Christina Apostolidis, CPA (and lead editor of the new edition of the Novogradac Tax-Exempt Bond Handbook) share how inflation and rising interest rates are affecting various areas of PAB-financed housing, the implications of inflation on the 50% test for developers in construction, how those factors affect potential properties and more. They also discuss the differences between 4% and 9% LIHTCs, how competition affects PAB developments and details in the newly released Novogradac Tax-Exempt Bond Handbook.
On May 5, the three regulatory agencies that oversee the Community Reinvestment Act (CRA) proposed the first significant, interagency overhaul of CRA rules since 1995. Michael Novogradac, CPA, and Novogradac’s director of public policy and government relations, Peter Lawrence, discuss in this week’s Tax Credit Tuesday podcast what the proposed rules are, how they could affect community development investment and lending, and what stakeholders can do to help influence the rulemaking.
The term sheet is where investors outline the principal terms and conditions of their investment in a tax credit transaction. When evaluating a term sheet, it's important for developers to look at a variety of factors and not just tax credit equity pricing. In today's podcast, Michael Novogradac, CPA, and Novogradac partner Thomas Boccia, CPA, share how developers can pursue an optimal balance between tax for equity pricing and other key factors. While the focus of the podcast is historic tax credits and the role of the term sheet, the principles discussed are applicable to all types of developments seeking to raise tax credit equity.
The COVID-19 pandemic has killed more than 1 million Americans, while 87 million Americans have tested positive for the virus–creating an event that has affected virtually every aspect of life. For owners, operators, investors and tenants in affordable housing, the pandemic created both a health care crisis and a potential financial crisis that required new and different approaches. Novogradac examines those issues in a new report, “Resilience and Responsiveness: How LIHTC Properties Weathered the COVID-19 Pandemic and What to Expect in the Future.” In today’s podcast, Michael Novogradac, CPA, and Novogradac partner Blair Kincer, the lead author of the report, discuss the findings, including how the pandemic affected occupancy and rental receipt rates, whether stimulus payments are a baked-in part of the federal response to future pandemics, takeaways for property owners and underwriters and the technological adaptations made at low-income housing tax credit properties during the pandemic.
How have capitalization rates changed over the past 12 months of rising inflation? Michael Novogradac, CPA, and Novogradac partner Lindsey Sutton discuss the effects of high inflation on observed market capitalization rates, as well as long-term debt financing.
Michael Novogradac, CPA, and Novogradac partner Frank Buss, CPA, help listeners answer three key questions regarding the new lease guidance, ASC 842: 1. What are the new operating lease accounting requirements? 2. How will the new standard affect various tax credit property partnerships? 3. What do you need to know about complying with the new lease guidance?
More than 130 nations are working toward an agreement to ensure that multinational corporations pay a minimum level of income taxes. The second of two “pillars” in this framework would ensure that the world’s largest and most profitable companies are taxed in each jurisdiction in which they do business at an effective rate of 15%. Since any rate less than 15% would make the corporation subject to a top-up tax to reach that level, there are concerns about how U.S. general business credits–including the low-income housing tax credit (LIHTC), historic tax credit (HTC), new markets tax credit (NMTC) and renewable energy tax credits (RETCs)–would contribute to lowering effective tax rates below 15%. In this podcast, Michael Novogradac, CPA, and Novogradac partner Brad Elphick, CPA, discuss the global minimum tax and issues associated with it concerning tax credit equity. They discuss how and when potential guidance would affect tax equity investments, potential approaches to mitigate the damage to tax equity investments, how the equity investment exclusion approach would work, how the proportional amortization and HLBV approaches fit, the joint venture rule and portfolio shareholdings. The conclude with the next steps that stakeholders in community development tax incentives should take.
The vast majority of business and nonprofits that receive new markets tax credit (NMTC) financing serve low-income communities that are physically located in a low-income census tract. However, there’s another underutilized method for businesses and nonprofits to qualify for NMTC financing that is not geography based. It’s called the targeted populations approach. Michael Novogradac, CPA, and Novogradac partner Bryan Hung, CPA, discuss the potential benefits of the targeted populations method, how to meet the targeted populations criteria, compliance considerations and more.
The definition of qualified rehabilitation expenditures (QREs) is important not just for purposes of satisfying the substantial rehabilitation test. The amount of QREs determines the amount of historic tax credits a project is eligible for, meaning every additional dollar of QREs results in 20 cents more in tax credits. In this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Tom Fantin, CPA, discuss commonly overlooked QREs and costs that some developers may assume are QREs but are not.
The historic tax credit (HTC) substantial rehabilitation test may seem simple on the surface, but there are some important nuances that even experienced developers may not be fully aware of. In this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Roy Chou, CPA, discuss what developers need to know about meeting the substantial rehabilitation test and planning their qualified rehabilitation expenditures so they can optimize the amount of HTC equity they can raise.
With much competition for 9% low-income housing tax credits (LIHTCs), more developers are turning to 4% LIHTCs to fund affordable housing–at the very time that competition for 4% LIHTCs (which are available to properties financed with tax-exempt private-activity bonds) is increasing. In this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Tabitha Jones, CPA, discuss the key differences between 4% LIHTC-financed transactions and developments financed by 9% LIHTCs. They also discuss various pitfalls that those new to the 4% LIHTC should be careful to avoid, including problems with bond arbitrage, Form 8709 and the 50% financed-by test. They wrap up with information on the 9% LIHTC that developers unaccustomed to that world should know.
Many solar energy developers do early stage work to get a property ready for construction, then they sell the property to a developer who takes control, raises equity to fund the development and begins construction. However, more early stage solar developers are considering the option of maintaining control of the property and handling the construction, including receiving funding through equity from investment tax credits. In this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Rob Bryant, CPA, discuss the options and considerations for such developers. They examine the typical life cycle for a solar property and then look at the issues that developers should address when considering a long-term hold of the property. After that, they look at typical financing options, as well as tax and equity structuring issues for a developer who maintains control of a solar property as well as tools developers should consider while making a decision.
The U.S. Department of Housing and Urban Development (HUD) last week posted income limits for fiscal year 2022 to determine eligibility for HUD-assisted programs as well as for low-income housing tax credit (LIHTC) and tax-exempt bond financed properties. The national median income was a 12.5% increase over 2021, but HUD set the cap on increases at 11.89%. In this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Thomas Stagg, CPA, discuss the income limits, including the major storylines. They also examine how inflation affects income limits and how it will impact future income limits, then provide insight into implementing new rent and income limits and also discuss how issues with the 2020 American Community Survey will affect income limits. They conclude with some suggestions for how HUD could approach those issues and what LIHTC stakeholders should be considering.
Unlike other community development incentives that typically have seasoned developers and investors, renewable energy transactions often have developers and/or investors who are new to tax incentives. It’s critically important that investors and developers understand the book accounting or generally accepted accounting principles (GAAP) and implications of their proposed and existing investments. In this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac partner Alvin Lee, CPA, discuss how an understanding of these issues can help a developer of a renewable energy project raise the optimum amount of cash for equity and help both the developer and investor avoid any unwanted accounting surprises.
The introduction of the Opportunity Zones Transparency, Extension and Improvement Act in both houses of Congress last week brought attention to the opportunity zones (OZ) incentive. In this week’s episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac partner Brent Parker, CPA, discuss the legislation and preview next week’s Novogradac 2022 Spring Opportunity Zones Conference in Long Beach, California. They discuss the provisions of the bill and share what experts will provide insight at the conference. They also discuss the preconference workshops and highlights of the agenda, as well as a look at the Novogradac opportunity zones investment report. The discussion also includes how businesses can benefit from being part of the conference and a crucial upcoming deadline for qualified opportunity funds.
Like with all of society, the COVID-19 pandemic had a dramatic effect on tenants and operations at low-income housing tax credit (LIHTC) properties. In this week’s episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac partner Blair Kincer, MAI, CRE, discuss the various ways the pandemic and its economic repercussions affected LIHTC properties. They discuss the overall impact, then look at how occupancy levels were affected, as well as what happened to properties that came online during the pandemic. They then discuss the ability to achieve maximum rents as we emerge from the pandemic, how operating expenses changed during the pandemic, what changes are being made while underwriting proposed LIHTC developments and how underwriters are using the pandemic years to estimate future LIHTC expenditures. They wrap up with a comparison of the effects of the Great Recession to the financial issues coming out of the COVID-19 pandemic.
The United States is experiencing the highest rate of inflation since the low-income housing tax credit (LIHTC) became a permanent part of the tax code and rising costs have a combination of effects on operators and tenants of LIHTC properties. In this week’s episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac partner Blair Kincer, MAI, CRE, discuss the ways inflation can affect LIHTC development costs, operating expenses, financing and operating revenue. They also discuss how utility expenses are affected and compare this scenario to the Great Recession.
Understanding the many requirements and nuances of the low-income housing tax credit (LIHTC) can mean the difference between delivering tax credits to investors on time or not. In this week’s episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac partner Tonya Johnson, CPA, discuss common pitfalls and risk areas that first-time LIHTC developers should be aware of so they can avoid them. They discuss tax credit deadlines, tax credit construction-related issues and lease-up and stabilization issues.
Qualified opportunity funds (QOFs) tracked by Novogradac report an equity investment of $24.40 billion at the end of 2021, a jump of $6.88 billion in the final six months of the year, according to the Novogradac Opportunity Zones Investment Report: Data Through Dec. 31, 2021. In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner John Sciarretti, CPA, discuss data from the report and the implications for the opportunity zones incentive. They begin with an overview of the information, then discuss the impact of the expiration of the five-year benefit on QOF investment, before looking at the types of investments being made and the top states and cities for planned investment. They wrap up with a look at the ranges of QOF sizes and an explanation of the services to help those involved in the OZ incentive.
The federal historic tax credit (HTC) has led to more than $181 billion in investment over its 40 years, including $7.3 billion in investment in 2020. However, using the incentive to help fund the renovation of historic properties can be difficult to understand. In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Gregory Clements, CPA, examine the basics of the HTC incentive. They discuss how the tax credit is used, what makes a building historic and how to determine whether a rehabilitation will be eligible for HTCs. They then explain details of working with state and federal governmental agencies, how the National Parks Service application system works, who should be on your HTC team and the different transaction structures. They wrap up with a look at services that assist those involved in HTC transactions.
The new markets tax credit (NMTC) is one of the most effective community development financing tools available. Learn how to get started using the NMTC in this week’s episode of Tax Credit Tuesday, with Michael Novogradac, CPA, and Novogradac partner Rebecca Darling, CPA. They discuss the two central participants in NMTC financing: the qualified active low-income community business (QALICB) and the community development entity (CDE). Learn what kind of businesses qualify as a QALICB and what kind of investor/lender entities are good candidates to become CDEs.
Some people assume that IRS Form 8823, Low-Income Housing Credit Agencies Report of Noncompliance or Building Disposition, automatically means credit loss or recapture of low-income housing tax credits (LIHTCs). This week’s Tax Credit Tuesday podcast with Michael Novogradac, CPA, and Novogradac’s director of multifamily property compliance, Stephanie Naquin, dispels some of the fears and misconceptions about Form 8823, and more importantly, shares information on how to avoid receiving a Form 8823. For buildings that do receive a Form 8823, this podcast discusses ways to avoid or minimize the loss of future credits or the recapture or previously claimed.
The Emerging Issues Task Force of the Financial Accounting Standards Board is considering changing the generally accepted accounting practices for tax credit investments beyond the low-income housing tax credit (LIHTC), a move that could alter the landscape for investors. Michael Novogradac, CPA, and partner Brad Elphick, CPA, discuss the state of play for potential changes to the proportional amortization method for tax credits other than the LIHTC. They discuss 2014 EITF guidance for the LIHTC and how it affected the affordable housing world, then they look at the current status of the efforts to broaden the use of the proportional amortization method to other tax credits. After that, they discuss the criteria needed to use proportional amortization in LIHTC properties, diving into specifics. They wrap up by discussing possible timelines for guidance and details of a Novogradac GAAP Accounting for Tax Credit Working Group.
The year 2022 could be transformational for public housing authorities (PHAs) in terms of development opportunities and challenges. Michael Novogradac, CPA, and Novogradac partner Rich Larsen, CPA, discuss hot topics for PHAs and strategies to help them address their operating needs, as well as their capital needs. They’ll discuss the current status of federal funding for PHAs and why 2022 is a critical window for PHAS, in terms of affordable housing development and preservation. They discuss the Rental Assistance Demonstration (RAD) program, considerations for low-income housing tax credit (LIHTC) properties controlled by PHAs as they reach the end of their initial 15-year compliance period. They conclude with action items PHAs can take this year.
Sen. Joe Manchin, D-West Virginia, announced Sunday that he wouldn’t vote for the Build Back Better Act–a crucial blow to the signature legislation of President Joe Biden’s administration, a bill that included major green energy and affordable housing provisions. In today’s podcast, Michael Novogradac, CPA, is joined by Novogradac director of public policy and government relations Peter Lawrence and Tony Grappone, a partner at Novogradac, to discuss what’s next for Congress and the reaction of those in the clean energy world to Manchin’s announcement. They discuss how Congress got to this point, what legislative vehicles could involve tax extenders, which community development tax incentives are expiring, how the green energy world is reacting and whether some tax incentives could be enhanced as well as expanded. They also discuss the role of the child tax credit in the BBBA and what provisions might be in future Build Back Better legislation.
Provisions in the Build Back Better Act (BBBA) could have a major impact on the affordable housing world. Michael Novogradac, CPA, is joined by Novogradac director of public policy and government relations Peter Lawrence and Dirk Wallace, CPA, a partner at Novogradac, to discuss the legislation and what developers and other affordable housing stakeholders should be doing to prepare for potential legislative changes. They discuss the provisions concerning the 9% and 4% low-income housing tax credit, the effect on tax credit equity pricing, how states will handle the changes and what developers should be doing to prepare. They also discuss the right of first refusal and qualified contract provisions in the BBBA, a provision to encourage solar power for affordable housing, the introduction of the neighborhood homes tax credit and a large increase in funding for the U.S. Department of Housing and Urban Development.
There’s a “new normal” for low-income housing tax credit (LIHTC) compliance monitoring. Certain LIHTC compliance requirements in place today are different from requirements that were in place before the pandemic. Michael Novogradac, CPA, and Novogradac’s director of compliance, Stephanie Naquin, discuss how the new compliance regime affects state allocating agencies, property owners and managers, as well as investors and syndicators. They cover tenant file reviews, physical inspections, implementation of a 15-day reasonable notice period and more.
Federal tax legislation in 2017 limited the deductibility of state and local taxes for individuals to $10,000 per year–but subsequent IRS guidance and changes in state laws have provide an opportunity for taxpayers to select an alternative tax regime for savings. In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, Novogradac partner Tom Boman, CPA and Novogradac principal Reza Karim, CPA, discuss the options available to taxpayers. They present an overview of IRS Notice 2020-75, examine approaches by different states, show how those approaches work, explain how taxpayers qualify for options and look at other issues connected to state and local taxes.
Learn about the 2022 qualified census tract (QCT) and difficult development area (DDA) designations and what they mean for low-income housing tax credit developers and properties. In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, Novogradac partner Jim Kroger, CPA, and Novogradac manager Sun-Ae Woo, CPA, discuss observations about the 2022 designations and how the COVID-19 pandemic may have affected those designations. They also discuss action items for developers depending on how the 2022 designation will affect their properties.
Operating expenses for low-income housing tax credit-financed properties faced significant changes due to the COVID-19 pandemic of 2020 and the Novogradac Multifamily Rental Housing Operating Expense Report examines those trends. Michael Novogradac, CPA, discusses the report and its implications with Blair Kincer, MAI, CRE (LEED). They discuss the overall trends in operating expenses for 2020, look at what expense categories were most affected by the pandemic and the look at how listeners can use the report for evaluating portfolios or individual properties.
Opportunity zones (OZ) rules are straightforward and manageable for those who understand them and who work with them regularly, but those who are inexperienced in OZs may be unaware of potential pitfalls from which it can be difficult or nearly impossible to recover. Michael Novogradac, CPA, and Novogradac’s managing partner, discusses with Novogradac partner John Sciarretti, CPA, how newcomers can navigate basic OZ issues. They start with an overview of OZ financing, then discuss how to start a qualified opportunity fund and how to avoid compliance pitfalls.
The framework of President Joe Biden’s Build Back Better plan, released last week, would provide about $550 billion for green energy investment. In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Tony Grappone, CPA, discuss the implications of that potential legislation for renewable energy developers. They discuss what questions developers are asking about the current framework and what they should be doing now, supply-chain issues that have arisen since the COVID-19 pandemic and possibilities in repowering existing renewable energy properties. They also discuss the role of storage and how developers should view that option.
If enacted as proposed, the Neighborhood Homes Tax Credit would make about $2 billion in annual tax credit authority available nationwide. In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac housing policy consultant Mark Shelburne discuss considerations for state allocating agencies as they prepare for potential enactment of the Neighborhood Homes Tax Credit. They discuss Neighborhood Homes Tax Credit basics, how the incentive compares and contrasts with the low-income housing tax credit, issues for allocating agencies to consider about administration and next steps for allocating agencies, developers and investors.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and George Barlow, CPA, discuss how developers who use federal historic tax credit (HTC) equity in their transactions should address potential legislative changes in the HTC. They look at how this is similar to the period of uncertainty about IRC Section 50(d) income, how effective dates come into play and what to specifically address in negotiations for current or future transactions.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Thomas Stagg, CPA, discuss how a major U.S. Census Bureau announcement will affect income and rent limits for many affordable housing properties in 2023. They discuss how these changes will affect low-income housing tax credit properties and what property owners should do about these changes.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Jeff Nishita, CPA, discuss how developers and investors who are new to the low-income housing tax credit (LIHTC) can use the incentive finance affordable housing for low-income families and individuals. They discuss 4% and 9% LIHTCs, how LIHTC developers are compensated for their work and for the risks they assume, general tips for first-time LIHTC developers and action items for LIHTC developers to get started.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partners Amanda Read, CPA, and Brent Parker, CPA, discuss the 2021 Capital Magnet Fund (CMF) award round, which opened recently and has several approaching deadlines. They discuss the $380 million CMF round, including how it differs from previous rounds. They then talk about who is eligible to participate in the Capital Magnet Fund, next steps for interested applicants and how to make an application more competitive.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Nicolo Pinoli, CPA, discuss key issues that developers and investors of low-income housing tax credit (LIHTC) properties face at Year 15, a critical juncture the marks the end of the 15-year compliance period LIHTC-financed properties. They discuss Year 15 options, considerations and potential hurdles.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Tom Boccia, CPA, discuss the historic tax credit equity market, including tax credit equity pricing, the types of transactions that are popular and more. They also highlight a few of the steps that developers can take to enhance the financial feasibility of their property. As part of that segment, they discuss the transition rule for a one-year credit and the HTC-GO Act.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partners Brad Elphick, CPA, and Rebecca Darling, CPA, discuss highlights from the calendar-year 2020 new markets tax credit (NMTC) allocation round. They also discuss what 2020 NMTC allocation awardees and those who did not receive an award should be doing to prepare for the 2021 allocation round. They share tips for businesses and nonprofits for accessing NMTC financing and close with an analysis of the implications of the 2020 awards round for the 2021 NMTC application round.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Nat Eng, CPA, discuss opportunities for individual investors in solar developments. They discuss reasons for an increased interest in individual solar investment, limitations for individual investors in solar, as well as case studies of individual solar investor types. They close with suggested next steps for individuals who want to learn more about investing in solar.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, Novogradac partner Jim Kroger, CPA, and Novogradac principal Melissa Chung, CPA, discuss the 50% test for affordable rental housing properties financed by private activity bond (PABs) and 4% low-income housing tax credits (LIHTCs). They discuss how the 50% test works, potential complications, what developers can do to avoid failing the test, when to check in and options if failure occurs. They also discuss federal efforts to reduce the 50% test and the implications of that change.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac compliance experts Thomas Stagg, CPA, and Stephanie Naquin discuss how LIHTC property owners and managers can prepare for Oct. 1, when temporary compliance relief expires. They outline how to plan for four areas of expiring compliance relief: annual income recertifications, physical inspections and tenant file reviews, reopening of shared spaces and common areas; and the correction relief period.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner John Sciarretti, CPA, discuss highlights from the Novogradac Opportunity Zones Investment Report: Data Through June 30, 2021. In addition to top-level fundraising amounts, they discuss the types of businesses that are receiving opportunity zones (OZ) investment, geographic placement of OZ investments, average fundraising levels of qualified opportunity funds (QOFs) and upcoming OZ deadlines that could affect QOF fundraising. They also discuss corrections and correcting amendments to final OZ regulations.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, Novogradac partner Nicolo Pinoli, CPA, and Bob Ibanez, a Novogradac senior public policy manager discuss the upcoming calendar-year 2021 new markets tax credit (NMTC) application round, including the timing of the 2020 awards and the opening of the next round. They also discuss community development entity (CDE) eligibility issues, the importance of lining up leverage debt sources early, common issues with the investment pipeline and best practices for communicating a track record, including the role of disadvantaged businesses and communities.
In the 700th weekly Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Dirk Wallace, CPA, discuss the proposed middle-income housing tax credit (MIHTC), including the incentive’s purpose, how it compares to the low-income tax credit in size and mechanics, where it would work best and what developers should be considering now to be prepared if the proposal becomes law. They also discuss what stakeholders are saying about the MIHTC, who the likely investors would be and how listeners can participate in helping shape the MIHTC, both in terms of statutory and regulatory moves.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Dirk Wallace, CPA, discuss the proposed neighborhood homes tax credit (NHTC), including what needs the incentive would meet, where it would likely be used and how it would be allocated. They also discuss recapture regulations, how states might adjust regulations to meet their needs and who would be the likely participants in the incentive. They conclude with a discussion of how renovations of homes could be covered by the credit, including financial sources to cover gaps, and what the Neighborhood Homes Tax Credit Working Group will address.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac principal Erin Neff, CPA, discuss two common questions asked by Novogradac clients who are thinking about applying for new markets tax credit allocation (NMTC) authority: 1. Are there particular types of borrowers that are underserved by community development entities? 2. How can a NMTC applicant can improve the chances of getting a larger tax credit award? Michael and Erin discuss the answer that connects these two questions, namely using a portion of one’s allocation to make small-dollar loans, which are principally done through loan pools. Learn about various tax and compliance considerations related to loan pools, as well as best practices.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, discuss the state of various community development tax incentives with Peter Lawrence, Novogradac’s director of public policy and government relations. Lawrence shares his work history, then examines the prospects for infrastructure legislation, as well as where the corporate tax rate and capital gains tax rate might land. Then they look at the chances of a change in the 50% private activity bond test, as well as the chance for passage of bills that include permanency for the new markets tax credit, expansion and extension of renewable energy tax incentives and the extension or phasing out of the opportunity zones incentive. They conclude with a discussion of how advocates can encourage expansion of community development incentives.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, Novogradac partner Jim Kroger, CPA, and Novogradac’s Melissa Chung, CPA, discuss the increasing competition for private activity bonds (PABs) for affordable housing, which pair with 4% low-income housing tax credits to provide equity for properties. They discuss why and when the increase in use of PABs started, factors that have dramatically increased competition in California, approaches taken by states in light of the increased demand, what developers should be doing to improve their ability to compete, Novogradac services to assist developers and tips to be more effective.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Brent Parker, CPA, discuss what qualified opportunity fund managers and investors need to know about 2021 opportunity zones “invest-by” deadlines and measurement dates, COVID-19 relief and more.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, is joined by Mark Shelburne, a housing policy consultant at Novogradac, to discuss trends and insights into state low-income housing tax credit (LIHTC) qualified allocation plans (QAPs). They discuss the requirements for QAPs, how QAPs are adopted and how developers should view the documents. They also address the role of QAPs in properties financed with private-activity bonds and 4% LIHTCs, as well as what developers should know about influencing the next QAP for their state.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, is joined by his partner Michael Kressig, CPA, to explore the topic of state tax credits, which are often a critical part of the capital stack that can make affordable housing, community development and historic preservation developments financially feasible. They discuss the structural features associated with state tax credits, how tax credits vary across state programs and the critical implications those differences have on the upfront value of the tax credits and structuring options.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, is joined by his partner Jeff Nishita to discuss how maximize low-income housing tax credit (LIHTC) equity. They discuss the potential to maximize LIHTC equity, how to increase and accelerate tax credits, how to increase and accelerate tax losses, how to identify investor goals and consider how a development can help investors achieve those goals. They also discuss the importance of correctly timing the arrival of equity.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, is joined by his partner Blair Kincer and Bob Ibanez, a senior manager in Novogradac’s public policy group, to discuss community outcomes and their significance in determining new markets tax credit (NMTC) awards. They examine how community outcomes have historically been viewed in the NMTC world and look at what might be coming. They also discuss how to measure community outcomes, the importance of documenting the impact of previous NMTC investments and how being able to demonstrate social impact is growing in importance to attract investors in all community development incentives.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, is joined by his partner Rich Larsen, CPA, to discuss the U.S. Department of Housing and Urban Development’s (HUD’s) recent guidance on Faircloth-to-Rental Assistance Demonstration (RAD) conversions. They examine how public housing authorities (PHAs) got so far below their public housing cap, what the new guidance allows, steps that PHAs and developers should consider, how a Faircloth-to-RAD conversion works and which PHAs have the most capacity.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, is joined by his partner Tom Boccia, CPA, to discuss the historic tax credit (HTC) equity market, including the impact of shifting from a one- to a five-year credit, how the COVID-19 pandemic affected pricing and the importance of geography and asset classes. They also discuss the repercussions of the drafting error on provisions concerning qualified improvement property in the 2017 tax reform legislation and the subsequent technical correction, then examine the Historic Tax Credit Growth and Opportunity (HTC-GO) Act, looking at what provisions would have the biggest impact.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, is joined by his partners Brad Elphick, CPA, and Rebecca Darling, CPA, to discuss steps that community development entities (CDEs) and qualified businesses should be taking now to prepare for the next new markets tax credit (NMTC) application round. They discuss the timing of the next NMTC awards and application round, where CDEs should start preparing, keys to building a successful application, how Novogradac can help CDEs with their application, when businesses should begin discussing NMTC financing with CDEs and how businesses can qualify for the financing.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, is joined by Novogradac partner Tom Boman, CPA, and Novogradac principal Reza Karim, CPA, to discuss best practices for renewable energy property owners, investors, developers and operators to maximize the benefits of state and local tax incentives and exclusions. They’ll discuss various considerations, when project sponsors should begin considering state and local incentives, the magnitude of potential savings, tax and consulting services for owners and common mistakes to avoid.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, Peter Lawrence, Novogradac’s director of public policy and government relations and Karen Destorel, Novogradac’s tax policy research associate, discuss the Affordable Housing Credit Improvement Act (AHCIA) of 2021. They focus on the provisions in the bill, looking at the history of the legislation, as well as provisions directed at production/preservation, financial feasibility and affordable housing rental policy.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Thomas Stagg, CPA, discuss HUD income limits for fiscal year 2021. They discuss income limits basics, year-over-year income limits changes and factors that can affect future income limits, including the effects of the pandemic.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Amanda Read, CPA, discuss community development financial institutions (CDFIs) and the Capital Magnet Fund (CMF), including explanations of each. They discuss how to apply for the CMF, how the CMF interacts with tax incentives, what CMF applicants should be doing now, what makes a successful CMF application and how previous applicants should look at their experience. They also discuss the interaction between CDFIs and the Federal Home Loan Bank.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Brad Elphick, CPA, discuss equity pricing for new markets tax credits (NMTCs), what factors are involved and what businesses and community development entities (CDEs) should do to address issues that arise out of lower NMTC equity pricing. They also compare the prices to those during the Great Recession, discuss the impact of the five-year extension of the NMTC and look at the importance of knowing the “language” of NMTCs.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Craig Staswick, CPA, discuss cost segregation studies, including why they have become more popular in recent years, when and why low-income housing tax credit (LIHTC) stakeholders should start considering the studies, how cost segregation studies can accelerate depreciation deductions and what’s involved in the studies. They also discuss the future of the studies, how cost segregation studies apply to non-LIHTC properties and more.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Brad Weinberg, MAI, CVA, CRE, discuss rent reasonableness determinations and rent comparability studies, including how public housing authorities (PHAs) can benefit from them, what considerations go into rent reasonableness determinations and how the COVID-19 pandemic has affected rental trends in the United States. They also discuss how a PHA should evaluate a service provider, the intersection of Section 8 and low-income housing tax credit (LIHTC) properties in rent reasonableness determinations and more.
In this week’s Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Christina Apostolidis, CPA, discuss several legislative and regulatory tax changes that took effect over the past few years of which owners and investors in low-income housing tax credit (LIHTC) and tax-exempt bond financed properties need to be aware. They discuss the consequences of those changes, as well as strategic planning opportunities presented.
The use of 4% low-income housing tax credits and private activity bonds for the construction and rehabilitation of affordable housing has increased steadily since 2016, in spite of the adverse effects of the 2017 tax bill and other financing challenges. The recent enactment of the 4% LIHTC minimum will likely create a surge in this financing activity. Learn about which developments qualify for the 4% LIHTC minimum, how the LIHTC floor is affecting equity pricing and more in this week’s Novogradac Tax Credit Tuesday podcast with Michael Novogradac, CPA, and guest Novogradac partner Dirk Wallace, CPA.
Under the Rental Assistance Demonstration (RAD) program, public housing authorities (PHAs) can purchase, resyndicate, develop and manage affordable housing properties. These opportunities are part of the reason why an increasing number of PHAs are creating low-income housing tax credit (LIHTC) entities and other affiliate entities. In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, and Novogradac partner Rich Larsen, CPA, discuss what PHAs should know about setting up affiliate entities, from structuring options to important LIHTC regulations.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses renewable energy with Novogradac renewable energy incentive expert, Tony Grappone, CPA. They discuss the state of the renewable energy community including debt and equity updates. Next, they talk about renewable energy tax credit transaction structure trends and the advantages of each structure. They wrap up with an overview of key renewable energy tax incentives that were extended in December, extended investment tax credit (ITC) and production tax credit (PTC) deadlines and the GREEN Act.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the $25 billion Emergency Rental Assistance program with Novogradac multifamily compliance program experts, Mark Shelburne and Stephanie Naquin. They discuss:The genesis of the federal Emergency Rental Assistance programThe role of Treasury in getting the dollars out to state and local agenciesThe role of state and local agencies in distributing the fundsHow property owners can apply on behalf of tenantsWhich rental expenses qualify for reimbursement
In this week’s Tax Credit Tuesday podcast on social impact, Michael J. Novogradac, CPA, is joined by Amy Hook, Novogradac’s chief social impact officer. They discuss why social impact matters and how organizations can rethink and measure their effects on the planet and the people who live on it. They dive into specific social impact opportunities and considerations for those who work in affordable housing, community development, historic preservation and renewable energy.
In this week’s Tax Credit Tuesday podcast on opportunity zones updates, Michael J. Novogradac, CPA, is joined by John Sciarretti, partner in Novogradac’s Dover, Ohio, office. They start by discussing IRS guidance concerning several deadlines for qualified opportunity funds and other opportunity zones (OZ) stakeholders. Next, they talk about what stakeholders should know about the guidance as well as areas that need further clarification. Then, they share insight into what to expect from the Biden administration concerning opportunity zones, and they discuss a special Novogradac report that will be releasing soon on opportunity funds. They wrap up with discussion of the Novogradac Opportunity Zones Conference in April.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, is joined by Megan Murphy, a principal in Novogradac’s Philadelphia metro office. They discuss additional funding for the Paycheck Protection Program (PPP) that was authorized by Congress. They share insight about who is eligible for a PPP loan, what expenses are eligible and how loan amounts are calculated. Next, they discuss PPP loan forgiveness and what small businesses should take into consideration when preparing a PPP loan application. They wrap up with discussion of tax considerations for small businesses that receive a PPP loan.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, is joined by Nicolo Pinoli, CPA, and partner in Novogradac’s Portland, Oregon, office. They start by discussing the recent five-year extension of the new markets tax credit, and how various factors can affect NMTC investment, such as Biden administration priorities and Community Reinvestment Act regulations. Next, they share insight into how industry participants are responding to the COVID-19 pandemic challenges. They wrap up with discussion of what community development entities can be doing now to prepare for the 2020 new markets tax credit awards announcement expected this summer and the opening of the 2021 allocation round.
On this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, is joined by Rich Larsen, CPA, a partner in Novogradac’s Toms River, New Jersey, office. They discuss how public housing authorities (PHAs) are being affected by the COVID-19 pandemic including challenges, innovations and how they’re handling inspections and other compliance issues. Then, they talk about the CDC’s rental eviction moratorium and how that has affected property owners and tenants. Next, they share insight into concerns affordable housing advocates have about the eviction moratorium. They then discuss issues PHAs will face in 2021 and what PHAs can do now to prepare for the years ahead. Next, they talk about trends and changes that are particular to 2020, and what PHAs should consider when looking into RAD. They wrap up with insight into the 2021 edition of the RAD Handbook, the upcoming Novogradac 2021 RAD Public Housing Virtual Conference and the January public housing authorities issue of the Novogradac Journal of Tax Credits.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, and Peter Lawrence, director of public policy and government relations at Novogradac, discuss the $1.4 trillion omnibus fiscal year 2021 spending bill, which includes a permanent minimum 4% low-income housing tax credit (LIHTC) rate, a five-year extension of the new markets tax credit (NMTC) and an extension of phase-down provisions for the renewable energy investment tax credit (ITC) and production tax credit (PTC). They also discuss the $900 billion COVID-19 relief bill, which includes $25 billion in emergency rental assistance and an extension of the Center for Disease Control’s federal eviction moratorium through Jan. 31, 2021. The year-end omnibus legislation will permanently establish the 4% minimum LIHTC rate and include a $1.1 billion allocation of disaster LIHTCs for 11 states and Puerto Rico. The legislation will extend the NMTC–which is currently set to expire with the calendar-year 2020 round–through the calendar-year 2025 round. The PTC will be extended one year at a 40% rate and the ITC will have two extra years as a 26% credit. The COVID-19 relief legislation also includes a reopening of the Paycheck Protection Program, $600 in stimulus checks to individuals and $300 in weekly federal unemployment benefits.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, and Peter Lawrence, director of public policy and government relations at Novogradac, discuss year-end legislation in Congress, including a continuing resolution to fund the government into 2021 and a potential COVID-19 relief bill. They start by discussing the chances for provisions to extend or expand community development tax incentives to be included in continuing resolution legislation. Then, they talk about highlights of the latest proposed COVID-19 relief bill and the chances of community development and affordable housing provisions being attached to it. Next, they share insight into President-elect Biden’s nominations to lead the Treasury and U.S. Department of Housing and Urban Development. They wrap up by discussing what to look out for in the weeks leading up to inauguration day for President-elect Joe Biden.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA discusses what you need to know about national and state median income estimates for 2021 and 2022. He is joined by Thomas Stagg, CPA, and partner in Novogradac’s metro Seattle office. They start by sharing background information on median income and income limits, how they’re calculated and what they’re used for. Then, they talk about estimates for how median incomes and income limits will change in 2021 and 2022, and if there will be any significant changes because of the pandemic. Next, they discuss how median incomes and income limits might change in 2023. They also cover how changes in median income and income limits due to the pandemic and related recession compare to changes caused by the Great Recession in 2008. Next, they discuss what developers, owners and investors should be doing to prepare for the potential changes in median incomes and income limits. They wrap up by discussing the gross rent floor and net rents and how they interact.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA talks about trends related to multifamily rental housing property valuation, affordable housing needs and more. He is joined by Blair Kincer, MAI, CRE, a partner in Novogradac’s Washington, D.C., office. They start by discussing how affordable multifamily housing valuation has looked in 2020 and whether the pandemic is affecting where people want to, or can, live. Then, Blair shares insight from a recent Notes from Novogradac blog post on how market-rate rents are faring compared to affordable housing rents. Next, they talk about state-led efforts to address affordable housing challenges during the pandemic. They wrap up with discussion of the Novogradac 2020 Multifamily Rental Housing Operating Expense Report and what affordable housing property investors, developers and managers can do to prepare meet affordable housing needs in the year ahead.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac discusses the state of the low-income housing tax credit, including the effects of the COVID-19 pandemic. He is joined by Jeff Nishita, CPA, a partner in Novogradac’s San Francisco office. They look back on 2020 and look ahead to 2021 for the LIHTC, including the pandemic, Community Reinvestment Act reform, appetite for the credit and more. They also talk about what the LIHTC Working Group did in 2020 and what it will be focused on for 2021. They wrap up with a look ahead to the Novogradac 2020 Tax Credit Housing Finance Virtual Conference, including session topics and two keynote speakers.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac discusses proposed regulations from the IRS concerning the average income test for low-income housing tax credit properties. He is joined by Thomas Stagg, CPA and partner in Novogradac’s Bellevue, Wash., office; Stephanie Naquin, who is a multifamily compliance consultant, based in Novogradac’s Austin, Texas, office; and Mark Shelburne, a Novogradac housing policy consultant who is based in Raleigh, N.C. The four of them discuss the average income set-aside, specific changes the IRS is proposing for the average-income test and how those changes might impact developments that use the average income structure. They wrap up by sharing what property owners should be doing now and considerations for the proposed regulation.
In this week’s continuation of the special 2020 Election Results Edition of Tax Credit Tuesday, Michael J. Novogradac, CPA, and Peter Lawrence, director of public policy and government relations at Novogradac, discuss additional observations from the results of the 2020 presidential election, as well as key results in House and Senate races. They talk about how President-elect Biden’s cabinet appointments might be affected by a Republican or Democrat controlled Senate. Then, they share insight into some key legislative proposals that are on the table during the lame-duck session, and which ones could be used as a vehicle for community development incentives. They wrap up by discussing Biden’s legislative community development priorities, and what a Biden presidency could mean for Community Reinvestment Act reform and the future of Fannie Mae and Freddie Mac.
In this week’s special 2020 Election Results Edition of Tax Credit Tuesday, Michael J. Novogradac, CPA, and Peter Lawrence, director of public policy and government relations at Novogradac, discuss what we know so far about the 2020 election, including the race between President Donald Trump and former Vice President Joe Biden to 270 electoral votes for the presidency, and insight on some key races for seats in the U.S. House and Senate. They also talk about some of the surprises of the 2020 election results. They wrap up by talking about how the election results might affect community development legislation in the upcoming lame duck session.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, provides an update on COVID-19 stimulus negotiations, and shares highlights from the Novogradac 2020 Opportunity Zones Fall Virtual Conference. Then, he outlines an important update about how to calculate each state’s low-income housing tax credit and private activity bond ceilings for 2021, and he discusses what you should know about the difficult development areas and qualified census tracts for 2021. Next, he talks about updates to the 2020 new markets tax credit allocation application, and he shares some state level news about S.B. 14—the bill in Louisiana that makes businesses affected by Hurricane Laura eligible for the state new markets tax credit. Finally, he talks about a proposed state low-income housing tax credit (S.B. 30) in Louisiana.
In this week’s Tax Credit Tuesday, Michael J. Novogradac, CPA, shares an update on the continued stalemate regarding COVID-19 relief legislation. Next, he shares highlights from the most recent Novogradac Opportunity Zones Working Group comment letter on the 2020-2021 priority guidance plans and ways the IRS can clarify grey areas in opportunity zones regulations. Then, he shares what qualified opportunity funds need to know about the draft Form 8997. Next, he discusses the Federal Reserve Board’s advance notice of proposed rulemaking for Community Reinvestment Act regulation changes. He wraps up with discussion of the Energy Opportunity Zones Act of 2020 (H.R. 8530), a proposal that would extend the renewable energy production tax credit and investment tax credit through the year 2050 for certain areas.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, provides an update on COVID-19 relief legislation negotiations. Then, he discusses a few highlights from the 2020 vice presidential debate related to housing and renewable energy. Next, he talks about the Support Allowing Volume Exception for Federally Assisted Housing Act (H.R. 8533)—a legislative proposal that could greatly assist affordable housing and preservation. He then discusses a Novogradac blog post that analyzes what additional housing financing through the Moving Forward Act (H.R. 2) could mean for each state. He wraps up with news from HUD and what public housing authorities should know about proposed regulation changes for the Housing Opportunity Through Modernization Act of 2016.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, provides details of the continuing resolution that keeps the federal government funded through Dec. 11, 2020. Then, he discusses last week’s presidential debate between President Trump and former Vice President Joe Biden in the context of affordable housing and community development. Next, he shares highlights from the Novogradac 2020 Credit and Bond Financing for Affordable Housing Virtual Conference, and discusses the recent announcement from the IRS on this year’s national pool for low-income housing tax credits. Then, he discusses details from a report by the Federal Housing Finance Agency that illustrates the importance of the low-income housing tax credits, and he talks about a bipartisan letter from the House ways and Means Committee urging the CDFI Fund to ensure Native communities can access the new markets tax credit. He wraps up with discussion of the CDFI Fund’s recent approval of a $100 million guarantee under the CDFI Bond Guarantee program, and state-level disaster recovery news from Louisiana (H.B. 25) and California.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the upcoming presidential debate and what Novogradac will be looking for as far as discussion of community development and affordable housing. Next, he discusses the status of federal funding negotiations to keep the entire federal government open until Dec. 11 of this year. Then, he shares highlights from the Novogradac 2020 Historic Tax Credit Virtual Conference, including insights on how the pandemic is affecting the renovation of historic properties. He then discusses the recently announced designations for difficult development areas and qualified census tracts for 2021. He wraps ups with a preview of Novogradac’s annual operating expenses report and an announcement about funding for the state low-income housing tax credit in Missouri.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, shares breaking news from the CDFI Fund on the 2020 New Markets Tax Credit notice of allocation availability. He then discusses the Continuing Appropriations Act of 2021 and Other Extensions Act—a tentative deal to keep the government funded through Dec. 11. Next, he discusses the 2020 Disasters Tax Relief Act, legislation introduced to increase low-income housing tax credits for certain disaster areas. Then, he shares highlights from “Blue Wave Effects: What a Democratic Sweep Could Mean for Affordable Housing, Community Development and Renewable,” a Novogradac special report that covers what a Democratic sweep in the November election could mean for affordable housing, community development, renewable energy and historic preservation. Next, he discusses what historic preservationists should know about the final regulations for the federal historic tax credit. He wraps up with news of a new policy for qualified opportunity funds in Washington, D.C., and a proposed New York State reporting requirement for qualified opportunity funds called the Opportunity Zone Reporting and Reform Act (S. 8977).
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, shares an important update on funding negotiations in Washington to avoid a government shutdown. Then, he discusses an analysis that Novogradac performed on the Moving Forward Act—specifically, he talks about how the bill’s housing-related provisions could affect affordable housing development and preservation. Next, he discusses the recently announced demand for the CDFI Fund’s Capital Magnet Fund program for the fiscal year 2020 round. He then talks about the Increasing Opportunities for Small Businesses Act of 2020 (H.R. 8120), a new bill meant to help small business owners learn about using the opportunity zones incentive. He wraps up with discussion about the Hemp Opportunity Zones Act of 2020 (H.R. 8131), a proposed community development incentive modeled after opportunity zones.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, gives an update on primary election results of longtime community development tax credit champion: Rep. Richard Neal. Then, he discusses an announcement from the CDC that temporarily halts residential evictions through Dec. 31, 2020. Next, he briefly discusses a U.S. District Court ruling about the right of first refusal for a low-income housing tax credit property. He wraps up with a preview of a Novogradac special report about the upcoming presidential election and how the results could affect affordable housing, community development, renewable energy and historic preservation.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, shares a brief update on the next round of COVID-19 relief legislation. Then, he discusses a significant milestone for the Novogradac Opportunity Funds List concerning reported equity investment in opportunity funds. Next, he talks about what you need to know about fair market rents for fiscal year 2021, and he then outlines key considerations for low-income housing tax credit awardees. He wraps up with discussion of an announcement from the White House on an executive order meant to increase activity in opportunity zones.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a report from the White House Council of Economic Advisers on the economic impact of the opportunity zones incentive. Then, he talks about a U.S District Court ruling in Hawaii that addressed the ability of a state allocating agency to terminate extended-use agreements under the qualified contract process. Next, he shares updates on COVID-19 relief legislation in Congress, and discusses President Donald Trump’s tax proposals if he is re-elected in November. He wraps up with discussion of low-income housing tax credit compliance issues that were not addressed in IRS Notice 2020-53.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA shares an update on negotiations over COVID-19 relief legislation, as well as how tax incentives fit into the discussion. Then, he talks about details of former Vice President Joe Biden’s tax proposals, and what his proposals could mean for investments in tax incentives next year and beyond, if Biden wins this election. He wraps up with discussion of the latest qualified equity investment issuance report from the CDFI Fund, including the amount of new markets tax credit allocation authority that remains to be issued.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA talks about the status of COVID-19 relief legislation negotiations in Congress, and he discusses a set of COVID-19-related directives form the White House. Next, he discusses updates to the Paycheck Protection Program FAQ document from the Small Business Administration. Then, he shares some insights on how community development entities can begin preparing for the upcoming calendar-year 2020 new markets tax credits allocation round. He wraps up with brief news about a proposed CDFI national crisis fund, and a new requirement for multifamily property owners in forbearance who have mortgages backed by Fannie Mae and Freddie Mac.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses negotiations for the next round of COVID-19 relief legislation and the extension of the now-expired federal eviction moratorium and rental assistance. Then, he talks about coronavirus-related guidance from the IRS for the historic tax credit. Next, he discusses how the CDFI Fund plans to continue to handle COVID-19 relief guidance for the new markets tax credit. He also talks about presidential candidate Joe Biden’s latest economic plan and what it says about the new markets tax credit and opportunity zones. He wraps up with a minibus appropriations bill for fiscal year 2021 passed in the House and news from HUD on how to access funding made available in the CARES Act earlier this year.
In this week’s Tax Credit Tuesday, Michael J. Novogradac, CPA, discusses the COVID-19 relief package that was introduced by Senate Republicans called the HEALS Act and the provisions it contains for individuals, businesses and HUD housing. Then, he discusses housing goals for 2021 that were releases by the Federal Housing Finance Agency. Next, he shares news about the upcoming new markets tax credit allocation round and other insights from the Novogradac New Markets Tax Credit Virtual Conference. He wraps up with a HUD announcement about COVID-19 supplemental payments for project-based rental assistance properties, and an announcement from the CDFI Fund regarding its proposed changes to the annual certification and data collection report form and the certification transaction-level report for CDFIs.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA discusses the 2019 new markets tax credit awards from the CDFI Fund. Then, he shares highlights from the Novogradac 2020 Opportunity Zones Virtual Conference, and he shares panel discussions from Novogradac’s Affordable Housing Friday Forum. Next, he talks briefly about the Economic Justice Act—a legislative proposal that would create a minimum 4 percent low-income housing tax credit. He then shares highlights from the National Low-income Housing Coalition’s 2020 Out of Reach report on housing affordability. He wraps up with updates from Louisiana regarding the state’s new markets tax credit, historic tax credit and opportunity zones incentives.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA discusses a proposal from presumptive Democratic nominee Joe Biden and Sen. Bernie Sanders to make significant investments in affordable housing, renewable energy and community development, which includes a recommendation to expand and make permanent the new markets tax credit. Then he shares highlights from the Novogradac Affordable Housing Friday Forum and panelists’ discussion of debt and equity trends during the pandemic and the future of affordable housing in California. Next, he talks about nearly $76 billion in funding for fiscal year 2021 approved by the House Transportation-HUD Committee. He wraps up with updates on the extension and expansion of state historic tax credits in Mississippi and Delaware.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses IRS Notice 2020-53 that provides anticipated COVID-19 relief measures for low-income housing tax credit properties. Then, he talks about the Joint Committee on Taxation’s scoring of provisions in the Moving Forward Act infrastructure legislation, which contains low-income housing tax credit, new markets tax credit, historic tax credit and renewable energy tax credit provisions. Next, he shares an update on the extension of the Paycheck Protection Program. He then discusses highlights from the New Markets Tax Credit Coalition’s annual report on the NMTC. He wraps up with updates about funding for the Rhode Island state historic tax credit and the California low-income housing tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, shares highlights from the Affordable Housing Friday Forum on key low-income housing tax credit proposals that Congress may consider this year or next year, and he highlights how low-income housing tax credit investment can be affected by the Office of the Comptroller of the Currency’s Community Reinvestment Act reform as well as the presidential election. Next, he talks about the recently introduced clean energy bill called the GREEN Act. Then, he shares good news about a final rule for implementing the Volcker Rule that would allow banks to invest in and sponsor qualified opportunity funds. Finally, he discusses an announcement from HUD on the release of its biennial report of worst-case housing needs.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses details of an infrastructure package that was introduced by House Democrats called The Moving Forward Act, which includes proposals to expand and enhance the low-income housing tax credit, new markets tax credit, historic tax credit and renewable energy tax credits. Then, he talks about two opportunity zones reports, one form the White House Opportunity and Revitalization Council and the other from the Urban Institute. Next he discusses a letter from nearly 180 House members seeking COVID-19 relief for renewable energy tax credit transactions. He then reviews extended low-income housing transaction deadlines in California, and shares details on how to apply for part of the $1 billion in federal disaster LIHTCs available in California. Finally, he shares a quick update on the status of the California state historic tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses recently released disaster relief guidance from the IRS for new markets tax credit transactions. The guidance extends deadlines for community development entities and qualified new markets tax credit businesses. Next, he discusses the California state budget proposal and investors’ ability to claim the state low-income housing tax credit in California. Then, he shares news of the recently enacted South Carolina state low-income housing tax credit. He wraps up with discussion of proposals to extend other state credits in Louisiana and Mississippi.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA shares Notice 2020-39, an update about IRS disaster relief guidance for opportunity zones investors, funds and businesses. Then, he talks about HUD’s Opportunity Zones Toolkit: Volume II, a guide to help local communities create opportunity zones plans. After that, he discusses provisions of the recently enacted Paycheck Protection Program Flexibility Act of 2020 (H.R. 7010). He also shares an update on infrastructure legislation that may be a vehicle for affordable housing and community development provisions. He discusses potentially good news about California’s state budget proposal in relation to California state low-income housing tax credits. He closes with highlights of the new Novogradac Rental Assistance Demonstration Handbook.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA shares an update about two extended continuity safe harbors for renewable energy investment tax credit and production tax credit properties affected by the COVID-19 pandemic. Then, he discusses an announcement from Treasury and the Small Business Administration to set aside funding from the Paycheck Protection program for CDFIs. Next, he talks about the Paycheck Protection Program Flexibility Act of 2020, legislation passed by the House that would provide substantial changes to the Paycheck Protection Program. He then talks about a letter sent from Reps. Terri Sewell and Tom Reed to the IRS requesting temporary suspension of debt modification rules for community development entities. He wraps up by discussing the 2020 funding round for the Capital Magnet Fund.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA discusses the final rule amending Community Reinvestment Act Regulations that was released by the Office of the Comptroller of the Currency. Next, he talks about proposed regulations released by Treasury that clarify rules for the federal historic tax credit. He then discusses an outline of affordable housing policies that Sen. Ron Wyden of Oregon will push to be included in the next round of COVID-19 relief legislation. Finally, he talks about the Paycheck Protection Program Flexibility Act that was introduced in the House, and the Senate version of the bill: The Paycheck Protection Program Extension Act.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA shares findings from a Novogradac-NCSHA report that analyzes the impact of lowering the 50 percent test for 4 percent tax-exempt bond financed properties. Next, he discusses a few updates to the Paycheck Protection Program including loan forgiveness and increases in loan amounts. Then, he talks about provisions in the Health and Economic Recovery Omnibus Emergency Solutions, or HEROES Act. He then shares highlights from presidential candidate and presumptive democratic nominee Joe Biden’s recently updated housing and community development plan. He closes out with news on the revised California state budget proposal and private activity bond application deadline extensions from the California Debt Limit Allocation Committee.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA shares important guidance and legislative updates regarding the Paycheck Protection Program. Next, he discusses the Emergency Rental Assistance and Rental Market Stabilization Act of 2020 that was introduced in the House and Senate, which creates a $100 billion emergency rental assistance fund. Then, he shares highlights from a Novogradac special report about the effect of the last national recession on low-income housing tax credit properties and what that historical data could suggest for future economic downturns. He then talks about challenges that the wind and solar industries are facing during the COVID-19 pandemic. He wraps up by announcing the Novogradac 2020 Opportunity Zones Virtual Conference and the Novogradac 2020 New Markets Tax Credit Virtual Conference.
In this week’s Tax Credit Tuesday, Michael J. Novogradac CPA, shares updates on guidance from the Internal Revenue Service relating to the review and certification of Paycheck Protection Program loans. Then, he shares an exciting announcement about a Novogradac Opportunity Funds Listing milestone for funds raised. Next, he discusses Revenue Procedure 2020-21 and IRS Notice 2020-25 which give temporary guidance for the use of private activity bonds, and he discusses some affordable housing updates related to private activity bonds and the 4 percent low-income housing tax credit. He then talks about a letter sent to Treasury by nine Republican senators urging Treasury to provide relief for opportunity zones in the wake of COVID-19, and he discusses details of a letter sent by the Novogradac New Markets Tax Credit Working Group to Treasury and the CDFI Fund to issue guidance and postpone certain deadlines due to the pandemic. Next, he discusses IRS Revenue Procedure 2020-29 which temporarily allows taxpayers to electronically submit requests for private letter rulings and other requests for advice. Finally, he talks about changes proposed by the California Tax Credit Allocation Committee for allocating 2020 low-income housing tax credits.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA covers the recently enacted Paycheck Protection Program and Health Care Enhancement Act. Then, he discusses future COVID-19 relief legislation that may include provisions of the Affordable Housing Credit Improvement Act, the HTC-GO Act and an increase in the federal historic tax credit percentage. He wraps up with news of a forthcoming update to the Novogradac Opportunity Funds Listing.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, gives an update on COVID-19 relief legislation including proposals for additional funding for the Small Business Association’s Paycheck Protection Program, establishing a minimum 4 percent floor for the low-income housing tax credit and a reduction of the 50 percent test. Then he talks about the introduced Opportunity Zone Extension Act (H.R. 6513). He also discusses low-income housing tax credit deadline extensions that were included in IRS Notice 2020-23. He wraps up by discussing two mortgagee letters from HUD that provide guidance on certain FHA and HUD 223(f) loans.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA continues coverage of responses to the COVID-19 pandemic. He discusses proposed relief legislation and future phases of COVID-19 relief legislation. Next, he discusses Notice 2020-23 from the IRS which, among other provisions, extends the 180-day deadline to invest capital gains in qualified opportunity funds. He then talks about IRS Revenue Procedure 2020-23 that allows partnership tax returns from 2018, and some from 2019, to be amended because of certain changes that were included in the CARES Act. Then, he discusses a letter from the Novogradac Opportunity Zones Working Group that was sent to Treasury and the IRS requesting relief from certain opportunity zones deadlines. He also talks about highlights from comment letters sent by three Novogradac Working Groups to the OCC and FDIC on proposed CRA changes. He wraps up with discussion of deadline extensions from the CDFI Fund, the California Tax Credit Allocation Committee, and the Indiana Housing & Community Development Authority.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA discusses next steps for a fourth phase of COVID-19 relief legislation and what provisions could be included. Next he discusses the challenges that the COVID-19 pandemic is bringing to the affordable rental housing community, including low-income housing tax credit financed housing. Then, he talks about the HUD income limits for 2020 that were released and the impact that the COVID-19 pandemic will have on future income limits. Finally, he discusses a notice from the IRS with corrections to the final opportunity zones regulations that were published in January.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA outlines provisions of the recently passed Coronavirus Aid, Relief and Economic Security, or CARES, Act. Then, he discusses how the COVID-19 pandemic could affect future HUD income limits. He wraps up with news from USDA Rural Development on changes to single-family and multifamily housing related to the COVID-19 pandemic.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA outlines several COVID-19 relief legislation packages including the recently enacted Families First Coronavirus Response Act (H.R. 6201). He also discusses several proposed bills, including the Coronavirus Aid, Relief and Economic Security Act, or CARES Act (S. 3548), a draft bill from House Speaker Nancy Pelosi and the Financial Protections and Assistance for America’s Consumers, States, Businesses and Vulnerable Populations Act (H.R. 6321) that was introduced by House Financial Services Committee Chairwoman Maxine Waters. Then, he discusses the extension of the tax filing and payment deadlines from the IRS, and investment expansion authorizations from the FHFA and the Federal Reserve. Next he discusses how certain lending activities related to COVID-19 would receive positive Community Reinvestment Act consideration. He also talks about announcements from HUD and the FHFA that would suspend evictions and foreclosures for certain housing and provide mortgage forbearance for multifamily property owners. Next, he discusses a few state-level responses to the COVID-19 pandemic. He wraps up with news on the CDFI Fund notice of guarantee availability for the fiscal year 2020 CDFI Bond Guarantee Program.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, talks about federal coronavirus relief legislation and how housing and community development could play a role in those initiatives. He also discusses what coronavirus resources and relief may be available for various tax credit communities. He closes out with an update from the Federal Housing Financing Agency on its evaluation of Fannie Mae and Freddie Mac’s duty to serve requirements, as well as an update on the Affordable Housing Credit Improvement Act (H.R. 3077) and the Revitalizing Economies, Housing and Businesses Act (H.R. 6175).
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, talks about low-income housing tax credit and private activity bond allocation limits in 2020. Then, he shares an update on cosponsors for the Affordable Housing Credit Improvement Act, and discusses an energy extenders amendment to the American Energy Innovation Act introduced by Senate Finance Committee Ranking Member Ron Wyden. Next, he talks about a recommendation from the California Tax Credit Allocation Committee that all developers applying for 4 percent low-income housing tax credits apply now for tax-exempt bonds. He then discusses a California Assembly Bill that would create a state-level new markets tax credit incentive. He closes with an update about the enactment of a Wisconsin state-level opportunity zones bill that doubles the capital gains exclusion for Wisconsin qualified opportunity funds.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the fiscal year 2019 Capital Magnet Fund Awards and how to prepare for the fiscal year 2020 round. Then, he talks about the notice of funding availability for the CDFI program and the Native American CDFI Assistance program. He wraps up with news on updated guidance from HUD on how to layer subsidies for project-based voucher properties.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA talks about when he expects HUD’s 2020 income limits to be released and what can be expected from the updated figures. Next, he shares news of the comment period extension for proposed CRA regulations, and discusses the enactment of a state LIHTC program in Maine. Finally, he discusses legislation in Connecticut that would expand the state’s workforce housing program to include opportunity zones, and he shares an update on Wisconsin opportunity zones legislation that is waiting to be signed by the Gov. Tony Evers.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA discusses more details on the Trump administration’s fiscal year 2021 budget request and how the request could affect affordable housing and community development. Next, he talks about mention of the low-income housing tax credit during a Senate Finance Committee hearing on the president’s budget request. Then, he shares an announcement on HUD’s capital fund program and a letter from Senate Finance Committee Chairman Chuck Grassley on renewable energy tax credit incentives. He closes with state-level opportunity zones legislation that was introduced in Utah and Illinois.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac CPA, talks about key points from the Trump Administration’s budget proposal. Specifically, he talks about what the budget proposes for affordable and public housing funding. Next, he talks about President Trump’s mention of opportunity zones in the State of the Union address. He then discusses a public housing hearing held by the House Financial Services subcommittee on Housing, Community Development and Insurance. He also shares an update on the Puerto Rico emergency supplemental appropriations bill that was passed by the House of Representatives, and he shares an update on final versions of Form 8996 and 8997 that were released by the IRS. Then, he talks about a report released by Rep. Earl Blumenauer and six of his colleagues that calls for an increase in affordable housing funding. Finally, he discusses legislation that was introduced in Kentucky and Maryland to create state LIHTC programs, and a ruling in Alabama to take into account extended use agreements when valuing LIHTC properties.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac CPA, discusses an infrastructure plan that was released by House Ways and Means Democrats called Moving Forward. Next, he discusses an emergency supplemental appropriations bill that would provide additional appropriations to Puerto Rico to help rebuild after recent earthquakes. He then shares an update on CRA reform and discusses key details from a hearing held by the House Financial Services Committee on proposed CRA regulations released by the OCC and FDIC. He also talks about guidance released by the IRS that clarifies how to determine income limits in the average income test for low-income housing tax credit properties. Then, he shares some highlights from the Novogradac 2020 New Markets Tax Credits Conference, and finally, talks about draft opportunity zone regulations that were released by the Puerto Rico Department of Economic Development and Commerce.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac CPA, talks about plans to move forward with federal infrastructure proposals. He also talks about Sen. Tim Scott, S.C., exploring the idea of introducing legislation that would allow governors to reconsider some of their opportunity zones designations. Then he talks about a recent development in CRA reform and what to expect from the OCC and FDIC in the coming weeks. Next, he talks about state level news including a ruling from a state trial court in New York about low-income housing tax credit partnerships, and legislation from Hawaii that would make the state’s low-income housing tax credit program permanent. He also discusses a private letter ruling from Colorado on partnerships pursuing the state low-income housing tax credit. Finally, he shares news of legislation introduced in Hawaii that would ensure the 35 percent renewable energy credit regardless of any future amendments to state law.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses updates for the recently released draft Forms 8996 and 8997 and their instructions. Next he talks about the INVEST Act, a bill that would set aside 10 percent of the new markets tax credit allocation for Indian and native lands. He then shares insight into the latest QEI report for new markets tax credit investments, and talks about the introduced Fulfilling the Promise of the Housing Trust Fund Act. He also talks about the web-based mapping tool that was announced by the U.S. Economic Development Administration. Finally, he discusses state-level news regarding opportunity zones, historic tax credits, low-income housing tax credits and renewable energy.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares the latest update on the Novogradac Opportunity Funds listing. Then, he discusses tax incentive legislation in the House and Senate and co-sponsors for each bill. Next, he shares highlights from the Novogradac 2020 RAD Public Housing Conference last week in Ft. Lauderdale, Fla. He also discusses proposed Community Reinvestment Act regulations released by the OCC and FDIC. He then discusses HUD’s proposed update for the Affirmatively Furthering Fair Housing rule as well as HUD’s homeless assessment report that was released last week. Finally, he shares an update on the Energy Sector Innovation Act of 2019 that was introduced by Rep. Tom Reed, and an update from the Department of Transportation on the interactive opportunity zones map it released.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares information on final regulations for opportunity zones that were released by the Treasury Department at the end of 2019, and what those regulations mean for opportunity fund investments. Next, he talks about tax extenders that were passed at the end of 2019, including the extension or increase of several tax incentives. Then he discusses a proposal released by HUD to expand the information it collects for project-based vouchers. Finally, he shares that the California Debt Limit Allocation Committee voted to allocate a majority of the state’s private activity bonds to multifamily affordable rental housing.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares breaking news on government funding bills that were introduced in the House that include extensions of the new markets tax credit, wind production tax credit and a disaster allocation of California low-income housing tax credits. Next, he discusses proposed Community Reinvestment Act regulations that were introduced last week. Then he talks about a HUD notice announcing fiscal year 2020 annual adjustment factors for the Section 8 housing assistance payments program and the Eviction Crisis Act. Finally, he talks about a memo that was released by California TCAC clarifying requirements for the use of a low-income unit for a property manager in a low-income housing development.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about what to expect from opportunity zones guidance submitted by the Treasury Department to the Office of Information and Regulatory Affairs. Then, he discusses the opportunity zones reporting bill, or the IMPACT Act, that was introduced last week. Next, he provides an update on the Novogradac Opportunity Funds Listing, and recaps some important highlights of the Novogradac 2019 Tax Credit Housing Finance Conference. He also discusses potential year-end tax deals to expect as the government approaches another funding deadline, and talks about final regulations for BEAT that were released by the IRS last week. In other news, he talks about the Renewable Energy Investment Act of 2019 that was introduced in the House, and shares that the U.S. Department of Education will be giving priority to grant applications that propose to serve opportunity zones. Finally, he talks about the application for the Multifamily Coal Trust Homes Program in Montana.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares an update on year-end tax legislation and federal appropriations as well as updates on CRA reform. He then discusses the expected shortage of private activity bonds for several states, specifically California. Next, he provides details on affordable housing plans released by Sen. Elizabeth Warren and Mayor Pete Buttigieg. Finally he talks about a bill that was introduced in South Carolina that would create a low-income housing tax credit for properties in opportunity zones.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, provides an update on legislation that was introduced to repeal the opportunity zones incentive. Next, he shares insight into democratic presidential candidate affordable housing plans as well as a bill that was introduced that would bar jurisdictions form using a high-housing cost adjustment to calculate area median income. Then, he discusses income and rent limits for 2020 and 2021, and the operating cost adjustment factors for 2020. He closes with a roundup of news on the Community Reinvestment Act, opportunity zones, public housing and Wisconsin’s low-income housing tax credit allocation plan.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, gives an update for Federal appropriations too avoid a government shutdown and OCC plans to release an advanced notice of proposed rulemaking on CRA before the end of the year. Next, he covers several infrastructure plans including Peter DeFazio’s infrastructure bill, the Housing is Infrastructure Act of 2019, as well as presidential candidate Joe Biden’s infrastructure plan. Then he discusses the Opportunity Zone Reform Act that was introduced in the House, and the Opportunity Zones Diversity Bill that was introduced last week. He also talks about the Immigrant Investor Program Reform Act and the Incubator Act of 2019, both of which encourage investment in opportunity zones. Next, he talks about plans for House Democrats to introduce legislation to extend expire and expiring renewable energy incentives. He also gives an update on the conservatorship of Fannie Mae and Freddie Mac. Finally, he discusses a Notes from Novogradac blog post on the rate of cost-burdened households in older-age groups.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about opportunity zones reporting legislation that was introduced in the House and Senate last week. Next, he discusses an investigation into the legitimacy of an opportunity zone designation in Nevada, and shares highlights from the 2019 Novogradac Financing Renewable Energy Tax Credits Fall Conference. Then, he discusses presidential candidate Pete Buttigieg’s affordable housing plan that was released last week, and then talks about Apple’s affordable housing commitment. He also talks about 2020 state low-income housing tax credit and private activity bond caps for 2020 released by the IRS. He then talks about a blog post discussing the annual private activity bond cap report and a blog post describing estimates of median income changes projected over the next two years. Finally, he discusses a new frequently asked questions document published by HUD on the Rental Assistance Demonstration, and a letter advocating extension of expired clean energy tax incentives.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the HUD appropriations bill for 2020 that was passed by the Senate as well as a more general status of 2020 appropriations legislation. He also discusses Fannie Mae and Freddie Mac’s duty-to-serve requirements and how they exceeded their 2018 requirements. Next, he discusses the 2019 low-income housing tax credit national pool, then he shares insight into the IRS draft Form 8996 that was recently released for qualified opportunity funds. Then, he talks about the Housing for Homeless Students Act of 2019 and the California Debt Limit Allocation Committee’s recommendation to make the February 2020 round for tax-exempt bonds competitive. Finally, he discusses an extension of the North Carolina state historic tax credit.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses highlights from the Novogradac 2019 Opportunity Zones Fall Conference, and shares an update on the Novogradac Opportunity Funds Listing. Then, he talks about comment letters that the Novogradac OZ Working Group sent to the Federal Reserve and the OCC. Next, he shares some insight on recently announced 2020 DDAs and QCTs, and discusses a recent report on HUD’s Rental Assistance Demonstration. He then talks about the Council of Development Finance Agencies report on multifamily and single-family tax-exempt private activity bond issuance for 2018, and companion bills, known as the HOME Act that were introduced in Congress. Next he discusses the FHFA request for public comment on proposed changes to Fannie Mae and Freddie mac, and talks about HUD’s announcement that the Real Estate Assessment Center will not adopt the Accounting Standards Update 2016-18. Then he shares insight into a letter sent to Congress from 231 mayors asking for passage of the Renewable Energy Extension Act, and discusses Oklahoma and Missouri state historic tax credit rulings and updates. Finally, he talks about an opportunity zones initiative launched in Virginia.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the introduction of the Senate version of the Historic Tax Credit Growth and Opportunity Act, or the HTC-GO Act. Then he talks about HUD’s release of difficult development areas and qualified census tracts for 2020, and introduction of Sen. Kamala Harris’ Ending Homelessness Act of 2019. Next he shares highlights from the Novogradac 2019 New Markets Tax Credit Fall Conference, including keynote speakers and informative panels on the extension of the new markets tax credit incentive through 2020. He also shares information on the Home Energy Savings Act (S. 2588) to extend the Section 25C credit and the New Home Energy Efficiency Act (S. 2595) to extend the Section 45L tax credit. Finally, he discusses House Bill 532 for opportunity zones investments in Wisconsin, and shares what to expect at the Novogradac 2019 Opportunity Zones Fall Conference.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, gives an update for the IRS priority guidance plan for 2019-2020. Then talks about Brian Montgomery’s expected nomination for HUD Deputy Secretary, and shares an update on the fourth revision to the Rental Assistance Demonstration Program. Next he talks about opportunity zone news including anticipated opportunity zones regulations updates, a HUD-proposed opportunity zones certification form and funding granted by the Department of Education to help schools in opportunity zones. He then talks about the 2019 Novogradac Opportunity Zones Fall Conference, and the housing plans of two Democratic presidential candidates, Michael Bennet and Beto O’Rourke. He discusses HUD’s shutdown contingency plan and the establishment of an expedited review process for relief requests from HUD requirements for public housing agencies in major disaster areas. He also talks about the Rural Housing Preservation Act of 2019. Finally, he shares two updates from the state of California on the state historic tax credit and final proposed regulations for the California state LIHTC.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about draft forms and instructions for forms 1040 and 1099-B relating to opportunity zones, and the White House Opportunity and Revitalization Council’s website for stakeholders that launched last week. Then he provides an update on when we can expect updated regulations for opportunity zones to be released, and mentions that issues concerning updated regulations have been discussed in a blog post and will be discussed in an upcoming conference. Next he shares highlights from the Novogradac 2019 Credit and Bond Financing for Affordable Housing Conference including Developments of Distinction award winners and important information from panel discussions and sessions including a case study of the average income test. After that, he discusses new model forms for state compliance agencies released by the National Council of State Housing Agencies, and upgrades in how much Freddie Mac and Fannie Mae can retain in capital reserves as a step towards moving them out of conservatorship. Then, he talks about the updated new markets tax credit application and FAQ released by the CDFI Fund, and legislation that was introduced to reinstate the Section 45L credit that expired at the end of 2017. Finally, he talks about a Wisconsin bill that was introduced to increase the tax benefit for investors in qualified opportunity funds.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the stopgap funding bill that prevented a government shutdown and will keep the government funded through Nov. 21. Then he shares highlights from the Novogradac 2019 Historic Tax Credit Conference in St. Louis, including insights from Sen. Bill Cassidy’s keynote address. After that, he discusses the summary of the annual historic tax credit investment report by Rutgers University and the National Parks Service, and shares guidance updates from the IRS on the Section 199A deduction. He then shares insight on the draft IRS Form 8997 for opportunity fund investments, and news on HUD and FHA incentives for hospitals and care facilities in opportunity zones. Next, he discusses a comment letter that was submitted by a group of state economic development officials to the IRS on proposed rules for investing in qualified opportunity funds. Finally, he shares news on amendments to the Missouri state historic tax credit program.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about Congressional efforts to avoid a government shutdown on Oct. 1. After that, he shares details on proposed appropriations funding for HUD for fiscal year 2020, then provides an update with details about the Novogradac Opportunity Funds Listing. He also talks about HUD’s proposed rule change to implement provisions of the Housing Opportunity Through Modernization Act, shares what cities received Choice Neighborhoods awards, and provides an update about an IRS notice providing relief for low-income housing tax credit properties in areas of California hit by last year’s wildfires. He also shares about a California state historic tax credit and efforts in Michigan to promote opportunity zones.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about Congressional efforts on a continuing resolution bill to fund the federal government past the Sept. 30 deadline. After that, he’ll talk about a hearing on housing reform finance plans, followed by a discussion of three bills: one to encourage property sales to public housing authorities, one to incentivize building more housing near transit and another to expand and extend the energy-efficient new home credit. He’ll also share insight on final regulations on 100 percent expensing under Section 168(k), as well as information about updated certification requirements for the CDFI program and the Native American CDFI Assistance applicants. He’ll close with information from California on opportunity zone conformity legislation, a rent control bill that passed the legislature and a survey on the state’s expanded low-income housing tax credit.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about a plan by House Democrats to consider a continuing resolution to avoid a government shutdown at the end of this month. After that, he’ll discuss Treasury and HUD’s housing finance reform plans for Fannie Mae and Freddie Mac. Then, he’ll share details about a long-awaited notice from HUD that revises and expands its Rental Assistance Demonstration program, followed by news on the opening of the 2019 new markets tax credit allocation round. He’ll also talk about updated opportunity zones frequently asked questions, a request for comment from the Commerce Department on opportunity zones and some analysis on fiscal year 2020 fair market rents. That’s followed by some brief news on Cross Refined Coal LLC and USA Refined Coal LLC vs. the Commissioner of Internal Revenue, a recent tax court ruling that may have implications for tax credit incentive investments. And, he’ll close with the status of California A.B. 10, a proposal to authorize an additional $500 million in state low-income housing tax credits annually for five years.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the latest report from the Senate Finance Committee’s Tax Extenders Task Forces, which includes feedback on extension of the new markets tax credit. He also shares an update on cosponsors for the New Markets Tax Credit Extension Act and the Affordable Housing Credit Improvement Act, as well as an overview of the U.S. Department of Housing and Urban Development’s release of fiscal year 2020 fair market rents. He closes out by sharing information about Treasury’s fourth-quarter update on its 2018-2019 priority guidance plan, an upcoming meeting for the CDFI Fund’s advisory board and a grant program to provide incentives for opportunity zones investments in New Mexico.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the fall schedule of Novogradac tax incentive conferences, including agenda highlights, keynote speakers and preconference workshops. He also shares news about a bill that would extend the production tax credit for some renewable energy technologies, as well as a HUD demonstration program for physical inspection of real estate. He closes out by discussing proposed changes to California’s state regulations for the low-income housing tax credit, a bill that would have California partially conform to the Internal Revenue Code concerning opportunity zones investments and guidance about the Kentucky state historic tax credit.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the first three reports by the Senate Finance Committee’s Tax Extenders Task Forces. He also shares news about recent IRS guidance on bonus depreciation (Rev. Proc. 2019-33) and on California’s massive investment in affordable housing through its annual budget. He closes out with a HUD proposed rule on the disparate impact standard and the announcement of new directors for the California Tax Credit Allocation Committee and California Debt Limit Allocation Committee.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the potential timing of the opening of the next round for the new markets tax credit. He also discusses when Treasury might finalize opportunity zones regulations. He closes out with HUD’s announcement that the Federal Housing Administration will insure mortgages on mixed-use development in opportunity zones.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the budget and debt limit agreement becoming law and what’s next for Congressional appropriators. He also discusses the status of the Senate Finance Committee’s tax extenders task forces and when their findings might be released, as well as what Democrat presidential candidates have to say about affordable housing and renewable energy. He closes out with an update on the new Congressional district fact sheets from the ACTION Campaign and a legal opinion on the state historic tax credit from the Arkansas Department of Finance and Administration.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about what the House spending and debt limit agreement could mean for tax extenders. He also discusses the Renewable Energy Extension Act and a bill to extend the Community Development Block Grant-Disaster Recovery program indefinitely. He then closes out with news on a remediation bill for properties in opportunity zones, legislation to strengthen inspection standards for HUD-subsidized properties, a HUD memo for owners and managers of multifamily properties and state-level updates on opportunity zones investments in Ohio and certain historic tax credit investments in Rhode Island.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the agreement on discretionary spending levels and debt limit suspension [1:26}. He also discusses guidance issued last week by the Securities and Exchange Commission and the North American Securities Administrators Association concerning investments in opportunity zones [6:59]. He moves on to IRS final regulations about Section 50(d) income [9:49]. He then closes out with news on a New Markets Tax Credit Coalition report, the ADVANCE Act of 2019, a new chapter in the HUD Housing Choice Voucher Guidebook, an advocacy letter to Congress asking to extend the investment tax credit and Pennsylvania conforming to the Internal Revenue Code for OZ investments [11:42].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the timing of a possible tax extenders vehicle [2:10] and the introduction of a bill to make the Community Development Block Grant-Disaster Recovery program permanent [4:22]. After that, he has a recap of the Treasury’s hearing last week on proposed opportunity zones regulations [6:05]. He closes out this week’s podcast with a couple of state-level tax incentive updates: one from Hawaii and the other from Rhode Island [15:08].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the schedule for Congress, some upcoming deadlines and how those deadlines affect possible tax extenders [1:38]. Then, he touches on an important Treasury hearing occurring today [7:20]. After that, he provides updates on several items, including an important memo from the IRS, news from the National Park Service and state-level information from West Virginia and Delaware [9:03].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about a new White House council to address affordable housing barriers [01:50]. Then he outlines a bill designed to apply on a retroactive basis to low-income housing tax credit properties, in an effort to mitigate the removal of rent restrictions [2:27]. After that, he discusses bipartisan legislation to authorize an additional $500 million in new markets tax credit allocation authority annually for certain rural communities in 2019 and 2020 [07;03]. He then shares cosponsor updates on legislation to make the new markets tax credit permanent [08:39], as well as news about opportunity zones and opportunity funds [11:09]. After that, he has updates on several items, including the state of the nation’s housing, the Capital Magnet Fund, a renewable energy bill and news from several states on opportunity zones, low-income housing tax credits and new markets tax credits [12:28].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about how Ways and Means Committee Democrats are proposing a tax-extenders package. He also discusses the IRS updating its Opportunity Zones Frequently Asked Questions page to address Section 1231 gains invested in 2018 [2:25]. He then moves on to the effort by Senate Democrats to extend the renewable energy investment tax credit [8:02]. Next, he talks about a report on the persistent gap between renters’ wages and the cost of rental housing [9:07]. After that, he outlines a proposal to create a new single-family housing tax credit [11:07]. He closes out with the latest qualified equity investment issuance report from the CDFI Fund, and some news from Michigan and West Virginia and how proposed legislation could increase opportunity zones investments in those states [13:16].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares an update on the status of a House Democrat-led tax extenders package [1:37]. Then, he has news about an opportunity zones extension bill [4:05] and a decision to make opportunity zones an investment priority for the U.S. Economic Development Administration [5:37]. Next, he summarizes a couple of comment letters on proposed opportunity zones regulations [6:28]. He also shares the Federal Housing Finance Agency’s latest report to Congress and the status of housing finance reform efforts [8:28]. He closes out with state legislative news and an update on the inflation adjustment for calculating the wind production tax credit [10:00].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about Novogradac’s 2019 NMTC Spring Conference [1:50], as well as provides an update on the Affordable Housing Tax Credit Improvement Act [6:44]. He also discusses information about a proposed change in how HUD calculates fair market rents [8:31]. He closes with updates on some federal budget items and state-level news from Nevada, Louisiana, Minnesota and Alabama [11:04].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about reintroduction of the Affordable Housing Credit Improvement Act, a bipartisan bill that would improve and expand the low-income housing tax credit [1:29]. He also talks about the latest news on privatizing Fannie Mae and Freddie Mac [6:33]. Then, he shares brief news on HUD’s proposal to revise information collected for its low-income housing tax credit database [7:50]. He closes out with state news from Alabama and California [8:12].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, covers the 15th round of new markets tax credit allocation awards [2:23] and provide highlights of the recent renewable energy tax credit conference in San Francisco [5:16]. He then shares updates on proposed spending legislation for HUD [9:19], as well as disaster relief legislation [10:54], and the status of the Senate Finance Committee’s task forces on temporary tax provisions [11:46]. He closes with state news from West Virginia, Alabama, North Carolina and South Carolina [12:58].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the current status of federal government budget negotiations [2:17] and the announcement of Senate Finance Committee task forces on tax extenders [4:26]. He then talks about the introduction of the Historic Tax Credit Growth and Opportunity Act (HTC-GO) in the House [9:25], as well as the introduction of the Renewable Energy Transferability Act, a bill to make the renewable energy tax credit accessible to more investors [11:49]. He has an update on housing finance reform [12:55]. He also shares brief news from HUD on identifying former tenants who owe a debt to a public housing agency. Then, he has news about the 2019 round of the Capital Magnet Fund. After that, he discusses opportunity zones legislation in Puerto Rico, low-income housing tax credits in Colorado and Missouri, and state historic tax credits in Georgia [13:58].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with House passage of a disaster relief bill that includes $2.2 billion in community development block grant-disaster recovery funding [2:23]. He also has news about an opportunity zones reporting bill [4:07] and legislation to replace current renewable energy tax credits with new technology-neutral credits [5:49]. He also talks about a hot topic that affects housing finance agencies, low-income housing tax credit property owners, and likely, the tenants of those properties [6:56]. He also has brief news from HUD on eligibility for housing assistance and guidance on calculating the over-income limit for public housing. Then, he touches on opportunity zones news related to a Freddie Mac report and to Federal Housing Administration affordable housing incentives. After that, he will have updates from various states relating to state LIHTCs, historic tax credits and linking state incentives with federal opportunity zones [10:04].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares an update from the 2019 Affordable Housing Conference Novogradac hosted last week in San Francisco [3:03]. He also shares highlights and key takeaways from last week’s House Financial Services Committee hearing that examined the infrastructure needs of the country’s affordable housing stock [7:43]. He will also talk about the latest updates for the Novogradac Rent and Income Limit Calculator©. He closes out with news on the New Markets Extension Act of 2019, as well as some information on the latest state tax credit bills [10:16].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares an update from last week’s opportunity zones conference that Novogradac hosted in Denver. He will summarize what’s next for the opportunity zones community including what the next steps may be for the Treasury Department. He will also share highlights and key takeaways from last week’s release by HUD of the 2019 income limits and what those new limits might mean for your low-income housing tax credit property.
In this Special Opportunity Zones Edition of the Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, highlights key points from Treasury’s second tranche of opportunity zones guidance. Categories include operating businesses, investors, fund operations, real estate and open items.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares some news about disaster tax relief legislation [3:03] and new markets tax credit permanence legislation [4:21]. Next, he talks about how the Department of Education is planning to spur investments in charter schools in conjunction with opportunity zones [5:26]. He also has an update on the status of tax extenders in Congress [6:29] and a new energy storage investment tax credit bill [7:18]. Then, he briefly shares some IRS plans to issue guidance on the low-income housing tax credit, historic tax credit and new markets tax credit. He also provides an update on the amount of qualified equity investment issuance that has been finalized through the new markets tax credit. After that, he talks about state incentives to drive opportunity zones and historic tax credit investments [8:07].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about confirmation of the new FHFA Director Mark Calabria and allocations to the Housing Trust Fund and Capital Magnet Fund [2:27]. He also recaps the first meeting of the White House Opportunity and Revitalization Council and how federal agencies are aligning initiatives with opportunity zones [4:46]. After that, he will discuss the Disaster Opportunity Zones Act, a bill that aims to spur disaster recovery through opportunity fund investments [8:26]. Then, he will share an IRS Revenue Procedure 2019-17, which clarifies a major question about bond-financed housing for special populations [10:59]. Then he briefly shares some news the Housing the Homeless Students Act of 2019 to allow formerly homeless students to live in low-income housing tax credit and HUD Section 202 funded housing. He also talks about congressional support for extending renewable energy tax credits. He closes with state legislative news from West Virginia, Ohio and Mississippi [12:35].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the timing of the release of the 2019 income limits for tax credit and bond financed housing [1:46], a Trump administration memo calling for housing finance reform [2:37], a summary of key congressional hearings [5:38] and forthcoming legislation on opportunity zones reporting requirements [7:46]. He also shares, brief news on new markets tax credit extender legislation cosponsors, an updated FAQs document on new markets credit compliance, federal opportunity zones and homelessness prevention bills and some state bills designed to increase private investment in community development [12:51].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares news on House and Senate hearings on disaster recovery [2:09], tax reform and housing finance reform. He also has an update on the status of the nomination of Mark Calabria as the next Federal Housing Finance Agency director [4:36]. He talks about when Congress may consider tax extender and disaster relief legislation [5:40]. Then, he highlights certain key issues he’s hoping will be addressed in opportunity zones guidance that could help increase investment in underserved areas [7:11]. After that, he has some brief news relating to veteran housing and private activity bonds, low-income housing tax credit and private activity bond allocations for 2019 and HUD inspections. He closes with some state efforts to increase community development and historic preservation investments through tax incentives [12:39].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares news of when listeners could expect the next tranche of opportunity zones guidance [2:35]. He also discusses which housing and community development programs the White House 2020 budget request proposes to cut [8:28]. He has new markets tax credit extenders legislation news [12:10] and program updates [15:27], as well as news about a reintroduced bill that could fund 3.2 million new homes for low- and middle-income families over 10 years [18:15]. After that, he shares some brief news including some state-level legislative updates that could attract more affordable housing, community development and renewable energy investment in those states [19:29].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares the latest legislative efforts to extend and expand the new markets tax credit [2:04]. He also talks about a bill to create infrastructure bonds and infrastructure tax credits [8:20], as well as the status of proposals to expand the renewable energy investment tax credit to include energy storage [9:25]. There is also an upcoming hearing on proposed regulations for the base-erosion and anti-abuse tax, or BEAT for which he will share details [10:38]. He also has an important update on the status of certain historic preservation certification applications under review by the National Park Service [12:12]. He closes with state legislation updates on various tax incentives that could help increase private investment in those states [13:12].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares news about the status of tax extenders and what that could mean for the need to extend 2018 returns [2:12]. He also talks about financing infrastructure reform [7:31] and details about released utility allowance regulations for LIHTC properties [9:41]. From there, he has a brief update on what the confirmation of a new IRS chief counsel means for future tax regulation [11:54]. He also touches on an upcoming affordable housing hearing that could spotlight the Affordable Housing Credit Improvement Act, a LIHTC bill that could be reintroduced soon [13:23]. After that, he discusses how the White House fiscal year 2020 budget proposal could propose cutting HUD and USDA housing program funds. He also has some announcements from HUD on the inclusion of Section 202 contracts in the Rental Assistance Demonstration program and the expected announcement of Housing Trust Fund allocations. He closes with some state news regarding opportunity zones as well as the LIHTC [14:24].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, has news about a high-profile stop on Sen. Tim Scott’s Opportunity Tour, a tour that highlights the opportunity zones tax incentive [2:12]. He also shares news regarding HUD’s announcement last week of an expanded pilot debt program for low-income housing tax credit properties [5:22], as well as a significant shortening of the notification period before a HUD physical inspection [7:57]. After that, he talks about the Senate Banking Committee’s consideration of key nominations, including that of Mark Calabria as the head of the Federal Housing Finance Agency. He also discusses some delayed CDFI Bond Guarantee deadlines. He closes with several state-level updates about low-income housing tax credit, historic tax credit and opportunity zones legislation [8:39].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the enacted appropriations bill for fiscal year 2019 [1:49], last week’s opportunity zones hearing [4:17] and announcements from the CDFI Fund [8:32, 10:12]. He closes with the nomination of Mark Calabria as head of the FHFA, as well as a summary of three introduced state tax bills [10:45].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, will start with a brief update on efforts to prevent another government shutdown [1:20], as a tentative agreement was reached last night. From there, he shares an overview of two important upcoming IRS [3:38] and congressional hearings [7:19], an update on potential infrastructure financing reform [11:51] and a brief tidbit on a recent summary judgement ruling in a low-income housing tax credit disparate impact case [13:12]. He closes with opportunity zones news from New York and low-income housing tax credit news from California [15:39].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with a brief summary of how federal agencies are working to minimize the effects of the government shutdown on affordable housing, community development and historic preservation incentives [3:07]. He then shares an update on a possible legislative vehicle for extending many expired tax provisions, known as tax extenders [11:05]. He follows with news on housing finance reform [13:21]. He closes with news about updated national median income estimates and a request to the IRS to clarify a certain use of multifamily private activity bonds [16:40].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses an agreement to temporarily reopen the federal government, a letter sent to Treasury by the co-sponsors of the Investing in Opportunity Act, a proposal to index capital gains for inflation and highlights from the Novogradac new markets tax credit conference last week. He also shares news about a new House Ways and Means subcommittee on special national interests, an important affordable housing report and introduced legislation to create state tax incentives.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares a congressional letter on how the government shutdown is affecting affordable housing [1:38], updates on the membership of the House Ways and Means Committee [3:27] and the House Financial Service Committee [5:10], news on reforming Fannie Mae and Freddie Mac [6:11], details of an infrastructure bill [7:58], and news on the re-nomination of Michael Desmond as IRS chief counsel and Treasury assistant general counsel [10:37]. He also talks about state legislation news about opportunity zones, affordable housing and historic preservation [12:26].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses new members of the House Ways and Means Committee [2:01], provides an overview of how the government shutdown is affecting various housing and community development programs [3:43], and shares some insights from the Novogradac housing conference in Miami [7:42]. He also has a brief update on California state news on opportunity zones and affordable housing, as well as news about the Solar EDGE Act, a bill to temporarily increase the renewable energy investment tax credit [13:24].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares an update on the government shutdown [1:58], discusses proposed funding for Treasury and HUD, talks about Congressional committee roles and assignments [8:04], and goes over updates on FHFA leadership [11:29] and duty to serve plans for Fannie Mae and Freddie Mac [12:56]. He also has brief news on opportunity zones, IRS regulations and a new markets tax credit report [14:06].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about Congressional committee assignments and leadership changes at the CDFI Fund, FHFA, HUD and Treasury [2:05]. He discusses opportunity zones news [11:13] and proposed regulations for the base-erosion and anti-abuse tax [15:15]. He also provides a brief update on a Montana state low-income housing tax credit proposal and the latest qualified equity investment report from the CDFI Fund [18:38].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, will talk about stop-gap funding for the federal government, the prospects of a “skinny” tax bill, a new co-chairman for the Municipal Finance Caucus and potential changes at Treasury and HUD. He will also discuss a bill to create an affordable housing task force, share a new opportunity zones related resource, as well as outline a report on state historic tax credits.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, will talk about stop-gap funding for the federal government and the prospects of a “skinny” tax bill [1:24], a new co-chairman for the Municipal Finance Caucus [3:59] and potential changes at Treasury and HUD [5:16]. He will also discuss a bill to create an affordable housing task force [6:22], share a new opportunity zones related resource [8:08], as well as outline a report on state historic tax credits [9:12].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about a potential stop-gap funding bill [1:53], the House Republicans’ tax bill [2:31], proposed regulations on the business interest deduction limit [6:14] and requested guidance on opportunity zones [8:20]. He also recaps affordable-housing-related opportunity zones issues discussed at the Novogradac conference last week [12:46]. Then, he provides a brief update on amended regulations for the Affordable Housing Program and an announcement about the CDFI Fund’s Capital Magnet Fund [17:53].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the race for House Speaker [2:16], the Joint Committee on Taxation’s explanation of the 2017 tax law [3:51], the 2018 national pool of low-income housing tax credits [5:42] and the final rule for the Affordable Housing Program [8:41]. He also provides a brief update on operating cost adjustment factors for project-based assistance Section 8 contracts in 2019 [11:41].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about congressional leadership [1:59] and tax-writing committee assignments in the next Congress [3:23], priorities for the lame-duck session [5:20] and a bill that could expand areas eligible to be opportunity zones, the Hurricanes Florence and Michael and California Wildfire Tax Relief Act (S.3468) [8:01]. He also discusses state low-income housing tax credit caps for 2019 [8:45] and he shares a couple of announcements from the CDFI Fund [10:42]. He also provides brief updates related to affordable housing [14:03].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about leadership for the next Congress and what could be coming in the lame-duck session of Congress. He also shares some highlights from the Novogradac Financing Renewable Energy Tax Credits Fall Conference, as well as gives some updates about affordable housing, community development and the Treasury Department.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, hosts a special mid-term election edition of Tax Credit Tuesday. Today’s special edition podcast will focus on the election results and how they affect the various tax credit communities. More specifically, he looks at what the election results could mean for congressional leadership positions, as well as leadership and membership changes in key House and Senate committees. He also talks about legislative priorities we can expect to see in the lame-duck session and in the new Congress.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the upcoming lame-duck session of Congress and what it could mean to tax credit communities [2:27]. He then talks about some opportunity zones news [6:24], as well as recent California guidance affecting some investors in low-income housing tax credit properties [8:18]. He also touches on a two Freddie Mac low-income housing tax credit impact reports and state historic tax credit updates from New Jersey and Minnesota [9:58].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the first major tranche of guidance on opportunity zones [1:23]. He then shares highlights of the Novogradac 2018 New Markets Tax Credit Fall Conference last week in Austin, Texas. He then provides a few updates on other issues, including HUD 2019 QCTs and DDAs, the Seniors Affordable Housing Tax Credit Act (S. 3580), emergency temporary housing and a sponsor milestone for the New Markets Tax Credit Extension Act of 2017 (H.R. 1098).
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, provides an update on opportunity zones regulations [1:42]. He also talks about a draft tax form for claiming the historic tax credit [3:25], the congressional election recess [6:47], state fact sheets on the importance of the low-income housing tax credit [8:47] and the Senior Affordable Housing Tax Credit Act (S. 3580) [11:18]. He closes with other topics such as support for the historic tax credit among November election candidates and a filing extension for taxpayers affected by Hurricane Michael [11:57].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares an update on opportunity zones regulations. He also shares highlights from the Novogradac opportunity zones and affordable housing conferences last week. Other topics he will discuss include Fannie Mae’s proposal to re-enter the low-income housing tax credit equity market, guidance on the Housing Trust Fund and the latest qualified equity investment issuance report from the CDFI Fund.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about a continuing resolution signed last week [1:53] and the latest on Tax Reform 2.0 legislation [2:45]. He also goes over what was discussed last week at the Novogradac 2018 Historic Tax Credit Conference in Nashville [7:35]. He closes with some significant updates on cosponsors for important legislation, as well as several federal bills introduced last week [10:01].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, will discuss the swearing in of Charles Rettig as IRS Commissioner [1:35], as well as a request for IRS guidance on energy investment tax credit technologies [2:09]. Then he moves on to a private-activity bond issuance report [3:21], CDE Certification Applications [7:09] and a new proposal for a distressed zone tax credit [8:03]. He closes with a HUD milestone, a state low-income housing tax credit bill and some announcements from the CDFI Fund [9:32].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks more about Tax Reform 2.0 [1:56], the confirmation of new IRS Commissioner Charles Rettig [5:09], as well as progress toward opportunity zones regulations [6:01]. Next, he talks about the national volume cap report for private-activity bonds. He closes with Ohio state opportunity zones news, income limit estimates, a HUD notice on regulatory relief and an update on a California energy bill [9:42].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses Tax Reform 2.0 could mean for various tax credit communities [3:16]. He also provides an update on the confirmation of a new IRS commissioner [5:22], as well as a letter the U.S. Conference of Mayors sent to Treasury requesting guidance on the opportunity zones incentive [6:22]. Then he shares a brief report on the recent House committee hearing on the cost of multifamily housing development regulations. After that, he talks about a report released by the National Council of State Housing Agencies on the cost of developing LIHTC properties [11:03]. Next, he reviews a recent house hearing on efforts to reform or unwind Fannie and Freddie [16:37], as well as FY 2019 fair market rents [19:28]. Before closing, he shares rural housing news and announcements from HUD and the CDFI Fund [23:09].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts this week’s podcast off with an assessment of possible timeframes when Congress might consider acting on a second round of tax reform [2:11] and the possibility of executive action to index capital gains for inflation [4:27]. Next, he focuses on financial institutions with a review of the opportunity for comment on ways to improve Community Reinvestment Act regulations [7:27], as well as an upcoming House Financial Services Committee hearing on the cost of multifamily housing regulations [9:52]. Next, he discusses HUD news, notably news about fiscal year 2019 fair market rents [12:07]. He closes out with an overview of a new Novogradac blog post that addresses common misconceptions about the low-income housing tax credit, and news about state legislation in California that could mean an increase in renewable energy property development over the next few years [14:20].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses affordable housing legislation recently introduced in Congress: the Middle-Income Housing Tax Credit Act of 2018 [2:11] and the Rent Relief Act of 2018 [5:47]. Then, he discusses the new Section 199A deduction created under the 2017 tax reform legislation [8:07]. After that, he shares other headlines that include efforts to overhaul the Community Reinvestment Act, an interim rule that could result in lower interest rates on housing bond debt and a new report on the importance of the renewable energy production tax credit for growing wind power capacity [14:05].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the intentions of certain Republican Senate Finance Committee members to advance tax reform technical corrections and to encourage Treasury guidance on some of the new tax law changes [1:47]. Then, he moves on to housing, where he talks about a recent fair housing ruling [5:46] and a new bill to promote housing affordability, the Housing, Opportunity, Mobility and Equity Act of 2018 [9:48]. He wraps up today’s podcast with discussion of 2019 difficult-to-develop areas and information about the Capital Magnet Fund [11:11].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the confirmation status of some key Treasury Department nominees [2:55], news about an oversight meeting on the Federal Housing Finance Administration [5:01], proposed regulations on depreciation deduction [5:42] and the 2018 demand for new markets tax credit allocation authority 8:09]. He wraps up today’s podcast with other industry headlines on community development, administration of the Illinois state historic tax credit, an expected low-income housing tax credit report and an update on when to expect opportunity zones guidance [9:47].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares the latest updates on Republican efforts to advance phase two of tax reform [2:12]. After that, he discusses one bill to expand the low-income housing tax credit [5:24] and another bill to expand the new markets tax credit for certain rural areas [8:34]. The introduction of these two bill is a notable milestone to potentially getting them enacted in the fall, setting the stage for their enactment next year. He closes out today’s podcast with other industry headlines, including a blog post on HUD income data and good news for the state historic tax credit programs in Delaware and Illinois [11:04].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, provides an update on the nomination of Charles Rettig as the next IRS commissioner [2:23]. Then, he outlines priority guidance requests from the Opportunity Zones Working Group [4:06]. After that, he discusses several bills related to affordable housing [7:58]. He wraps up today’s podcast with other industry headlines, including a low-income housing tax credit report, a few announcements from the CDFI Fund and news about a proposed Ohio state tax credit [11:17].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, provides an update on Treasury appropriations legislation [2:40] and when listeners can expect Treasury to release opportunity zones guidance [3:20]. Then, he revisits an important discussion on why a tax credit structure for the new markets tax credit subsidy is more efficient than a proposed grant replacement program [6:40]. After that, he discusses information about Fannie Mae and Freddie Mac’s Duty-to-Serve plans [9:49]. He wraps up today’s podcast with an announcement from the CDFI Fund about new markets tax credit allocation application reviewers for 2018 and news about the state historic tax credit programs in Missouri and Delaware [11:20].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares some news about two notices concerning the HUD Rental Assistance Demonstration program [1:39]. He also provides information about a recent Opportunity Zones Coalition letter requesting guidance from the Treasury Department and IRS concerning opportunity zones [5:01]. He wraps up this week’s episode with a roundup of other industry headlines [9:31].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares an announcement from the CDFI Fund on issues with its Community Investment Impact System [1:59]. Then, he provides an update on the status of Republican plans to roll out a second round of proposed tax cuts [2:37]. After that, he shares how a proposal by the Trump administration to reorganize federal agencies could affect departments that administer housing and community development programs [4:18]. He also has a brief recap of the HUD oversight hearing last week for the House Financial Services Committee and discusses a new bill to restore HUD fair housing tools [6:56]. Then, he discusses a quick update on the nomination of a new IRS commissioner [7:43]. He wraps wrap up the episode with a roundup of industry headlines related to opportunity zones and the wind production tax credit [8:19].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares an update on legislation to cut funding for critical affordable housing and community development programs [2:18]. After that, he discusses a Senate committee hearing to consider the nomination of Charles Rettig as the next IRS commissioner [3:41]. Then, he talks about a bill advanced by the Senate Appropriations Committee to provide fiscal year 2019 appropriations for financial services and general government appropriations [5:14], followed by highlights from the annual State of the Nation’s Housing report [6:21]. In renewable energy news, he outlines new guidance from the IRS on begin-construction requirements (Notice 2018-59) for the investment tax credit [8:33]. He wraps up this week’s episode with a roundup of other industry headlines related to opportunity zones, fair housing and a Massachusetts State Supreme Court ruling on a nonprofit’s right of first refusal to purchase a low-income housing tax credit property [9:53].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the latest news on reforming the Community Reinvestment Act [2:10] and some recommendations for the IRS on clarifying income-averaging requirements [3:33]. He also discusses the final round of opportunity zones designations [4:45] and the recently updated opportunity zones frequently asked questions page [5:27]. He also talks about a new bill that could help strengthen the federal historic tax credit [7:32] and he’ll have an update on efforts to increase appropriations for the CDFI Fund [9:14]. Finally, he shares a roundup of other industry headlines, including news about Section 8 renewal funding inflation factors, the 2018 round of the CDFI Bond Guarantee program and more [10:02].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares some insights from the NMTC Coalition’s Bob Rapoza on a possible vehicle for new markets tax credit extender legislation. He also provides updates on the recently revised new markets tax credit allocation application and FAQs document. After that, he discusses the Senate Appropriations Committee’s Transportation-HUD funding bill and efforts by a House Democratic group to increase affordable housing funding. Finally, he shares some news on Housing Trust Fund allocations and new guidance on California’s state low-income housing tax credit.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses a revised low-income housing tax credit Form 8609 that reflects the new income averaging minimum set aside [2:04], as well as how a change in Missouri’s state leadership can affect the state’s low-income housing tax credit and historic tax credit [4:27]. He also talks about changes to the Community Reinvestment Act suggested by a group of Democratic senators [8:08]. Then, he briefly touches on the status of a HUD appropriations bill for 2019 [9:29]. After that, he shares some other affordable housing, community development and historic preservation headlines from the past week [10:48].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about Brian Montgomery’s confirmation as Federal Housing Administration commissioner [2:15]. He also shares details about the recently enacted banking regulatory reform bill (S. 2155) [3:50], about a recent hearing on reforming Fannie Mae and Freddie Mac [5:26], and shares information on a fiscal year 2019 financial services appropriations bill [7:07]. After that, he discusses some important news about the new markets tax credit allocation electronic application. And from there, he provides information about a couple of Financial Services Committee bills and about HUD Capital Fund allocations. He closes with an update on Colorado’s state low-income housing tax credit [8:26].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares some insights from the25th Annual Novogradac Affordable Housing Conference last week [2:41]. Then, he talks briefly about the latest opportunity zone designations [4:50]. After that, he goes over the Housing Choice Voucher Mobility Demonstration Act of 2018 (H.R. 5793) [5:39], some fair housing announcements from HUD [7:10] and a couple of upcoming hearings on tax reform and housing finance reform [7:55]. Then, he shares some state-level news on the Wisconsin state low-income housing tax credit and the Missouri state historic tax credit, as well as an affordable housing resident report [8:52].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, tells listeners what they need to know about the new markets tax credit application period that opened last week [1:22]. He also shares some news about legislation introduced last week to rescind more than $15 billion in budget authority and explains how it affects some housing and community development programs [4:51]. The he discusses an upcoming tax reform hearing [7:37]. After that, he shares some news about fair housing, the 2018 round of the Capital Magnet Fund and the latest qualified equity investment issuance report [9:57].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares the latest on whether listeners might see more tax reform this year [2:00], as well as updates on the population figures used to calculate state low-income housing tax credit allocations [3:59], Housing Trust Fund increases [6:33] and what conference attendees learned about solar tariffs at the Novogradac 2018 Financing Renewable Energy Tax Credits Conference last week [7:16]. After that, he shares a HUD notice about the Rental Assistance Demonstration program, as well as a report on the amount of renewable energy investment tax credits and production tax credits claimed by taxpayers in recent years [9:37].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares some updates on HUD’s Rental Assistance Demonstration program [2:18]. Then, he discusses HUD’s rent reform proposals [5:36], as well two congressional hearings [8:47], [10:20] and what is known about the recent Republican House member retirement that creates a vacancy on the House Ways and Means Committee [11:23]. After that, he shares some good news from Wisconsin about the state historic tax credit. And he closes out with some renewable energy news on to the Protecting American Solar Jobs Act (H.R. 5571), a bill to repeal the 30 percent solar tariff [12:05].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the latest efforts to rescind parts of the $1.3 trillion omnibus spending bill for fiscal year 2018 [2:00]. After that, he briefly touches on a package of bills developed to improve administration of the IRS [5:54]. Then, he discusses a scheduled hearing on the new tax law [6:41] and a recent House Ways and Means Tax Policy Subcommittee roundtable on expiring tax provisions [7:43]. After that, he shares news on new opportunity zone designations, a California housing bill (S.B. 827) and the recently released inflation adjustments for the renewable energy production tax credit [9:19].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses how the Office of Management and Budget might try to roll back billions of dollars from the recent omnibus spending bill [2:12]. He also discusses a new framework for reviewing tax regulations. Then, he touches briefly on a Ways and Means roundtable discussion on expiring tax provisions [4:00]. After that, he outlines a new executive order on work reforms for welfare and housing assistance programs [4:25]. After that, he shares some brief news from HUD on the CDBG disaster recovery program and on Choice Neighborhood planning grants. He also provides an update on rural housing preservation legislation and a quick update on how the renewable energy production tax credit influences national and global wind power capacity [7:15].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares updates on opportunity zone designations [1:33]. He also talks about how the fiscal year 2018 omnibus spending bill affects the low-income housing tax credit [3:32]. Then, he discusses some Treasury recommendations on modernizing the Community Reinvestment Act [6:12] and he’ll have an update on confirming the next commissioner of the FHA [8:55]. After that, he shares some brief news on certain HUD fees, an extended state historic tax credit program and the latest qualified equity investment issuance report for the New Markets Tax Credit program [10:02].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the fiscal year 2018 income limits that were released by HUD last Friday [1:41]. He also discusses the new income-averaging option for low-income housing tax credit properties [8:43]. After that, he shares some brief news on the Cantwell-Hatch low-income housing tax credit bill, requests for more HUD and USDA funding and a proposal to create a new Illinois state historic tax credit [13:25].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the recently passed Consolidated Appropriations Act of 2018 and its provisions regarding the low-income housing tax credit and HUD funding [2:01]. After that, he shares highlights of HUD and GAO reports, followed by some state-level news from California and New York [11:33].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the upcoming federal funding deadline [1:54], a House subcommittee hearing on tax extenders [3:21] and the possibility of a second phase of tax reform [5:15]. After that, he shares a roundup of other headlines from the past week [7:12], including the National Low-Income Housing Coalition’s latest affordable rental housing report, the CDFI Fund’s Capital Magnet Fund awards, a report on federal historic tax credit investments and a bill in Oklahoma that would cap the state’s wind production tax credit.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the possibility of Republicans trying to use an omnibus spending bill as a vehicle for making technical corrections to their tax bill [2:01]. He also discusses a $1 trillion infrastructure plan by a group of nine Senate Democrats [4:26]. Then, he shares a resource for more information on state opportunity zone designations [9:29]. After that, he shares a roundup of other headlines from the past week, including the expected release date of HUD income limits, a proposed tax credit deferral in New York and a New Mexico energy bill [10:46].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the upcoming federal budget deadline and the latest efforts to add affordable housing provisions [1:41]. He also tells listeners how they can participate in some opportunity zone decisions [5:35]. Then he wraps up with some quick headlines, including a policy hearing, HUD grants and an Iowa state bill [7:51].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the Opportunity Zone program created through the December 2017 tax law [02:12] and how the incentive complements long-standing programs, such as the new markets tax credit and low-income housing tax credit [4:31]. He closes with updates on HUD’s small area fair market rents, the creation of an affordable housing funding coalition and some state-level news [7:22].
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares a recap of the calendar year 2017 new markets tax credit allocation awards [1:25], a White House meeting about Opportunity Zones [3:30], the fiscal year 2019 budget request [5:11] and funding for the Housing Trust Fund and Capital Magnet Fund [9:48]. After that, he shares brief summaries of other industry headlines from the past week.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts with a recap of budget legislation that was passed by Congress and signed into law last week. He also discusses the President’s FY 2019 budget released yesterday. He also discusses the debt ceiling, housing finance reform and the 2018-2020 housing goals for Fannie Mae and Freddie Mac. He wraps up with several significant news items from last week, including opportunity zone guidance.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares important updates on the efforts to keep the government funded past this Thursday and the pressing need to address the federal debt limit sooner rather than later. Then, he reviews what is known so far about the Trump administration’s plans for infrastructure reform. He also discusses how a chained consumer price index under the new rules of tax reform could affect low-income housing tax credit allocation amounts and private activity bond caps for this year, 2018. He closes with a roundup of other headlines including the current status of tax extender negotiations and the unconfirmed rumor of a Trump proposal to institute work requirements for certain HUD assistance.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares important new markets tax credit announcements, including an allocation timeline update from the Novogradac New Markets Tax Credit Conference last week. He also discusses other headlines from the past week, including CRA news for community development activities in Hurricane Maria disaster zones.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the government shutdown and its end. He also talks about the future of the Affordable Housing Credit Improvement Act of 2017, now that Rep. Pat Tiberi has stepped down from Congress. He also reveals the new Republican lead for that bill in the House. He closes out with other tax credit headlines over the past week.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the status of federal budget talks and the difficulties in passing a continuing resolution. He also talks about some new tax-related committee assignments in Congress. He closes out with other headlines from the past week.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the status of infrastructure reform and its chances of passing in 2018. Then, he discusses the announced retirements of tax credit advocates, Sen. Orrin Hatch and Rep. Pat Tiberi. He closes out with other headlines from the past week.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses what is on the legislative horizon after tax reform. He also talks about new practices recommended by the National Council of State Housing Agencies. After that, he discusses a recent ruling on the implementation of HUD’s small area fair market rent rule. Then, he wraps up with a rundown of other headlines from the past week.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses tax reform legislation and how individual provisions could affect tax credits. He also discusses the Joint Center for Housing Studies at Harvard University’s, “America’s Rental Housing 2017” report. He shares HUD’s announcement on small area fair market rents. In addition, he discusses Capital Magnet Fund application information, and he closes out with some information on a new Missouri state bill.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the new unofficial tax reform deadline of Dec. 22, as well as the appointed members of the House and Senate conference to negotiate a final tax bill. He also discusses the corporate alternative minimum tax rate, as well as the base erosion and anti-abuse tax. In other news, he discusses HUD’s new report on homelessness, as well as the New Markets Tax Credit Coalition’s new economic impact report of the NMTC program.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the latest news in tax reform. He also discusses a Bipartisan Policy Center report, the swearing in of Joseph Otting as Comptroller of the Currency and the nomination of Jelena McWilliams, as well as the latest QEI Issuance Report
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the latest news in tax reform. He also discusses the state of the Missouri state low-income housing tax credit and the reentry of Fannie Mae and Freddie Mac into the low-income housing tax credit investment market.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the progress of tax reform. He discusses the major strides both the House and Senate made toward the Republican goal of enacting tax reform this year. He also says what those legislative developments mean for affordable housing, community development, historic preservation and renewable energy.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the Senate Republican tax reform bill and what the proposed legislation could mean for low-income housing tax credits, private activity bonds, the new markets tax credit, the historic rehabilitation tax credit and renewable energy tax credits.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the House Republican tax reform bill, the Tax Cuts and Jobs Act (H.R.1) and what the proposed legislation could mean for low-income housing tax credits, private activity bonds, the new markets tax credit, the historic rehabilitation tax credit and renewable energy tax credits.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the major tax bill expected to be released tomorrow and the legislative hurdles that were cleared to get to this point. After that, he discusses a proposal to combine various tax credits into one program and why that is potentially a bad idea. He closes out with other tax-credit related headlines, including the nomination status of three HUD appointees, an extension for 2015 qualified census tracts (QCTs) and difficult development areas (DDAs), as well as a video of President Ronald Reagan voicing his support for the federal historic tax credit.
In this Special 10th Anniversary Edition of the Novogradac Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, shares his favorite podcast highlights over the past decade, including an excerpt from the first episode, which features then-CDFI Fund Director Kimberly Reed. The episode also includes special messages from former Congressman Rick Lazio, David Gasson of Boston Capital, Merrill Hoopengardner of the National Trust Community Investment Corporation and Michael Bodaken of the National Housing Trust.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the Senate-passed budget resolution, a big step that Republicans took last week toward enacting tax reform. In other news, he also shares insights from the CDFI Fund’s New Markets Tax Credit program manager Bob Ibanez on when to expect 2017 allocation awards to be announced. He wraps up today’s podcast with other tax-credit related headlines, including 2018 low-income housing tax credit and bond caps, as well as low-income housing tax credit national pool amounts for 2017.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses HUD Secretary Ben Carson’s first appearance before the House Financial Services Committee last week. He wraps up today’s podcast with other tax-credit related headlines, including information on a budget resolution vote as it relates to tax reform, California wildfire tax relief, the Oklahoma Affordable Housing Tax Credit program and the EPA administrator’s comments on eliminating the renewable energy investment and production tax credits.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the status of the Move America Act, an infrastructure package in Congress and share highlights from last week’s House Financial Services Committee hearing that focused on housing finance reform, including Fannie Mae and Freddie Mac. He closes out today’s podcast with other affordable housing and community development headlines, including some significant state-level news from California and Wisconsin.
In this week’s Special Tax Reform Edition of the Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the significance of the Republican tax reform framework released last week and what it could mean for the affordable housing, community development, historic rehabilitation and renewable energy communities. After that, he discusses the next steps and what listeners can expect if or when tax reform is enacted. Along the way, he shares some insights into how these proposed changes could affect various tax credit communities. He invites listeners to submit questions or other insights to cpas@novoco.com.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he provides an update as to what to expect on tax reform this week. He also shares updates on a Senate Finance Committee business tax reform hearing and tax reform retreats by House Republicans and the Ways and Means Committee. He also shares the latest disaster relief announcements from the IRS and HUD. In the affordable housing section, he discusses HUD Secretary Ben Carson’s recent op-ed on policy reforms he plans to make. Then, he highlights a few proposed regulations for California’s Low-Income Housing Tax Credit program. In new markets tax credit news, he discusses how listeners can submit comments on the CDFI Fund’s reporting system, CIIS. He closes out with a troubling state historic tax credit development in Wisconsin and why developers there have about 10 months to prepare for a significant program change.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with significant news about the timeline for tax reform. He also shares good news on the nominations of Pam Patenaude as HUD deputy secretary and Brian Montgomery as FHA commissioner. After that, he provides an update on disaster relief for taxpayers affected by Hurricane Irma. On the affordable housing front, he shares details about private activity bond issuance for affordable rental housing in 2016. He also has information for listeners about the 2018 qualified census tracts and difficult development areas. He discusses the LIHTC Working Group’s comments on the National Council of State Housing Agencies’ proposed revisions to its Recommended Practices in Housing Credit Administration. And in state housing news, he provides an update on California S.B. 2 and S.B.3, legislation that could increase the development and preservation of affordable housing. He closes out with state historic tax credit news from Wisconsin.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he shares big news on Hurricane Harvey assistance, the debt ceiling and a continuing resolution. He also provides news regarding the reintroduction of the National Disaster Tax relief Act (H.R. 3679), a bill that would incentivize investments in areas affected by natural disasters. After that, he discusses the latest news on tax reform and shares an update on changes in membership that is coming to the Ways and Means Committee after next year’s elections. He shares a status update on the nominations of Pam Patenaude as HUD assistant secretary and of Paul Compton as HUD general counsel. He closes with an updated resource on low-income housing tax credit investments from the ACTION Campaign.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the status of tax reform efforts and legislative options for a continuing resolution and raising the debt limit, which must be addressed this month. He also provides a short update on amendments filed to Transportation-HUD and other spending bills. Then, he discusses fiscal year 2018 fair market rents and a slate of state bills that could increase funding for affordable housing in California. Next, he shares good news from Illinois, where the state new markets tax credit was extended through S.B.625. He closes out with the National Renewable Energy Laboratory’s “Wind Energy Finance in the United States: Current Practice and Opportunities,” an informative report on wind energy investments.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he discusses the latest in tax reform efforts. He also touches on upcoming deadlines to keep the government funded through the next fiscal year and to raise the federal debt ceiling. In low-income housing tax credit news, he shares good news regarding an increase in the Rental Assistance Demonstration program cap, and he also talks about the Rent Relief Act, a bill that has been introduced in Congress that would create a federal renter tax credit. He closes out with news on a proposed cap for the Wisconsin state historic tax credit.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he discusses the latest in tax reform efforts. He also talks about the canceling of a planned presidential infrastructure advisory council. In low-income housing tax credit news, he discusses a change to when HUD’s new small-area fair market rent designations will go into effect. In new markets tax credit news, he talks about the NMTC Working Group’s tax reform recommendations to the Senate Finance Committee. And, he shares the CDFI Fund’s latest qualified equity investment issuance report. He closes with an update on the Illinois state historic tax credit extension bill and on a court ruling that could mean good news for New York State historic tax credit investments.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section where he talks about what GOP leaders are doing to keep alive their goal of advancing tax reform legislation this fall after they return from August recess. Then, he discusses a budget resolution and debt ceiling, two major items on the congressional agenda that are crowding the calendar for tax reform. In low-income housing tax credit news, he discusses a report by HUD on the nation’s worst-case housing needs. In new markets tax credit news, he outlines a program update from the CDFI Fund on applications submitted for the 2017 round of the new markets tax credit. He closes with historic tax credit news, where he is talks about Illinois S.B. 1783, a state bill that could extend the Illinois state historic tax credit for another four years.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he outlines President Trump’s executive order to create an infrastructure council. Then, he provides listeners with more details on last week’s Senate Finance Committee hearing on tax reform and affordable housing. After that, he talks about Senate Finance Committee Chairman Orrin Hatch’s plan for a tax reform legislation markup after the August recess. Then, he shares the Trump administration appointees who were confirmed by the Senate last week. In low-income housing tax credit news, he discusses a new Notes from Novogradac blog post that discusses the difficult development areas for 2018. Then, he outlines the newly introduced Smoke-Free Affordable Housing Act (H.R. 3322), which would give low-income housing tax credit allocation preference to non-smoking developments. In new markets tax credit news, he reviews a new markets tax credit compliance report commissioned by the CDFI Fund. In historic tax credit news, he shares a state report on the economic effects of the Louisiana state historic tax credit. He closes out with renewable energy tax credit news on Senate Bill 1672, which would create an investment tax credit for offshore window projects.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with a packed general section this week. He talks about the failed effort to repeal parts of Obamacare in the Senate and how that affects Republican approaches to tax reform. He provides an overview of the Senate Finance Committee affordable housing hearing held today. Then, he talks about fiscal year 2018 appropriations for the Departments of Transportation, Housing and Urban Development and Related Agencies. After that, he lists the HUD and Treasury nominations that were recently voted on to advance. In low-income housing tax credit news, he’ll discuss what California’s extended cap-and-trade program could mean for affordable housing. In new markets tax credit news, he shares highlights from the New Markets Tax Credit Coalition’s report on the importance of the new markets tax credit in rural communities. He closes out with historic tax credit news, where he discusses an upcoming deadline for Rhode Island state historic tax credit participants and how listeners can register for the Novogradac 2017 Historic Tax Credit Conference.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section and an update on a Senate vote to proceed on healthcare legislation passed by the House. Then, he talks about how a House Budget Committee resolution can set the stage for tax reform. After that, he goes over a recent tax policy subcommittee’s tax reform hearing and what industry groups are advocating in letters to Senate Finance Committee Chairman Orrin Hatch. Then, he briefly discusses last week’s Senate Finance Committee tax reform hearing and the committee’s vote to advance the nomination of David Kautter as Treasury Assistant Secretary for Tax Policy. In low-income housing tax credit news, he shares what HUD Secretary Ben Carson plans to do with the Affirmatively Furthering Fair Housing rule. Then, he lists some of the affordable housing advocacy activities coming up for National Housing Week of Action. In new markets tax credit news, he shares an important reminder about upcoming application deadlines for the CDFI Fund’s Capital Magnet Fund round. He closes out with renewable energy tax credit news, where he discusses the Technologies for Energy Security Act (H.R. 1090), a bill that would extend the investment tax credit for certain orphaned renewable energy technologies.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section where he talks about everything from a potential omnibus spending bill and appropriations for Transportation, Housing and Urban Development and related agencies to the White House’s tax plan timeline. He also discusses an upcoming House Ways and Means Committee hearing on tax reform and how the U.S. Conference of Mayors is asking legislators to invest in affordable housing, community development and clean energy. In low-income housing tax credit news, he provides a cosponsor update on both the House and Senate versions of the Affordable Housing Credit Improvement Act of 2017 (H.R. 1661, S. 548). In new markets tax credit news, he relays another deadline extension from the CDFI Fund to submit required reports for certain programs, including the new markets tax credit. Then, he shares the monthly qualified equity investment issuance report. In historic tax credit news, he touches briefly on an upcoming meeting for the Advisory Council on Historic Preservation and he provides listeners with an update on the status of state historic tax credit investments in Rhode Island.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about factors affecting the timing of tax reform. He also shares the results of Novogradac’stax reform Twitter poll.After that, he has updates from the House Appropriations Committee. In low-income housing tax credit news, he outlines the FHFA’s proposed annual housing goals for Fannie Mae and Freddie Mac. Next, he shares news about Novogradac & Company’s updated Rent and Income Limit Calculator. Then, he outlines the Public Housing Tenant Protection and Reinvestment Act of 2017.Next, he talks about the updated Section 8 Renewal Policy Guide .After that, he briefly discusses California S.B. 2.In new markets tax credit news, he shares an invitation for comment on the NMTC application. Then, he shares about upcoming deadlines for the Capital Magnet Fund. In historic tax credit news, he talks about the future of the state low-income housing tax credit and the state historic tax credit in Missouri. He closes with Michigan, S.B. 469.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he talks about progress on a health care bill that could clear more room on the congressional calendar for tax reform, if the bill passes. On the topic of tax reform, he shares what House Speaker Paul Ryan said last week on his expectations of what tax reform will look like and when it can be enacted. He also discusses one of the other major items on the congressional to-do list: raising the debt ceiling. After that, he talks about why some members of Congress are calling for a cancellation of the August recess. Then, he touches briefly on potential timing for banking regulatory reform and housing finance reform. In new markets tax credit news, he shares two updates from the CDFI Fund. One is a reporting deadline extension and the other is a call for applicants to review the 2017 round of the new markets tax credit. In historic tax credit news, he talks about an upcoming change to the timing of when state historic tax credit projects can be certified in Ohio. He closes out with renewable energy tax credit news, where I’ll discuss a potential legislative vehicle that could extend the investment tax credit for orphaned technologies.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he talks about Sen. Orrin Hatch’s call for stakeholder feedback on tax reform. Then, he discusses the appointments of Kipp Kranbuhl and Jared Sawyer to Treasury Department staff. After that, he provides listeners with an update on the nomination of Pam Patenaude as HUD deputy secretary. He also shares proposed partnership audit rule changes. In low-income housing tax credit news, he highlights findings from two reports: one is the Federal Housing Finance Agency’s annual report to Congress and the other is the 2017 State of the Nation’s Housing report. He then touches briefly on HUD’s announced fiscal year 2017 allocations for the Office of Community Planning and Development grant programs. In new markets tax credit news, he talks about upcoming program deadlines and he shares what CDFI Fund Director Annie Donovan said about when to expect the 2017 NMTC award announcement.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he covers HUD Secretary Ben Carson’s appearances last week before important subcommittees in both the House and the Senate to talk about President Trump’s budget request. I’ll also share what Pam Patenaude told the Senate Banking Committee during a hearing on her nomination as HUD deputy secretary. Then, he discusses President Trump’s nomination of Joseph Otting to head the Office of Comptroller of the Currency. He also touches on the Financial Choice Act (H.R. 10), a significant banking regulation bill that the House passed last week to repeal and replace the Dodd-Frank Act. In low-income housing tax credit news, he tells listeners about the National Low-Income Housing Coalition’s recently released, annual, Out of Reach Report. He also shares the steps being taken by an important affordable housing advocacy group to encourage the House Ways and Means Committee to expand the low-income housing tax credit. In new markets tax credit news, he provides details from an annual progress report by the New Markets Tax Credit Coalition, as well as information about the New Markets Tax Credit Working Group’s latest comment letter to the IRS concerning this year’s priority guidance plan. In historic tax credit news, he shares an update on an Illinois state historic tax credit bill (S.B. 1783) that awaits the governor’s signature for a significant extension. And in renewable energy tax credit news, he shares some news about the American Wind Energy Association’s (AWEA’s) announcement that it won’t push for another extension of the production tax credit. Finally, he discusses the Solar Energy Industries Association’s latest quarterly report on solar energy.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section, where he shares news on the Trump administration’s plans to release a detailed tax plan. Then, he discusses one path that House appropriators are considering for passing 12 appropriations bills for fiscal year 2018. After that, he announces two congressional hearings. One is in the House Appropriations Subcommittee on Transportation, Housing and Urban Development and Related Agencies and concerns the Trump administration’s proposed fiscal year 2018 budget. The other is in the Senate Committee on Banking, Housing and Urban Affairs on the nomination of Pam Patenaude as HUD deputy secretary. In affordable housing news, he discusses a new methodology proposed by HUD on calculating fair market rents. Then, he outlines a Louisiana state court decision on affordable housing property valuations that could have significant consequences for affordable housing in New Orleans. He closes out with historic tax credit news, where he shares good news from Alabama and Louisiana.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about last week’s House Ways and Means Committee hearing on the president’s proposed budget for fiscal year 2018. He recaps the testimony of sole witness Treasury Secretary Steve Mnuchin. Then, he discusses the Move America Act of 2017, a bill that would authorize additional tax-exempt bond allocation as well as a new tax credit to fund infrastructure projects. In new markets tax credit news, he outlines some of the topics added to the CDFI Fund’s list of frequently asked questions regarding the 2017 NMTC allocation application. After that, he closes out with the latest qualified equity investment issuance report and a CDFI Fund blog post on eligible uses of Capital Magnet Fund awards. In historic tax credit news, he shares a sign-on letter urging congressional leaders to retain and enhance the historic tax credit in tax reform. Then, he outlines the School Infrastructure Modernization Act, a bill that involves the historic tax credit and historic schools.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he shares what is known about the budget proposal for 2018 that President Donald Trump’s administration will release today, including some affordable housing programs that will reportedly see cuts. He also talks about the first of a series of hearings about tax reform that the House Ways and Means Committee conducted last week and will let listeners know what topic they will discuss today. In low-income housing tax credit news, he discusses some new cosponsors for the Affordable Housing Credit Improvement Act of 2017 in both houses of Congress and let listeners know which co-sponsors are members of the influential Ways and Means Committee and Senate Finance Committee. He also shares recent Section 1602 audits of Rhode Island and Arkansas.. In historic tax credit news, he talks about the latest effort by legislators in West Virginia to pass a significant increase to their state historic tax credit percentage and what hurdles remain for it. He closes out with the renewable energy tax credit section, where he discusses legislation introduced again in Congress to extend the investment tax credit for offshore wind.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about President Donald Trump’s nominees for two key posts: the Assistant Secretary of the Treasury for Tax Policy and the commissioner of the Federal Housing Administration. He also discusses when to expect the Congressional Budget Office and Joint Committee on Taxation to release its updated cost estimate for the American Health Care Act—and how that affects tax reform efforts. After that, he shares information about this week’s House Ways and Means Committee hearing on tax reform. In low-income housing tax credit news, he discusses the Federal Housing Finance Agency’s two recent announcements concerning the role of Fannie Mae and Freddie Mac in the low-income housing tax credit market. After that, he shares news from the California Debt Limit Allocation Committee on its meeting date to discuss tax-exempt bond allocations. He closes out with historic tax credit news where he provides listeners with an update on Alabama H.B. 345, legislation to extend the Alabama state historic tax credit
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section, where he talks about how the House’s recent passage of a health care reform bill affects efforts to advance tax reform legislation. In low-income housing tax credit news, he discusses a teleconference and web conference series hosted by the U.S. Department of Agriculture that’s designed to enhance its multifamily housing program. Then, he shares the results of a recent poll on how voters feel about keeping tax incentives in tax reform, including the low-income housing tax credit. After that, he discusses a bill that would create a Maine state low-income housing tax credit. In the new markets tax credit section, he talks about the official opening of the calendar year 2017 new markets tax credit allocation round and which deadlines you should mark on your calendar. He closes out with renewable energy tax credit news, where he discusses a bill introduced by Sen. Ron Wyden that would create a new renewable energy tax credit program that is technology neutral and would extend expired or expiring clean energy incentives through the end of 2018.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off withthe general news section, where he talks about the $1 trillion omnibus spending bill that Congress is negotiating this week to keep the government funded through the end of fiscal year 2017. He also discusses President Donald Trump’s tax plan outline and how it compares to the priorities of Republican leaders in Congress. In low-income housing tax credit news, he announces the nomination of Pam Patenaude as HUD deputy secretary. He also shares what HUD Secretary Ben Carson said about the low-income housing tax credit and when listeners can expect him to release his housing agenda. Then, he discusses how listeners can access the updated Novogradac Rent & Income Limit Calculator. In the new markets tax credit section, he discusses the tentative timeframe for opening the fiscal year 2017 round of the Capital Magnet Fund. He also shares the CDFI Fund’s request for comment on the annual report required of new markets tax credit and CDFI program participants. He closes out with historic tax credit news, where he talks about a notice from the IRS on conservation easement transactions that may inadvertently affect certain historic tax credit projects.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section, where he talks about efforts to keep the government funded past Friday, when the continuing resolution expires. He also discusses the latest updates from Washington on tax reform efforts. In addition, he shares the IRS’ invitation to submit comments on the 2017-2018 priority guidance plan. In low-income housing tax credit news, he continues last week’s discussion about the release of the fiscal year 2017 income limits. In the new markets tax credit section, he provides an update on the New Markets Tax Credit Extension Act of 2017. Then, he shares information from the latest qualified equity investment issuance report and how listeners can get notified as soon as the notice of allocation authority is released for the next new markets tax credit allocation round. He closes out with the renewable energy tax credit news section, where he shares two state legislation updates: one from Maryland and the other from Oklahoma.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he reviews the latest efforts to enact tax reform and the major stumbling blocks that are currently preventing it from moving forward. He also provides a short update on the status of funding the federal government, as the continuing resolution is scheduled to expire at the end of next week. In low-income housing tax credit news, he talks about HUD’s recent release of the fiscal year 2017 income limits and some of his initial observations. He also discusses recent report findings by HUD about low-income housing tax credit tenants, and after that he shares some insights with listeners from Novogradac’s newest edition of the Novogradac Multifamily Rental Housing Operating Expense Report. He closes out with new markets tax credit news, where he discusses A.B. 1715, a bill to create a California state new markets tax credit.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he provides an update on congressional priorities once lawmakers return from their spring recess. Namely, where does Congress stand on avoiding a government shutdown and how close or far are legislators from tackling tax reform? Then, he shares what HUD Secretary Ben Carson said last week about the Trump administration’s proposed cuts to affordable housing and community development programs. After that, he shares what Rep. Maxine Waters is doing to challenge those proposed cuts to HUD funding. In low-income housing tax credit news, he talks about last week’s American Enterprise Institute Conference on Housing Affordability. Then, he outlines what the California Debt Limit Allocation Committee is doing to adjust for the disruption in the low-income housing tax credit debt and equity market. He closes out with our renewable energy tax credit section, where he goes over the National Resources Defense Council’s “Engine of Growth: The Extensions of Renewable Energy Tax Credits will Power Huge Gains in the Clean Energy Economy ,”a report that compares how the energy sector and the economy would be different with and without renewable energy tax credits.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he discusses President Donald Trump’s budget request for fiscal year 2018 and how his administration’s supplemental fiscal year 2017 request could affect affordable housing and community development programs. He also talks about Trump’s recent executive order concerning the Clean Power Plan and how that could affect renewable energy tax credits. In low-income housing tax credit news, he goes over affordable housing highlights featured in a recent newsletter from the Office of the Comptroller of the Currency. Then, he discusses Georgia H.B. 196 that was passed that would change how fair market values of low-income housing tax credit properties are determined. He also talks about Massachusetts’ new Community Scale Housing Initiative program to help build and preserve affordable housing. In new markets tax credit news, he outlines Mississippi’s recent state new markets tax credit extension. He closes out with the historic tax credit section, where he discusses Virginia’s newly enacted state historic tax credit annual cap of $5 million per taxpayer.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he discusses what happened to the Republicans’ high-profile efforts to repeal and replace Obamacare last week and the effect their failure could have on the prospect of comprehensive tax reform. In low-income housing tax credit news, he tells listeners about the introduction of the House version of the Affordable Housing Credit Improvement Act and how it differs from the Senate version of the bill. He also gives an update on legislation in Utah HB 36, which would expand the state low-income housing tax credit. In the historic tax credit section, he shares an update on the Historic Tax Credit Improvement Act cosponsors, including how many of them are on the powerful tax-writing committees in the House and Senate. He closes out with the renewable energy tax credit section where he discusses a state-level bill that extends the popular Massachusetts Solar Renewable Energy Credit 2 program, while a long-term replacement is sought.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he discusses the Trump administration’s fiscal year 2018 budget request blueprint and what it could mean for affordable housing and community development. He also discusses Treasury Secretary Steven Mnuchin’s choice of Justin Muzinich for his counselor on tax reform. Then, he provides an update on HUD Secretary Ben Carson’s listening tour. In low-income housing tax credit news, he discusses a report on low-income housing tax credit developments in the San Francisco Bay Area. In new markets tax credit news, he reviews a study of Maine’s state new markets tax credit and how it can be improved. In the historic tax credit section, he discusses the Advisory Council on Historic Preservation’s recent report on the National Historic Preservation program. Then, he has some state news from Alabama and Arkansas. Alabama took one step closer to reinstating its state historic tax credit through H.B. 345 and S.B. 262. Arkansas will soon see an increase in its state historic tax credit per-project cap with the passage of S.B. 253. He closes out with the renewable energy tax credit section, where he shares what Rep. Tom Reed has to say about the renewable energy production tax credit. After that, he outlines Oklahoma H.B. 2298, which could end the state renewable energy production tax credit.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section, where he talks about a report on what will be included in President Donald Trump’s 2018 federal budget proposal that will be released this week. He also discusses what the Senate majority leader said last week about the timeline for tax reform and how it differs from what was said by Treasury Secretary Steve Mnuchin. In low-income housing tax credit news, he discusses two housing reports. One is from the office of Sen. Maria Cantwell, who introduced the Affordable Housing Credit Improvement Act with Sen. Orrin Hatch last week. The other housing report is by the National Low Income Housing Coalition. After that, he talks about what the District of Columbia is doing to address uncertainty in the low-income housing tax credit equity market. In new markets tax credit news, he provides a cosponsor update on the New Markets Tax Credit Extension Act of 2017. He closes out with the historic tax credit section, where he shares some important guidance issued by the National Park Service about functionally related buildings in multiple-building projects. He also gives highlights of the annual National Park Service report on the historic tax credit, including a record that was set in 2016. And he concludes with information about a Nebraska LB 475, a bill introduced to end the state historic tax credit.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about President Donald Trump’s first address to a joint session of Congress. He then discusses the recent confirmation of Ben Carson as Secretary of the U.S. Department of Housing and Urban Development (HUD). In the low-income housing tax credit (LIHTC) section, he outlines the Affordable Housing Credit Improvement Act. He also discusses in detail what IRS resident population estimates mean for states’ low-income housing tax credit and tax-exempt private activity bond ceilings. Then, he shares a GAO report, “Low-Income Housing Tax Credit: The Role of Syndicators.” After that, he discusses Minnesota SF 1181, a bill to create a Minnesota state low-income housing tax credit. In historic tax credit news, he talks about Alabama H.B. 345 and S.B. 262, legislation to reinstate the Alabama state historic tax credit. He closes out with renewable energy tax credit news, where he discusses Maryland S.B. 926, a bill to create a state renewable energy investment tax credit.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about Treasury Secretary Steve Mnuchin’s tax reform timeline. He also discusses when the House Appropriations Subcommittee on Transportation, Housing and Urban Development and Related Agencies (T-HUD) may consider a new fiscal year 2017 spending bill. In low-income housing tax credit news, he talks about the recently released 2017 calendar year resident population figures. He also discusses a sign-on letter from the Affordable Rental Housing ACTION Campaign. Then he details the Housing for Homeless Students Act of 2017. In new markets tax credit news, he discusses a CDFI Coalition and NMTC Coalition advocacy letter sent to Mnuchin. Then, he summarizes the latest qualified equity investment (QEI) issuance report. After that, he shares CDFI Bond Guarantee program deadlines. He closes with historic tax credit news, where he talks about West Virginia’s H.B. 2545, which would increase the state historic tax credit from 10 percent to 25 percent.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about the recent confirmation of new Treasury Secretary Steve Mnuchin and what some of the priority items are on his to-do list. He also discusses the House Ways and Means Committee’s newest member, Mike Bishop. In low-income housing tax credit news, he shares information on the Common Sense Housing Investment Act of 2017, a bill that would reduce the mortgage interest deduction and increase funding for affordable housing. He also discusses public comments on IRS Notice 2016-77. Then he provides details about an upcoming conference call to discuss certificating California state low-income housing tax credits. In new markets tax credit news, he discusses the New Markets Tax Credit Extension Act of 2017, a long-awaited bill to expand and make permanent the federal new markets tax credit. In addition, he outlines a bill to create a state new markets tax credit in Minnesota. He closes out with the historic tax credit section, where he discusses the recently introduced Historic Tax Credit Improvement Act of 2017.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he talks about the appointment of California Democrat Judy Chu to the House Ways and Means Committee. He also provides an update on when there might be tax reform. In low-income housing tax credit news, he has two announcements from the California Tax Credit Allocation Committee. One is an update to the state’s proposed hybrid 9 percent-4 percent low-income housing tax credit. The other announcement is a reminder about the tenant demographic data collection deadline for all low-income housing tax credit properties in California. In new markets tax credit news, he discusses updates to the CDFI Fund’s new markets tax credit certification, compliance monitoring and evaluation FAQs. He also shares some highlights from the CDFI Fund’s fiscal year 2016 in review. He closes out with the historic tax credit section, where he discusses Virginia bill S.B. 1034, legislation that could create a cap on the amount of state historic tax credit that taxpayers can claim per year.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about the confirmation status of Treasury Secretary nominee Steve Mnuchin. He also discusses congressional support for keeping the tax-exempt status of municipal bonds. Then, he discusses the Joint Committee on Taxation’s estimates of expenditures for fiscal years, 2016-2020–including estimates for the low-income housing tax credit, new markets tax credit, historic tax credit and renewable energy tax credits. In low-income housing tax credit news, he shares information about Utah H.B. 36, a bill that would nearly triple Utah’s state low-income housing tax credit annual program cap. In new markets tax credit news, he talks about the Investing in Opportunity Act, a bill reintroduced in Congress that would allow taxpayers to defer capital gains taxes on investments in opportunity zones. He also tells listeners about two reports on native communities and their access to capital and credit. In the historic tax credit section, he shares why the Advisory Council on Historic Preservation’s chairman is endorsing the historic tax credit and what his support could mean for the program in tax reform.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he talks about what Treasury Secretary nominee Steven Mnuchin said about tax credits in his written response to questions from members of the Senate Finance Committee. He also has an update on the confirmation of Dr. Ben Carson as Secretary of the Department of Housing and Urban Development. Then he shares news about House Ways and Means Committee member Rep. Lynn Jenkins, R-Kan., and her announced plans to retire after the 115th Congress. In low-income housing tax credit news, he discusses an unusual hybrid 4 percent- 9 percent low-income housing tax credit plan proposed by the California Tax Credit Allocation Committee as a response to a disrupted low-income housing tax credit equity market. In new markets tax credit news, he talks about a deadline extension to sign the New Markets Tax Credit Coalition’s letter to Congress. And he shares information about a tool that can help qualified active low-income community businesses request new markets tax credits from community development entities. In the historic tax credit section, he gives an overview of some upcoming deadlines for Ohio’s next state historic tax credit allocation round. He closes out with the renewable energy tax credit section, where he discusses the Protection of Military Airfields from Wind Turbine Encroachment Act, two companion bills that were introduced to disallow a renewable energy investment tax credit or production tax credit for new wind turbines built near certain military properties.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section with news about Treasury Secretary nominee Steven Mnuchin’s highly anticipated Senate confirmation hearing last week. In low-income housing tax credit news, he talks about the state of the low-income housing tax credit equity market and what states like Ohio are doing to fill the equity shortfall. He also discusses implementation of the Housing Opportunity through Modernization Act of 2016 and expansion of HUD’s Moving to Work program. He outlines President Donald Trump’s suspension of a decrease in the Federal Housing Administration’s mortgage insurance premium. He then talks about the 2017 poverty guidelines released by the Department of Health and Human Services, which allow HUD to calculate its income limits. In new markets tax credit news, he discusses the latest qualified equity investment issuance report and the fiscal year 2017 rounds of the CDFI program and Native CDFI program. In renewable energy tax credit news, he discusses Marathon Capital’s report, “U.S. Federal Corporate Tax Reform: Potential Impact on U.S. Renewable Energy Financing.” Then, he details New Mexico’s recently introduced solar investment tax credit bill, HB 82.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section with news about HUD Secretary nominee Ben Carson’s highly anticipated Senate confirmation hearing last week. He provides details on where Carson stands on fair housing, HUD programs and the low-income housing tax credit. He then discusses Rep. Lloyd Doggett’s appointment as the new ranking member of the House Ways and Means Tax Policy Subcommittee. After that, he shares a brief update about the House Ways and Means Committee’s energy tax reform working group. In low-income housing tax credit news, he talks about the report, “California’s Housing Future: Challenges and Opportunities” and what it had to say about how the federal and state low-income housing tax credit can help California address its housing challenges. In new markets tax credit news, he discusses the Creating Opportunities for Rural Communities Act, legislation that was reintroduced in the House (H.R. 405) and Senate (S. 76) to direct more investments to coal communities affected by job losses. Then, he has details about the next Community Development Advisory Board Meeting. He also has an update on the New Markets Tax Credit Coalition sign-on letter in support of expanding and making permanent the New Markets Tax Credit program. In historic tax credit news, he talks about Novogradac’s recent blog post on how tax reform would affect historic tax credit investments. He closes out with renewable energy tax credit news, where he discusses a Virginia bill to create a state renewable energy property credit.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section with news from a busy first week of Congress. He discusses committee leadership appointments and new members of the House and Senate tax-writing committees. He also shares updates on what House Republicans are doing to prepare for writing tax reform legislative language. After that, he reviews more information about HUD Secretary nominee Ben Carson’s scheduled confirmation hearing with the Senate Committee on Banking, Housing and Urban Affairs. And he outlines what outgoing HUD Secretary Julián Castro had to say about the importance of affordable housing–and more specifically, the importance of the low-income housing tax credit. In low-income housing tax credit news, he talks about what a recent Wisconsin Supreme Court ruling on property valuation means for affordable housing in the state. In new markets tax credit news, he shares how listeners can submit comments to the CDFI Fund on its new markets tax credit draft 2018 allocation application and on its CDFI certification requirements. He also shares how to sign a NMTC Coalition letter to Congress in support of expanding and making permanent the new markets tax credit. He closes out with renewable energy tax credit news, where he discusses how two solar industry groups have joined forces to increase capital for solar energy.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he talks about current tax reform and how lowering the corporate tax rate could mean a loss of up to $2.2 billion or more in equity annually for affordable housing. In low-income housing tax credit news, he discusses how Minnesota’s state allocating agency has extended its application deadlines as a response to the equity market disruption caused by potential tax reform. Then, he shares how the 2017 annual adjustment factors for certain Section 8 contracts compare to those of 2016. He closes out with our historic tax credit section, where he’ll have encouraging news about Oklahoma’s popular state historic tax credit.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he talks about potential assignments for the tax-writing Senate Finance Committee and House Ways and Means Committee in the next Congress. He also shares news about an upcoming Novogradac webinar on what the election means for affordable housing and community development. In low-income housing tax credit news, he discusses HUD’s fiscal year 2017 annual adjustment factors for Housing Assistance Payment contracts. Then, he has two updates from California, where lawmakers have introduced a bill to boost the state low-income housing tax credit to $300 million per year. He also talks about an announcement from California’s state allocating agency that it will extend the 2016 low-income housing tax credit readiness deadlines for its state program. In new markets tax credit news, he discusses some changes that the CDFI Fund is making to its allocation agreement. He also shares the CDFI Fund’s monthly qualified equity investment issuance report. He concludes with our historic tax credit section, where he talks about the overwhelming support to extend an Illinois historic tax credit program for another year.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he discusses a special meeting held by the House Republican Ways and Means members last week, as well as what he thinks GOP leaders hope to accomplish in tax reform. In low-income housing tax credit news, he reviews the Federal Housing Finance Agency’s final rule on Fannie Mae and Freddie Mac’s duty to serve underserved markets–plus, what the final rule means for the low-income housing tax credit equity market. Then he talks briefly about guidance that a recent revenue ruling and IRS notice provided to state allocating agencies on low-income housing tax credits and complying with fair housing rules. In new markets tax credit news, he reviews the CDFI Fund’s planned update of census eligibility and how that affects where new markets tax credit investments can be made. Then, he shares a few key deadlines for the fiscal year 2017 round of the CDFI Bond Guarantee program. In the historic tax credit section, he discusses the Historic Tax Credit Coalition’s urgent call for advocacy action. He closes out with the renewable energy section, where he talks about recent clarification from the IRS on beginning-of-construction deadlines for the investment tax credit and production tax credit.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he talks about how Congress last week narrowly prevented a government shutdown. He also discusses what House Republicans are doing this week to prepare for tax reform next year. Then, he names the top three candidates in the running for HUD deputy secretary. After that, he shares some advice on what some have suggested Ben Carson should prioritize after he’s confirmed as HUD secretary. In low-income housing tax credit news, he describes what’s going on in the tax credit equity market and what some state allocating agencies have done to address developer and investor concerns. He closes out with a report finding that there’s little to no evidence linking low-income housing tax credit housing to increases in concentrated poverty.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section, where he talks about President-elect Donald Trump’s pick for Treasury Secretary, Steven Mnuchin, and what Mnuchin has planned for Trump’s first 90 days in office. He then talks about Trump’s nomination of Ben Carson as HUD Secretary and shares his thoughts on what Carson’s appointment could mean for affordable housing. After that, he discusses how Rep. Richard Neal has become the top Democrat on the House’s powerful Ways and Means Committee. Then, he looks at where lawmakers stand on passing a continuing resolution and certain tax extenders. In low-income housing tax credit news, he highlights some of the important points in California’s new final proposed regulations for the low-income housing tax credit. In new markets tax credit news, he shares with listeners a list of qualified equity investment issuance thresholds that new markets tax credit allocatees need to meet to be eligible for another allocation. And he closes out with the historic tax credit section, where he provides an update on Illinois’ state historic tax credit that is scheduled to expire at the end of this month, but is only one signature away from being extended another year.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he provides an update on Dr. Ben Carson’s likelihood of becoming the next Secretary of the U.S. Department of Housing and Urban Development. He also talks about what congressional leaders are planning to do to keep the government funded past the Dec. 9 expiration of stopgap funding. In low-income housing tax credit news, he talks about the effect that the talk of the possibility of corporate tax reform is having on the current investment interest of many LIHTC corporate investors. He also discusses a GAO report on the role that Fannie Mae and Freddie Mac should play in housing finance. In new markets tax credit news, he shares a quick update for awardees of the 2015-2016 new markets tax credit allocation round about when they can expect to close allocation agreements. Then, he discusses a new bill that would create a new markets tax credit allocation set-aside for investments in low-income coal communities. In the historic tax credit section, he outlines some updates made to Texas state historic tax credit regulations. And he closes out with renewable energy tax credit news, where he shares with listeners what Trump said about wind energy tax credits in his recent interview with the New York Times. I’ll also talks about a report on what could happen to solar energy investments if the investment tax credit were repealed.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section, where he talks about which candidates may be in line to lead Treasury and HUD in a Trump administration. In the low-income housing tax credit section, he shares updates about HUD’s final rule on small area fair market rents. He’ll also talk about an idea for a renter’s tax credit and how it aims to alleviate rent burdens for low-income households. In new markets tax credit news, he shares details and some insights on the highly anticipated announcement of the CDFI Fund’s $7 billion in new markets tax credit allocation authority. In the historic tax credit section, he discusses one way the Advisory Council on Historic Preservation is emphasizing the importance of the historic tax credit and low-income housing tax credit as preservation tools. And, he closes out with renewable energy tax credit news, where he outlines state legislation in Utah to phase out the state’s tax credit for commercial solar installation.
In this week’s Special Election Edition of the Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, discusses the possible policy implications of the historic 2016 presidential and congressional elections. He discusses House and Senate leadership, as well as likely assignments for the chief tax-writing committees: the House Ways and Means Committee and the Senate Finance Committee. He also talks about potential candidates for a new U.S. Department of Housing and Urban Development (HUD) Secretary and how priorities outlined in the House Republicans’ tax reform blueprint could affect the low-income housing tax credit, new markets tax credit, historic tax credit and renewable energy tax credits.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he talks about what’s at stake on Election Day, in addition to the presidential race: how many congressional seats are up for election, who’s not seeking reelection and how election results could shake up committee assignments. In the low-income housing tax credit section, he shares news about Novogradac & Company’s mapping tool with updated information on difficult development areas and qualified census tracts. Then, he discusses a sign-on letter that a group of public housing authorities is circulating in support of expanding HUD’s Rental Assistance Demonstration program. In state housing news, he provides an update on Nebraska’s newly created state low-income housing tax credit. In new markets tax credit news, he shares the latest qualified equity investment issuance report details. In the historic tax credit section, he discusses an economic progress report on the Nebraska’s state historic tax credit program. And, he closes out with renewable energy tax credit news, where he discusses an important court decision regarding wind project partners and their claim to Section 1603 cash grants.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he talks about how Paul Ryan’s bid to keep his job as speaker of the House could affect the future of tax reform. In the low-income housing tax credit section, he discusses the inflation-adjustment caps for the low-income housing tax credits and private activity bonds in 2017. He also talks about HUD’s initial guidance for the Housing Opportunities through Modernization Act. In community development news, he outlines the CDFI Fund’s five-year strategic plan and how it’ll affect administration of CDFI Fund programs, including the new markets tax credit. In the historic tax credit section, he talks about a sign-on letter being circulated by historic preservation groups to ramp up support for the Historic Tax Credit Improvement Act. He closes with renewable energy tax credit news, where he discusses some important deadlines regarding the renewable energy investment tax credit and production tax credit.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about what congressional leaders have in mind for tax reform. In the low-income housing tax credit section, he discusses how $2.6 million unused low-income housing tax credits will be reallocated for 2017. He also outlines HUD’s announcement of difficult development areas and qualified census tracts for 2017. After that, he moves on to a HUD final rule that explicitly excludes tax credit investors from previous participation reviews. In community development news, he tells listeners about the CDFI Fund’s draft of its allocation agreement for the upcoming new markets tax credit allocation round and how to submit comments on it. He also highlights H.R. 6213, a new bill that could help increase the amount of new markets tax credit investments in tribal communities. In the historic tax credit section, he summarizes a letter that the Historic Tax Credit Coalition sent to the IRS regarding the proposed temporary regulations on Section 50(d) income. And, he closes out with renewable energy tax credit news, where he discusses a U.S. Energy Information Administration report what role the investment tax credit and the production tax credit play in the future of carbon dioxide emissions.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he discusses the work in store for Congress when it reconvenes next month, after the elections. He also outlines the options for passing a spending package and how tax extenders fit into the agenda. In the low-income housing tax credit section, he discusses what kind of tax relief is available for areas affected by Hurricane Matthew. Then, he shares a report by the National Low Income Housing Coalition on how the shortage of housing choice vouchers and public housing units points to the importance of the low-income housing tax credit. In new markets tax credit news, he talks about when the $7 billion new markets tax credit allocation announcement is expected and what listeners can do to prepare for the upcoming round. In the historic tax credit section, he details a chief council advice memorandum released by the IRS requiring a pass-through entity in a historic tax credit transaction to file the Form 3468 used to claim the credit. And, he closes out with renewable energy tax credit news, where he shares renewable energy tax credit regulation changes in one of the top wind power producing states in the country, Iowa.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he discusses a recent report from the Federal Housing Finance Agency on how federal home loan banks have helped boost investments in low-income housing and community development. In the low-income housing tax credit section, he tells listeners about HUD’s proposed energy benchmarking for assisted multifamily housing and public housing agencies. He also discusses a state law passed in California that allows local school districts to create housing programs for its employees, using federal and state low-income housing tax credits. In new markets tax credit news, he discusses how much new markets tax credit allocation authority was finalized by allocatees in the past month. In the historic tax credit section, he talks about the National Trust for Historic Preservation’s list of 11 Most Endangered Historic Places and the role that historic tax credits could play in preserving those places. And, he closes with renewable energy tax credit news, where he covers a report on how widely U.S. energy services companies use renewable energy tax credits.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section where he discusses what lawmakers did to avoid a federal government shutdown last week and what unfinished business they’ll have to address when they reconvene after the election. In the low-income housing tax credit section, he discusses HUD’s invitation for comments on closing documents for its Rental Assistance Demonstration or RAD program. Then, he shares updated ACTION Campaign state and district fact sheets that illustrate what the low-income housing tax credit has accomplished in each state and district. After that, he talks about the Emergency East Chicago Relief Act of 2016 (H.R. 6166), a bill that would temporarily increase the low-income housing tax credit allocation in Indiana. Then, he provides an update on a California A.B. 1920, which will give the California Tax Credit Allocation Committee (TCAC) the power to enforce fines for compliance violations. In new markets tax credit news, he discusses the CDFI Fund’s recent award of more than $185 million in grants and loans through the 2016 rounds of the Community Development Financial Institutions program and the Native American CDFI Assistance program. In the historic tax credit section, he talks about the action that the city of Wheeling in West Virginia is taking to support the increase of its state historic tax credit from 10 percent to 25 percent. And, he closes out with renewable energy tax credit news, where he covers an update to the Offshore WIND Act, a bill that would extend the 30 percent renewable energy investment tax credit for offshore wind developments for six additional years.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he discusses the Louisiana Flood and Storm Devastation Tax Relief Act of 2016 (H.R. 6137). In the low-income housing tax credit section, he discusses the Middle-Income Housing Tax Credit Act of 2016 (S. 3384), a bill that would create the middle-income version of the low-income housing tax credit. After that, he shares an update on Inclusive Communities Project Inc. v. the Texas Department of Housing and Community Affairs, a fair housing case that could change how state agencies across the country allocate low-income housing tax credits. Then, he provides a brief reminder of upcoming HUD deadlines for closing mixed-finance transactions before the end of the year. After that, he talks about a new progress report from HUD on its Rental Assistance Demonstration or RAD program. Then he rounds out the housing section with state news from Nebraska, where the state allocating agency said it would delay publishing proposed rules for its state low-income housing tax credit. In new markets tax credit news, he discusses the CDFI Fund’s announcement of the first Capital Magnet Fund awards since 2010. And in other CDFI news, he congratulates Lisa Jones of the CDFI Fund who was honored with a civic service award for her work to start the CDFI Bond Guarantee program. In the historic tax credit section, he talks about the launch of the Novogradac Historic Tax Credit Mapping Tool and how it can help historic tax credit developers and investors plan future projects. And he closes out with renewable energy tax credit news, where he touches on a letter submitted to Congress by more than 50 businesses that are pushing for certain renewable energy tax extenders this year.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general section, where he outlines Donald Trump’s recently released tax reform plan and what certain provisions could mean for the tax credit community. In the low-income housing tax credit section, he touches briefly on a Massachusetts Superior Court ruling last week that affirms a low-income housing tax credit sponsor’s right of first refusal. Then, he discusses HUD’s final rule on evaluating Fair Housing Act harassment complaints. He rounds off the housing section with two state updates. The first is a Georgia court ruling on how low-income housing tax credits are assessed in property valuations. The second state update is from California, where the state allocation agency has proposed more than a hundred changes to its state low-income housing tax credit regulations. In new markets tax credit news, he discusses Bill Clinton’s continued support of the New Markets Tax Credit that he signed into law when he was president. In the historic tax credit section, he talks about an upcoming report that may give good reason why the now-expired Alabama state historic tax credit program should be extended. And, he closes out with renewable energy tax credit news, where he shares a report on offshore wind projects and how tax credits can play a role in their future.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, where he discusses Congressional plans to pass a continuing resolution and avoid a government shutdown. In the low-income housing tax credit section, he shares an update on the Affordable Housing Credit Improvement Act of 2016. He also discusses a California state bill that would give the California Tax Credit Allocation Committee a more efficient way to enforce compliance regulations. In new markets tax credit news, he announces the winners of the 2016 Novogradac Journal of Tax Credits Community Development QLICIs of the Year Awards. In the historic tax credit section, he briefly outlines recent regulatory changes to Maryland’s state historic tax credit program. And, he closes out with renewable energy tax credit news, where he talks about a recent report on the future of wind power generation. He also discusses a letter that clean energy businesses have sent to Congress regarding a tax credit extension for certain renewable energy technologies.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general section, which will include key dates for Congress as the fiscal and calendar years draw to a close. He talks about what deadlines lawmakers need to meet in order to avoid a government shutdown and expiration of certain tax credits. In the low-income housing tax credit section, he shares a recent audit report on Virginia’s administration of its Section 1602 program, cash grants in lieu of the low-income housing tax credit. He also highlights a few case studies released by the Urban Institute that show why preserving affordable housing is critical to the well-being of communities. In new markets tax credit news, he discusses a guest column that Rep. Pat Tiberi wrote on the importance of making the new markets tax credit a permanent part of the tax code. He also shares the latest NMTC Qualified Equity Investment Issuance Report. In the historic tax credit section, he gives an update on two states that are considering the future of their state historic tax credit programs as they keep in mind budget concerns. And, he closes out with renewable energy tax credit news, where he talks about a letter sent by a conservative coalition that opposes the extension of the investment tax credit for certain technologies.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section, where he talks about bonus depreciation guidance issued by the IRS last week through Revenue Procedure 2016-48. In the low-income housing tax credit section, he shares the recently released fiscal year 2017 fair market rents. Then, he talks about an important fair housing discrimination lawsuit that was dismissed last week, the Inclusive Communities Project Inc. vs. the Texas Department of Housing and Community Affairs. He also has news about how listeners can comment on HUD’s fair housing Local Government Assessment tool. In new markets tax credit news, he talks about how one new community development entity in the Northern Mariana Islands has the potential to bring the new markets tax credit to the U.S. territory for the first time. In the historic tax credit section, he discusses a recent historic preservation milestone that Montana recently reached. And he closes out with renewable energy tax credit news, where he shares projections of solar tax credit redemptions in Iowa.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac begins with the general news section, where he talks about the IRS 2016-2017 Priority Guidance Plan and fourth-quarter update to its 2015-2016 plan. In low-income housing tax credit news, he discusses the Federal Housing Finance Agency raising multifamily caps for Fannie Mae and Freddie Mac. He also discusses what two California housing agencies recommend to address the issue of high development costs when building affordable housing. In new markets tax credit news, he talks about the CDFI Fund’s NMTC Public Data Release: 2003-2014 Summary Report. He also shares briefly how much qualified equity investment was issued in the CDFI Fund’s latest qualified equity investment issuance report. In the historic tax credit section, he announces the 2016 winners of the Novogradac Journal of Tax Credit Historic Rehabilitation Awards. He closes out with renewable energy tax credit news, where he shares findings from the U.S. Department of Energy 2015 Wind Technologies Market Report.
In this week’s Tax Credit Tuesday Podcast, Peter J. Lawrence begins with the general news section, where he talks about temporary regulations that the IRS released last week on electing into the partnership audit regime under the Bipartisan Budget Act of 2015. In the low-income housing tax credit section, he shares some stats from the “CDFA Annual Volume Cap Report: Analysis of 2015 Private Activity Bond & Volume Cap Trends.” He also has an update on national efforts to eliminate homelessness among veterans. And he discusses findings from the “Housing is a Foundation: 2016 PAHRC Report.” In new markets tax credit news, he talks about how listeners can provide the CDFI Fund with feedback on its allocation tracking system. In the historic tax credit section, he shares details on the National Park Service’s call for comments on its certification application. And he closes out with renewable energy tax credit news, where he discusses a report on how extension of the investment tax credit shifted solar installation forecasts for 2016 and 2017.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section where he talks about the recently approved 2016 Democrat Party platform, how it compares to the Republican platform and what those priorities could mean for affordable housing, community development and renewable energy. In the low-income housing tax credit section, he shares an update on the Housing Opportunity through Modernization Act of 2016 (H.R. 3700), which President Barack Obama recently signed into law and will modify several housing programs, including Section 8 and public housing. Then, he talks about a new tool released by the Urban Institute and the National Housing Conference that shows why the low-income housing tax credit is crucial to building affordable housing. In new markets tax credit news, he discusses the Rebuilding and Renewing Rural America Act (S. 3243), a recently introduced bill that would double new markets tax credit allocation authority to $7 billion annually for the next three years. In the historic tax credit section, he shares an updated resource from the National Trust that could help historic tax credit advocates illustrate how effectively the federal historic tax credit creates jobs and generates revenue in each state. And he closes out with renewable energy tax credit news, where he discusses how Louisiana’s solar energy system tax credit reached its allocation cap early.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section where he talks about long-awaited guidance on Section 50(d) income inclusion rules and how they affect tax credit partnerships. In the low-income housing tax credit section, he talks about what some stakeholders said about the FHFA’s proposed rule on Fannie Mae and Freddie Mac’s “duty to serve” underserved markets—particularly about what role Fannie and Freddie should play in the low-income housing tax credit market. In new markets tax credit news, he discusses a recent data release on CDFI loans and investments. He also shares news about Kentucky opening the application round for its state new markets tax credit program. In the historic tax credit section, he provides details about some upcoming application deadlines for Ohio’s Historic Preservation Tax Credit program. And he closes out with renewable energy tax credit news, where he discusses “Annual Energy Outlook 2016,” a report that compares projections of future clean energy growth with and without tax credits.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about the Republican and Democratic conventions and what each party has outlined as its priorities, as they relate to affordable housing and energy policy. He also discusses new Community Reinvestment Act regulation guidance and what one particular change could mean for the historic tax credit industry. In the low-income housing tax credit section, he shares big news on two pieces of legislation. The Affordable Housing Credit Improvement Act of 2016 (S. 3237) would greatly expand the low-income housing tax credit and make numerous enhancements to the program, while the Housing Opportunity through Modernization Act of 2016 (H.R. 3700) makes significant changes to several housing programs, especially HUD’s Section 8 Housing Choice Voucher program. Then, he talks about a new housing choice voucher fee formula proposed by HUD that could make administration of vouchers more efficient. In new markets tax credit news, he discusses how new rules issued by the Department of Agriculture would align USDA’s Business and Industry Guaranteed Loan program with new markets tax credit leverage and qualified low-income community investment loans. In the historic tax credit section, he shares news about the Advisory Council on Historic Preservation’s newly appointed and reappointed members. And he closes out with renewable energy tax credit news, where he outlines one federal bill (S. 3169) that would eliminate the wind production tax credit two years earlier than scheduled and the Energy Storage Tax Incentive and Deployment Act of 2016 (S. 3159), which would create a new investment tax credit for energy storage.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section, where he shares what Congress hopes to achieve in the final few days before it takes a long recess. He will also let listeners know about the potential release of a plan by Senate Finance Committee Chairman Orrin Hatch that could have a significant impact on corporate tax reform, including some details of what might be included. In the low-income housing tax credit section, he discusses how two changes in California’s state low-income housing tax credit will make the credit more valuable and versatile. He will also look at a change in Hawaii that makes its state low-income housing tax credit more valuable. In new markets tax credit news, he shares the latest Qualified Equity Investment issuance report and how much allocation authority has been issued to investors in the past month. In the historic tax credit section, he talks about an upcoming meeting of the Advisory Council on Historic Preservation. And he closes out with renewable energy tax credit news, where he tells listeners about New Mexico’s state renewable energy tax credit, which has already reached its cap this year.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section where he shares details from the House Republican tax reform plan released on Friday and a bill that would put partnerships on level ground with corporations when it comes to paying taxes on such things as grants from state or local governments. In the low-income housing tax credit section, he discusses two bills that would drastically change the way certain housing subsidies are administered. He also discusses the latest “State of the Nation’s Housing Report.” In new markets tax credit news, he shares some good news about Enterprise Zone designations that will benefit businesses across the country. In the historic tax credit section, he talks about the latest guidance released by the National Park Service on seismic rehabilitation of historic properties. He closes out with renewable energy tax credit news, where he highlights a bill that would create a 30 percent investment tax credit for renewable energy storage.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins the general news section with an announcement of the 2016 distressed or underserved non-metropolitan, middle-income geographies where qualified community development activities would qualify for Community Reinvestment Act consideration. In the low-income housing tax credit section, he discusses details of the Federal Housing Finance Agency’s 2015 Report to Congress. He will also talk about a proposed rule change on how Housing Choice Vouchers would be administered in certain metropolitan areas. In new markets tax credit news, he shares news about a competition hosted by the CDFI Fund to encourage innovative ideas in serving underserved communities. In the historic tax credit section, he discusses a useful new source of gap financing for Ohio developers. And he closes out with renewable energy tax credit news, where he recaps last week’s Senate Finance Committee hearing on energy tax incentives. He will also outline a new bill that was introduced to encourage investment in offshore wind projects.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section where he describes a comprehensive anti-poverty plan released by House Republican leaders and how the plan can potentially influence tax reform discussions. In the low-income housing tax credit section, he discusses new legislation that was introduced to completely restructure nearly all federal affordable housing programs into a single block grant. Then, he talks about what one report from the Government Accountability Office discovered about compliance issues and the administration of the low-income housing tax credit. After that, he shares news about one state’s successful efforts to extend its state low-income housing tax credit for three years. In new markets tax credit news, he highlights the latest New Markets Tax Credit Progress Report. He also shares a newsletter from the Office of the Comptroller of the Currency on how health care centers and community development incentives can be a great fit for each other. In the historic tax credit section, he briefly discusses changes made to Iowa’s state historic tax credit that make it more attractive to more investors. And he closes out with renewable energy tax credit news, where he talks about Senate Finance Committee Chairman Orrin Hatch’s latest inquiries into administration of the Section 1603 cash grant and renewable energy incentive programs. After that, he outlines a report from the Joint Committee on Taxation about the different energy tax incentives offered by the federal government.
In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, begins with the general news section, where he shares an invitation from the Treasury Department to comment on the Capital Magnet Fund application process and annual report. He also touches on what representatives from the IRS, Treasury and CDFI Fund had to say recently about the lowincome housing tax credit, new markets tax credit and historic tax credit. In the low-income housing tax credit section, he discusses the National Low Income Housing Coalition’s report on some of the reasons why affordable housing is out of reach for a growing number of renter households. He then previews the State of the Nation’s Housing report, which will be released by the Joint Center for Housing Studies this month. In state housing news, he discusses one California bill that could make the state low-income housing tax credit more attractive to investors. In new markets tax credit news, he shares the latest Qualified Equity Investment issuance report and how much allocation authority has been issued to investors in the past month. In the historic tax credit section, he discusses what one Treasury Inspector General for Tax Administration audit found about oversight of historic rehabilitation tax credit claims. And he closes out with renewable energy tax credit news, where he provides a leadership update from the Solar Energy Industries Association.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with a recap of a report commissioned by the CDFI Fund that suggests how low-income housing tax credits, new markets tax credits and renewable energy tax credits can drive more investment into native communities. In the low-income housing tax credit section, he briefly covers the House Appropriations Committee’s approved Transportation-HUD funding bill for fiscal year 2017. He then discusses a new bill introduced that would allow homeless students to qualify for low-income housing tax credit housing. In news from HUD, he talks about clarified guidance on utility allowances under the HOME program. He also summarizes the findings of a report by the Office of Inspector General at the Treasury Department on how well California’s state allocation agency complied with Section 1602 requirements. In new markets tax credit news, he provides details of one community development leader’s written testimony urging lawmakers to expand and make permanent the new markets tax credit. In the historic tax credit section, he shares some good news from Maryland, which recently extended the sunset of its state historic tax credit by five years. And he closes out with renewable energy tax credit news, where he discusses a report on how the renewable energy production tax credit extension has opened opportunities for wind energy development.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general section, where he recaps a corporate integration hearing that was held in the Senate Finance Committee last week and shares important insights from that hearing on the possible adverse effects of corporate - individual income tax integration on investable community development tax credits. In the low-income housing tax credit section, he discusses a bill that was introduced in the Senate last week to increase federal allocations of the low-income housing tax credit by 50 percent. He also provides information on a proposed rule that would affect applicants of HUD’s multifamily and health care programs who have participated in HUD programs before. In other news from HUD, a proposed rule was issued last week that would mandate broadband infrastructure be installed at all HUD multifamily properties during construction. In new markets tax credit news, he reviews details of a recent meeting that was held by the Community Development Advisory Board. Also, as promised last week, in the historic tax credit section, he shares some good news about one southern state that was able to double the authorized funding for its state historic tax credit program. He closes out with renewable energy tax credit news, where he discusses a “beginning of construction” rule update for the renewable energy investment tax credit and production tax credit. He also discusses one state’s bill that would require wind companies to turn over a part of their federal production tax credit to the state.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off the general news section with a brief recap in of a member day hearing convened last week by House Tax Policy Subcommittee Chairman Charles Boustany. He shares what was said about the low-income housing tax credit, new markets tax credit, historic tax credit and renewable energy tax credits. Then, he provides some information about a hearing scheduled for today on corporate integration. In the low-income housing tax credit section, he outlines a bill introduced to preserve asset management staff at HUD’s multifamily field offices. In other news, he talks about how states should establish maximum per-unit development subsidy amounts for Housing Trust Fund properties. In state affordable housing news, he discusses a bill introduced in Colorado to extend the state low-income housing tax credit by three years. In new markets tax credit news, he shares the latest update from the CDFI Fund on how much qualified equity investment has been issued to-date and the amount remaining to be issued. In the historic tax credit section, he provides more details about how a bill to extend the popular state historic tax credit in Alabama got derailed, leaving the state credit expired for now. And he closes out with renewable energy tax credit news, where he talks about a proposal to create a solar investment tax credit in Minnesota.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with a brief recap of where presidential candidates stand after last week’s Indiana contests. He’ll also touch on a tax overhaul hearing scheduled by the House Ways and Means Tax Policy Subcommittee this week. In the low-income housing tax credit section, he discusses how much will be available for the inaugural allocation of the National Housing Trust Fund. Then, he discusses the Federal Housing Finance Agency’s adjustment of multifamily lending caps for Fannie Mae and Freddie Mac. After that, he shares one report’s findings about the potential benefits of clustering low-income housing tax credit properties in low-income areas. In new markets tax credit news, he talks about a Dear Colleague letter that urges House Ways and Means Committee leadership to make the NMTC a legislative priority. Then, he discusses a bill designed to attract more investments in economically distressed communities. In the historic tax credit section, he shares how listeners can submit nominations for the National Trust for Historic Preservation’s 11 Most Endangered Historic Places. In state historic tax credit news, he talks about a proposal in Mississippi to double the state historic tax credit’s program cap and has breaking news on the state historic tax credit in Alabama. And he closes out with renewable energy tax credit news, where he talks about new IRS guidance on safe harbors and the production tax credit. Finally, he’ll discuss a milestone recently achieved by the renewable energy industry.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with a brief look at the presidential primary races. He also looks at a business depreciation proposal by Senate Finance Committee Ranking Member Ron Wyden. In the low-income housing tax credit section, he outlines a new bill that would reform tenant screening and eviction policies for HUD-assisted properties—specifically, relating to tenants and potential tenants with criminal backgrounds. In new markets tax credit news, he talks about an upcoming meeting for the CDFI Fund’s Community Development Advisory Board. In the historic tax credit section, he discusses a recent hearing on Ohio’s state historic tax credit program and a proposal to turn the tax credit into a grant. And he closes out with renewable energy tax credit news, where he talks about a legislative amendment that could reallocate millions of dollars to wind energy research.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news, where he provides a brief look at the presidential primary races. Then, he reviews a recently released memo from the IRS Office of Chief Counsel, which provides additional indications as to how the IRS views certain carve-out guarantees of otherwise nonrecourse partnership loans. In the low-income housing tax credit section, he outlines the bill that the Senate Appropriations Committee last week approved regarding funding for transportation and HUD in fiscal year 2017. After that, he discusses how two Louisiana state bills could change the way property taxes for low-income housing tax credit developments are calculated. In new markets tax credit news, he talks about the CDFI Fund’s exciting announcement that $7 billion of new markets tax credit allocation authority will be awarded later this year. In the historic tax credit section, he discusses why efforts to extend the state historic tax credit in Alabama may have hit a wall, despite being passed in one chamber of the legislature by a vote of 91-4. And he closes out with renewable energy tax credit news, where he talks about how certain technologies “orphaned” by last year’s energy investment tax credit extension might find another legislative vehicle before the end of the year.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with a brief look at the presidential primary races in New York today. Then, he discusses a recent hearing on tax reform proposals and how they could affect key tax credit programs. In affordable housing news, he has a brief note on today’s markup of the Transportation, Housing and Urban Development and Related Agencies Appropriations Act for Fiscal Year 2017. Then, he shares how listeners can calculate low-income housing tax credit rent and income limits for every Metropolitan Statistical Area in the country for free. After that, he talks about which state is temporarily suspending its utility allowance for low-income housing tax credit properties. In the new markets tax credit section, he shares some breaking news about calendar years 2015 and 2016 allocation rounds. Then, he has a preview of an upcoming new markets tax credit market report that will debut in next month’s issue of the Novogradac Journal of Tax Credits. In the historic tax credit section, he talks about an Illinois bill that would extend the state historic tax credit sunset five years until 2022. And he closes out with renewable energy tax credit news, where he shares the status of a potential vehicle for renewable energy investment tax credits to be extended for certain clean energy technologies. He also discusses a new report on how renewable energy production tax credits have helped increase wind energy jobs across the country.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section, where he provides an update for listeners on the presidential primaries. In the low-income housing tax credit section, he discusses recent HUD guidance on how the Fair Housing Act relates to housing restrictions based on criminal history. Then, he shares a HUD report on tenants living in low-income housing tax credit homes. After that, he provides a brief update on one state’s extension of its state low-income housing tax credit program. In new markets tax credit news, he has a preview of what the New Markets Tax Credit Working Group is putting together regarding equal opportunity requirements for entities receiving CDFI Fund assistance. In the historic tax credit section, he talks about which state is one step closer to extending its state historic tax credit through the year 2022. And he closes out with renewable energy tax credit news, where he discusses a potential vehicle for the renewable energy investment tax credit extension expansion to certain clean energy technologies.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with the general news section begins with a brief update on the presidential primary races. Then, he talks about how some experts predict the next president could affect the chances of comprehensive tax reform. In the low-income housing tax credit section, he discusses the 2016 income limits and the amount of low-income housing tax credit authority each state will get. He also shares a milestone of HUD’s Rental Assistance Demonstration or RAD program. In new markets tax credit news, he tells listeners how they can comment on regulation that requires banks to report community development investments to the OCC. In the historic tax credit section, he talks about two bills to authorize more funding for the Mississippi state historic tax credit program. And he closes out with renewable energy tax credit news, where he discusses how the renewable energy investment tax credit could affect the amount of energy storage in the United States.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section, where he provides an update on the presidential primaries. Then, he touches on legislation that Congress has sent to the President, for his signature, that could affect the future of various spending and tax expenditure programs. Also, he shares where listeners can go to learn more about the Joint Committee on Taxation’s (JCT’s) estimates of President Obama’s fiscal year 2017 tax proposals, and how the JCT estimates compare to projections previously prepared by the Office of Management and Budget. In the low-income housing tax credit section, he discusses one senator’s campaign to expand the low-income housing tax credit allocation by 50 percent. He will also talk about another lawmaker’s $13.3 billion proposal to fund programs that combat homelessness. After that, he shares news on how to comment on HUD’s fair housing assessment tools. In new markets tax credit news, he talks about an IRS notice that allows state or local governments to automatically extend empowerment zones through the end of this year. In the historic tax credit section, he talks about what action was taken to clarify provisions of the Louisiana state historic tax credit program. And he closes out with renewable energy tax credit news, where he announces the winners of the 2016 Novogradac Renewable Energy Power Awards.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with an update on the presidential primaries. Then, he touches briefly on a tax reform hearing scheduled for today in the House Ways and Means Tax Policy Subcommittee. After that, he discusses the IRS’ plans to prioritize the guidance it will issue for 2016 and 2017. Then, he’ll share news about a deadline extension to comment on the IRS’ new partnership audit rules. In the low-income housing tax credit section, he discusses the course of action that the California Tax Credit Allocation Committee is considering to address over-allocation of its state low-income housing tax credits. In new markets tax credit news, he talks about the deadline extension to comment on the Capital Magnet Fund’s interim rule. In the historic tax credit section, he’ll have updates on a state historic tax credit program that has narrowly escaped being put on ice for two years. And he closes out with renewable energy tax credit news, where he discusses efforts to extend tax credits for certain renewable energy technologies that weren’t included in the recent extension of the investment tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section, where he provides an update on the presidential primaries. Then, he covers what some Congress members are doing to promote funding for certain housing and economic development programs. In the low-income housing tax credit section, he discusses what one coalition of affordable housing investors had to say about Fannie Mae and Freddie Mac resuming low-income housing tax credit investments. He also talks about HUD’s efforts to streamline administration of its multifamily programs. After that, he will give a reminder about an upcoming Real Estate Assessment Center deadline. In new markets tax credit news, he shares highlights from a speech delivered last week by CDFI Fund Director Annie Donovan and what she outlined as a framework for the future of CDFIs. Next, he shares how much funding will be available for the fiscal year 2016 round of the Capital Magnet Fund. In the historic tax credit section, he has details for listeners on the long-awaited Senate version of the Historic Tax Credit Improvement Act of 2015. He compares and contrasts the Senate bill with the House version introduced in October. In state-level news, he summarizes two new Alabama bills introduced to extend the state historic tax credit program. And he closes out with renewable energy tax credit news, where he discuss one U.S. senator’s proposal to extend the renewable energy investment tax credit through the year 2025.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off this week’s podcast with the general news section, where he provides an update for listeners on the presidential primaries. He also discusses how the IRS’s new partnership audit provisions could affect tax credit partnerships. In the low-income housing tax credit section, he shares what HUD Secretary Julian Castro had to say at a hearing last week about the president’s proposed budget increase for HUD. Then, he discusses new regulations regarding utility allowance regulations and how property managers can make sure to remain in compliance. After that, he talks about an advocacy letter that urges lawmakers to expand the low-income housing tax credit. In new markets tax credit news, he provides the important details CDFIs need to know about the CDFI Fund’s new annual certification report. He also shares the CDFI Fund’s latest new markets tax credit qualified equity investment issuance report. Then in the historic tax credit section, he talks about highlights from the National Park Service’s annual report and analysis on the federal historic tax credit. And he closes out with renewable energy tax credit news, where he summarizes a report on how expanded tax credit programs through the Recovery Act helped increase clean energy investments across the country.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins this week’s podcast with the general news section, where he recaps the South Carolina Democratic presidential primary and Nevada Republican caucus results and he will provide a rundown on the state delegates at stake in today’s Super Tuesday primaries. In the low-income housing tax credit section, he shares news about updated compliance monitoring regulations for the lowincome housing tax credit and remind listeners about the HUD budget hearing scheduled for today. In new markets tax credit news, he talks about updates to the frequently asked questions document for Capital Magnet Fund applicants. He also shares how listeners can learn about new markets tax credit basics anytime, anywhere with our Novogradac on-demand course, NMTC 101: The Basics. Then in the historic tax credit section, he has an update on one Maryland county’s successful campaign to create a local historic tax credit program. And he closes out with renewable energy tax credit news where he discusses possible implications of the renewable energy tax credit extensions through 2021.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he discusses the results of the South Carolina presidential primary and Nevada caucus. In the low-income housing tax credit section, he shares news about fiscal year 2016 allocations through HUD’s Public Housing Capital Fund. Then, he talks about a recent report on the challenges faced by low- and moderate-income working renter households. In new markets tax credit news, he talks about the availability of fiscal year 2016 funding for the CDFI Program and the Native American CDFI Assistance Program. He also has a reminder about the upcoming deadline to submit nominations for the Novogradac Community Development Individual Achievement Awards. Then in the historic tax credit section, he shares what leaders of the National Park Service and the National Conference of State Historic Preservation Officers had to say about a bill that would reauthorize the Historic Preservation Fund for another 10 years. And he closes out with renewable energy tax credit news where he discusses recent comments made by energy industry groups about the potential use of renewable energy tax credits for facilities that store but don’t produce electricity. He also has an update on efforts to extend New Mexico’s rooftop solar tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section, where he provides a detailed description of the president’s proposed budget for fiscal year 2017. He talks about how the proposals would affect HUD, the low-income housing tax credit, the new markets tax credit and renewable energy investment and production tax credits. He also discusses a new congressional task force that was created to address the issue of tax reform this year. In the low-income housing tax credit section, he shares two pieces of news for affordable housing. One is about an inclusionary housing policy in the San Francisco Bay Area. The other is one state’s proposal to create its own low-income housing tax credit. In new markets tax credit news, he talks about a new report from Enterprise Community Partners Inc. that includes a host of housing and community development policy recommendations, one of them to make permanent and expand the new markets tax credit. Then in the historic tax credit section, he talks about an Oklahoma bill that would greatly endanger historic preservation there by suspending the state historic tax credit for two years. And he closes out with renewable energy tax credit news where he discusses how listeners can join HUD’s Better Building Challenge to increase energy efficiency in developments.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off this week’s podcast with the general news section, where he talks about the planned release of the president’s fiscal year 2017 budget proposal and what hearings will be held this week to discuss the president’s plan. Then, he discusses the Federal Housing Administration’s first update of its Multifamily Accelerated Processing, or MAP, Guide since 2011. In the low-income housing tax credit section, he provides details on federal legislation that would make a number of reforms to the housing choice voucher and project-based voucher programs. Then, he discusses how HUD may address the issue of providing public housing to families whose incomes rise significantly above initial limits. In new markets tax credit news, he talks about the opening of the fiscal year 2016 funding round of the Capital Magnet Fund and he shares information about the CDFI Bond Guarantee program. Also in the new markets tax credit section, he shares the amount of qualified equity investment issued in the past month. Then in the historic tax credit section, he talks about report findings on the value of the state historic tax credit in Alabama and about the efforts to renew the program for another seven years. He closes out with renewable energy tax credit news where he discusses a legislative change to North Dakota’s wind energy tax credit that could greatly benefit developers.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section, where he talks about the results of last night’s presidential caucus in Iowa. In the low-income housing tax credit section, he provides an update on when listeners can expect HUD to release income limits for fiscal year 2016. Then, he talks about how a separate announcement from HUD last week will come as good news for multifamily affordable and energy-efficient properties. In new markets tax credit news, he discusses demand for new markets tax credit allocation authority under the 2015 round and how it compares to demand last year. Then in the historic tax credit section, he talks about a proposed law in Michigan that could endanger historic districts across the state. And he closes out with renewable energy tax credit news where he discusses efforts to extend New Mexico’s solar market development tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about the Congressional Budget Office’s updated budget and economic outlook for the next decade. Then, he shares news about the appointment of three senior staff members to the House Ways and Means Committee, followed by an announcement about the Ways and Means Committee’s first meeting of the year. In the lowincome housing tax credit section, he discusses the Treasury Department’s audit of the Section 1602 program in North Dakota. In new markets tax credit news, he highlights a tax extenders provision that is often overlooked, but that can be a game changer for investments in lowpopulation census tracts. Then in the historic tax credit section, he talks about a milestone in historic preservation and how listeners can share their thoughts on the challenges and opportunities facing national historic preservation. In state-level news, he discusses recent amendments to Virginia’s state historic tax credit regulations. And he closes out with renewable energy tax credit news where he talks about a report that calls wind energy the most costeffective way to cut carbon pollution and he tells listeners about how renewable energy tax credits fall into the mix.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section, where he talks about what the president said—or didn’t say—about tax reform during his State of the Union address last week. He also discusses a list of tax provisions that are scheduled to expire in the next decade. In the low-income housing tax credit section, he highlights the latest commitment from HUD and the Department of Veterans Affairs to help house Native American veterans. In new markets tax credit news, he shares news about an upcoming conference where listeners can hear about community development opportunities from several government agency heads and industry leaders. Then in the historic tax credit section, he shares how listeners can submit comments on one of the most important forms under the historic tax credit program, the historic preservation certification application. After that, he recaps a recent court ruling on the transfer of state tax credits and why it was deemed a disguised sale. And he closes out with renewable energy tax credit news, where he talks about another court ruling—this time on award decisions made by Treasury on Section 1603 grant applications. And the last news update will be a state item from North Carolina, where the expired state investment tax credit is still an economic spur.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about a list of tax provisions on which the IRS will not issue private rulings or determination letters this year. In the low-income housing tax credit section, he discusses when listeners can expect HUD to release its 2016 income limits for tenants in low-income housing tax credit properties and what the delayed release date could mean for properties. In new markets tax credit news, he shares news about the CDFI Bond Guarantee program and how much guarantee authority has been authorized for 2016. Then in the historic tax credit section, he discusses efforts to create a county-wide historic tax credit program in Maryland. And he closes out with renewable energy tax credit news where he talks about how listeners can comment on guidance regarding the election of renewable energy investment tax credits in lieu of production tax credits.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins the first podcast of the new year with the general news section, where he provides an outlook on tax reform in 2016 and key presidential primary dates. In the low-income housing tax credit section, he discusses how owners can comment on Form 8586. Then he talks about how listeners can apply for the third round of HUD’s Promise Zone initiative. In new markets tax credit news, he shares the latest qualified equity investment issuance report. He also has news about five upcoming webinars designed to help CDFIs with everything from customer acquisition to tips for successful partnerships—all with the goal of helping CDFIs better reach underserved areas. Then in the historic tax credit section, he has some state-level news. One is about some rule changes in Montana and the other is about the announcement of Ohio’s historic tax credit awards. He closes close out with renewable energy tax credit news, where he discusses the latest efforts to extend the solar market development tax credit in New Mexico.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section, where he talks about the latest omnibus appropriations bill and tax extenders news. In the low-income housing tax credit section, he discusses a new rental housing report and what it says about how affordable housing programs can better serve the nation’s growing housing needs. In new markets tax credit news, he shares an announcement on Capital Magnet Fund guidance and notice of funding availability. He also provides an update on how much funding will be available for fiscal year 2016 through the Social Innovation Pay for Success program. Then, he moves on to historic tax credit news, where he talks about an upcoming application deadline for Ohio’s state historic tax credit program. He closes out with renewable energy tax credit news, where he discusses the latest effort to extend the renewable energy investment and production tax credit program permanently
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he talks about the status of omnibus appropriations legislation for 2016 and the status of tax extender discussions. In the low-income housing tax credit section, he discusses how listeners can learn more about HUD’s significant changes to the 2016 designations for difficult development areas and qualified census tracts. In new markets tax credit news, he shares an update to the CDFI Fund’s NMTC Certification, Compliance and Monitoring FAQs. He will also talk about the amount of qualified equity investments issued last month. Then, he moves on to historic tax credit news, where he shares the latest awardees of Maryland’s very successful state historic tax credit program. And he closes out with renewable energy tax credit news where he discusses the possibility of a phase-out for both the production and investment tax credits.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins this week’s podcast with the general news section, where he talks about where Congress stands on trying to pass an omnibus appropriations bill for 2016. He also provides an update on tax extender discussions. In the low-income housing tax credit section, he discusses HUD’s risk-sharing program for small buildings and what California may do about its growing amount of state lowincome housing tax credit forward commitments. In new markets tax credit news, he tells listeners which entity was named the winner of the CDFI Fund’s Innovation Challenge and how that entity’s proposal could change the way small businesses find loans in underserved areas. Then, he moves on to historic tax credit news, where he talks about this year’s winners of the Maine Preservation Honor Awards. He closes out with renewable energy tax credit news where he discusses a new study on the economic potential of renewable energy and how renewable energy tax credits can play a big role in expanding that potential.
Michael J. Novogradac, CPA, shares an update on tax extenders; reviews the recently released report from the Tax Reform Subcommittee of the President’s Economic Recovery Board; summarizes recently updated guidancereleased by the Treasury Department regarding recapture under the Section 1602 low-income housing tax credit cash grant program; discusses some upcoming, critical deadlines for new markets tax credit allocates, and a bill beingconsidered in California to create a state NMTC; highlights the Maryland Sustainable Communities Rehabilitation Tax Credit Program; examines a report that details the impact of three major renewable energy subsidies; and closes with tax credit tidbits.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts this week’s podcast with the general news section, where he talks about some key changes to the House Select Revenue Measures Subcommittee. In the affordable housing section, he provides an update on the fiscal year 2016 funding bill for the Departments of Transportation and HUD. He also has big news on HUD’s 2016 designations for difficult development areas and qualified census tracts. In new markets tax credit news, he provides a legislative update on bills that would make the new markets tax credit a permanent part of the tax code. Then, he moves on to historic tax credit news, where he shares information on technical guidance training sessions that could help historic preservationists working on federal property developments. He closes out with renewable energy tax credit news, where he discusses a new bill that would extend the production tax credit through the end of 2016.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins the podcast with the general news section, where he provides updates on where Congress stands on highway and transit funding, as well as tax extender discussions. In the affordable housing section, he shared a HUD proposal that could ban smoking at all public housing properties. In new markets tax credit news, he discusses the 2015 new markets tax credit online application and Q&A document that is designed to make applying easier for CDEs. Then, he moves on to historic tax credit news, where he lets listeners know about which historic tax credit industry leader is set to retire and who was chosen as his successor. He closes out with renewable energy tax credit news where he discusses 14 bills that were introduced to extend provisions of the investment tax credit. He also talks about why nearly 50 businesses in Illinois are asking their federal representatives to extend the production and investment tax credits.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off the general news section by talking about the president’s State of the Union address and tax reform. He then moves on to discuss the formation of a new advisory council that was formed this month by the Federal Reserve Board. In the low-income housing tax credit section, he gives an update on the disparate impact case that was heard in the Supreme Court last week. He also talks about the 2015 poverty guidelines released by the U.S. Department of Health & Human Services and why it can be expected that HUD will soon release its own fiscal year 2015 income limits. He also shares some news about $3.2 million in grants that were awarded through the Choice Neighborhood Planning program. In a state-level update, he talks about what California’s state treasurer John Chung is planning to do to increase the supply of affordable housing in the state. He also briefly discusses a new report that highlights achievements of the low-income housing tax credit in Vermont. In the new markets tax credit segment, he introduces the new Community Development Individual Achievements Awards program and how you can nominate community development leaders who deserve recognition for their outstanding work. In historic tax credit news, he states the National Trust for Historic Preservation is accepting nominations for its 2015 list of America’s 11 Most Endangered Historic Places. After that, he reviews what is being done to resurrect a state historic tax credit program in North Carolina, and how preservationists can now apply for the new state historic tax credit in Texas. In the renewable energy tax credit section, he discusses a proposal to amend the Keystone XL pipeline legislation that could consolidate or eliminate about 100 government programs related to green building activity. He closes with news on a new bill in Nebraska that would greatly increase its state energy production tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with the general news section, where he discusses the latest news from Washington on the new House Ways and Means Chairman, a House-approved highway and transportation bill and support for long-term tax extenders. In the affordable housing section, he shares what two influential groups had to say about the low-income housing tax credit recently. In new markets tax credit news, he provides an update on qualified equity investments issued in the month of October and the likely reason that it’s the largest amount issued in one month since last year. Then, he moves on to historic tax credit news, where he tells listeners which state’s historic preservation office is planning a big push to increase the state historic tax credit cap to $120 million. And he closes out with legislative updates on two renewable energy tax credit bills in the renewable energy tax credit section.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section, where he provides the latest news from Washington on the new speaker of the House, a two-year budget deal, highway funding and the race for a new House Ways and Means Committee chairman. In the affordable housing section, he shares a report on what the HOME program has accomplished for affordable housing over the past 25 years. In new markets tax credit news, he highlights updated NMTC guidance from the CDFI Fund, and he provides a reminder of upcoming application deadlines for 2015 new markets tax credit allocation authority. Then, he moves on to historic tax credit news, where he talks about how a long-awaited bill could make the biggest changes to the historic tax credit in decades. He closes out with renewable energy tax credit discussion, where he discusses a new report on why the renewable energy investment tax credit should be expanded to other sources of renewable energy.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off general news section with news from Washington. He has updates on speaker of the House election, information on the upcoming highway and transportation funding deadline and a look at the approaching deadline to raise the national debt ceiling. In the affordable housing section, he talks about the 2016 low-income housing tax credit and private activity bond caps. After that, he discusses a new public housing bill that could influence a markup of a HUD reform bill. In statelevel news, he shares highlights of California’s newly adopted regulations for its low-income housing tax credit. In new markets tax credit news, he discusses the official opening of the new markets tax credit 2015 funding round. He will highlight what listeners need to know about applications and important dates to remember. In related news, he talks about how the CDFI Fund is allowing certain military bases to qualify for the new markets tax credit more easily, as well as updates to compliance FAQs. After that, he moves to historic tax credits, where he shares new guidance from the Advisory Council on Historic Preservation concerning the use of real property transferred out of federal ownership. He closes out with the renewable energy tax credit section. He tells listeners which California city is officially endorsing the extension of the federal energy investment tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins this week’s podcast with the general news section, where he shares updates on the deadlines that Congress will need to address in the coming months. In the affordable housing section, he talks about the 2015 low-income housing tax credit national pool and which five states were the top recipients. Then, he’ll have two updates from HUD. One is on the 2016 operating cost adjustment factors for project-based assistance contracts. The second concerns public housing authorities’ use and reporting of administrative fee reserves. He will also discuss the significant regulation changes proposed by California’s Tax Credit Allocation Committee. In new markets tax credit news, he tells listeners about an updated and expanded resource for community development professionals, the 2015 Novogradac New Markets Tax Credit Handbook. After that, he moves on to historic tax credits, where he talks about proposed rule changes for Georgia’s state historic tax credit that were prompted by the expansion of the state credit enacted in May. He closes out with renewable energy tax credit discussion, which features information on a new bill that would make the renewable energy production tax credit a permanent part of the tax code.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with the general news section where he discusses the unexpectedly dramatic race to elect a new speaker of the House and what fiscal deadlines the speaker will need to address before the end of the year. In the affordable housing section, he’ll talk about a new housing reform bill that was introduced to streamline several housing programs. Then, he highlights HUD’s upcoming deadlines for processing mixed-finance developments. In state-level news, he shares an update on two California low-income housing tax credit bills. In new markets tax credit news, he tells listeners which entity the CDFI Fund chose to provide group training and assistance to minority certified community development entities. After that, he moves to the historic tax credit section, where he talks about which preservation advocate received an award for her part in getting her state’s historic tax credit program reinstated. He closes out with the renewable energy tax credit section, with information on a new bill that would eliminate the production tax credit. He discusses why the bill could be a good thing for the wind energy industry—at least for now. Then, he tells listeners how they can provide input on how Treasury and the IRS should define certain types of properties that qualify for the renewable energy investment tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section by discussing a stopgap bill that was enacted last week to keep the federal government funded for another two months. Plus, he has updates on the other fiscal deadlines that Congress must address before the end of the year. In the affordable housing section, he talks about the mortgage insurance premiums released by HUD for fiscal year 2016. He also shares news about how two housing forums could affect the presidential race. In new markets tax credit news, he provides updates on the CDFI Fund’s new program data system that is replacing the myCDFIFund portal. Then, he reviews the amount of qualified equity investments issued last month and the amount of new markets tax credits remaining to be allocated. After that, he moves to the historic tax credit section, where he addresses an expanded resource that will provide industry participants with updated historic tax credit basics. He closes with the renewable energy tax credit section, with news about power purchase agreement prices for solar and how those prices are being affected by the investment tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with a discussion on the Speaker of the House John Boehner’s retirement announcement and what it could mean for budget bill negotiations. In the affordable housing section, he talks about a report on how the number of severely rent overburdened households is projected to change over the next 10 years. He also shares news about which affordable housing community leader is retiring this spring. In new markets tax credit news, he announces the winners of the 2015 Novogradac Journal of Tax Credits Community Development QLICIs of the Year Awards. After that, he moves to the historic tax credit section, where he talks about a great resource for updated information on the historic tax credit. He closes out with the renewable energy tax credit section, with news about a Senate bill that would temporarily renew and then replace the energy production and investment tax credits. Then, he discusses how listeners can win recognition for their favorite renewable energy tax credit projects.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with a discussion on the fiscal deadlines that Congress has to face in the next few months. In the affordable housing section, he talks about the status of two California bills that would make the state low-income housing tax credit an even more effective development tool. In new markets tax credit news, he provides information about the CDFI Fund’s new website. After that, he moves to the historic tax credit section, where he talks about which state has officially restored its expired state historic tax credit. He closes out with the renewable energy tax credit section, with two reports on the importance of preserving renewable energy incentives. One is from the American Wind Energy Association and the other is from the Solar Energy Industries Association.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins the general news section by sharing two bills that could affect how the federal government will deal with the debt ceiling and other federal obligations. He also talks about the status of tax extenders in Congress and what a group of more than 2,000 organizations had to say about tax extenders and economic growth. In the affordable housing section, he discusses a report from the Congressional Budget Office on federal housing assistance programs and a range of options on how they can be changed or eliminated. Then, he talks about HUD’s new capital fund guidebook and how it can be useful for public housing authorities and HUD field offices. He also has a reminder about how listeners can nominate their favorite affordable housing developments for the Novogradac Developments of Distinction Awards. In new markets tax credit news, he addresses a new rule in Maine that prevents the state new markets tax credit from using one-day bridge loans, among other things. He moves to the historic tax credit section, where he discusses the historic tax credit’s annual economic impact report. Then he shares guidance released by the Advisory Council on Historic Preservation and other agencies that streamlines environmental and historic preservation reviews in disaster areas. He closes with the renewable energy tax credit section and discusses what a recent solar market report projects for the industry if the 30 percent investment tax credit were allowed to expire in 2017.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general section, where he shares a recent report from the Office of Management and Budget on the appropriations bills approved by the House and Senate. In affordable housing news, he discusses HUD’s proposed fiscal year 2016 fair market rents. And he lets listeners know how they can submit nominations for the Novogradac Journal of Tax Credits Developments of Distinction Awards. In new markets tax credit news, he provides a recap of the CDFI Fund’s recent listening tour and what CDFIs have suggested for improving the CDFI program. He also shares information on the latest Qualified Equity Investment Issuance Report. After that, he moves to the historic tax credit section, where the topic is how Massachusetts considers the transfer of its state historic tax credit for multiphase projects. He closes out with the renewable energy tax credit section, where he talks about a private letter ruling that meant good news for one investor in community solar.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts the podcast off with a discussion of a new prediction by the Congressional Budget Office that the federal debt limit will be reached later than expected and what that could mean to Congress. He also looks at other key matters facing Congress when it returns next week. In the low-income housing tax credit segment, he shares some good news about HUD’s housing choice voucher program and a final rule that improves its portability. He also touches on a California notice on how to retain current-year difficult development area status. In addition, he talks about how listeners can nominate developments for some upcoming awards as well as how to register for upcoming webinars. In new markets tax credit news, he reviews about the latest Qualified Equity Investment report from the CDFI Fund. In the historic tax credit section, he congratulates the winners of the 2015 Novogradac Historic Rehabilitation Awards. He closes today’s podcast with the renewable energy tax credit section, where he discusses some details of a proposal by Sen. Chuck Schumer to extend and modify the investment tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section where he discusses what could be on tap for Congress in the next few months and where tax reform discussions might fit in. In the low-income housing tax credit segment, he shares information on two recent HUD publications. One revises Section 8 renewal guidance and the other proposes revising HUD’s previous participation reviews. He also talks about an upcoming webinar that could save LIHTC property owners and managers a lot of worry when it comes to lease ups and maximizing tax credits in the first year. In new markets tax credit news, he shares information about a job opening at the CDFI Fund. In the historic tax credit section, he tells listeners who was selected to head up the historic preservation lobby group, Preservation Action. He closes with the renewable energy tax credit section, where he discusses two reports released by the Department of Energy and what they say about wind power and renewable energy tax credits.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with by discussing how much a tax extenders package passed by the Senate Finance Committee is expected to cost over the next 10 years. In the low-income housing tax credit segment, he shares the results of the Council of Development Finance Agencies’ 2014 private activity bond and volume cap report. He also talks about a report on how cities can make inclusionary housing policies more balanced between addressing housing needs and keeping requirements financially feasible for developers. In new markets tax credit news, he provides an update on legislation that would permanently extend the federal New Markets Tax Credit (NMTC) program. In the historic tax credit section, he shares an opportunity for listeners to gain insights from some of the leading experts in the historic tax credit community. He closes with the renewable energy tax credit section, where he talks about a recently enacted Oregon bill and what it means for renewable energy tax credits in the state.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with an update on what the IRS included in its 2015-2016 Priority Guidance Plan. In the low-income housing tax credit segment, he discusses a recent report on how housing finance agencies are faring with a shift in multifamily subsidy types. Then, he talks about the proposed selection process for the third and final round of the Promise Zones Initiative. In the same section, he shares an opportunity to learn about low-income housing tax credit compliance rules and strategies. In new markets tax credit news, he shares the monthly Qualified Equity Investment Issuance or QEI report update. In the historic tax credit section, he discusses the latest meeting of the Advisory Council on Historic Preservation. In the renewable energy tax credit section, he talks about the amount of wind energy generation capacity installed during the second quarter of this year and how renewable energy tax credits helped fuel that growth.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts the podcast off with the general news section, where he provides details about the tax extenders package that was advanced by the Senate Finance Committee last week. He will tell listeners which expired incentives made the cut and when Congress is expected to take up the extenders. He also discusses a bill designed to help victims of natural disasters by expanding the federal lowincome housing tax credit, new markets tax credit and historic tax credit in designated disaster zones. In the low-income housing tax credit (LIHTC) segment, he shares a report from the Government Accountability Office on why it thinks HUD and the IRS should team up to administer the Low-Income Housing Tax Credit program. Then, he talks about some significant changes being proposed to California’s qualified allocation plan. He also shares how listeners can learn more about the options available to LIHTC property owners when their 15-year compliance period ends. In the new markets tax credit (NMTC) section, he discusses an update issued by the CDFI Fund that will help NMTC program participants determine the eligibility of census tracts in U.S. island areas. Then in the historic tax credit section, he reviews what one report says about the economic impact of the federal historic tax credit in Wisconsin. He closes with the renewable energy tax credit section, where he talks about a bill that would allow tribal governments to use the federal renewable energy investment tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news discussion, where he shares what was included in the Senate Finance Committee chairman’s tax extender legislation markup and what was left out. In the low-income housing tax credit segment, he outlines a new initiative launched by the U.S. Department of Housing and Urban Development that should come as good news for small affordable housing properties. In new markets tax credit news, he discusses how listeners can provide their questions and comments on programs run by the Community Development Financial Institutions (CDFI) Fund. In the historic tax credit section, he talks about how the state of Massachusetts is working to clarify its state historic tax credit recapture rules. He closes with the renewable energy tax credit section, where he discusses an extension for small wind turbines to meet performance and quality standards for the investment tax credit. He also shares information on a new bill that could create an investment tax credit for offshore wind facilities.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with a discussion of the reports released last week by the Senate Finance Committee’s tax reform working groups. He informs listeners about what was said about the low-income housing tax credit, new markets tax credit, historic tax credit and renewable energy tax credits—and what their mere inclusion in the report signifies. In the low-income housing tax credit segment, he talks about what HUD said last week about affirmatively furthering fair housing and how it affects program participants. He also shares news about an upcoming webinar that will discuss the Supreme Court’s recent ruling on disparate impact and what the consequences are for affordable housing. After that, he discusses what one HUD study found about the effectiveness of housing choice vouchers for homeless families. He will also talk about how listeners can submit nominations for the annual Novogradac Journal of Tax Credits Developments of Distinction Awards. In the new markets tax credit section, he shares how listeners can learn more about how the CDFI Fund’s Bond Guarantee program can be used with the new markets tax credit. In the historic tax credit section, he gives an update from Wisconsin, where the governor has signed a budget that no longer includes a proposed state historic tax credit cap. He closes with the renewable energy tax credit section, where he addresses a new Iowa law that expands its solar energy tax credit cap for the next two years.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins the general news discussion with an update on the status of the Senate Finance Committee working groups and when they’re scheduled to provide feedback on reforming the tax code. In the low-income housing tax credit segment, he shares the latest news on companion legislation that would create a minimum credit rate for the federal low-income housing tax credit (S. 1193 and H.R. 1142). In new markets tax credit news, he discusses a recent letter that was signed by 55 House members, urging the House Ways and Means Committee to extend the federal new markets tax credit. He also provides information about an upcoming webinar on NMTC exit strategies and information on how listeners can nominate outstanding community development entities for the annual Novogradac Journal of Tax Credits Community Development QLICIs of the Year Awards. Then in the historic tax credit section, he has news about one state historic tax credit program that escaped elimination just a few weeks ago and has since then awarded $27.5 million in credits for preservation projects across the state. He closes out with the renewable energy tax credit section, where he talks about the efforts of two groups to extend the renewable energy production tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off talking about the fiscal year 2016 funding bill approved by the Senate Appropriations Committee for Transportation, Housing and Urban Development, and Related Agencies. In particular, he discusses which affordable housing program could get slashed by more than $800 million. In the low-income housing tax credit segment, he shares what the Supreme Court’s recent ruling on housing discrimination could mean for the affordable housing community. Then, he highlights a new report on the state of the nation’s housing and how cuts to federal programs could be detrimental to low-income families. In new markets tax credit news, he updates listeners on the status of legislation to make the new markets tax credit a permanent part of the tax code. In the historic tax credit section, he shares news about three state historic tax credit programs. They include an extension and an expansion, plus a new provision in one state historic tax credit program that’s good news for nonprofits. In the renewable energy tax credit section, he talks about federal legislation that was introduced in both the House and Senate last week that could make renewable energy more attractive to private investors.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section, with a discussion about the status of the Senate Transportation, Housing and Urban Development (THUD) funding bill for fiscal year 2016. Then, he talks about when House Ways and Means Chairman Paul Ryan would like Congress to tackle tax extenders legislation. In the low-income housing tax credit segment, he shares the latest guidance from the U.S. Department of Housing and Urban Development on its Rental Assistance Demonstration, or RAD, program. Then, he touches on the Federal Housing Finance Agency’s annual report to Congress. After that, he shares a California Supreme Court decision that gives significant power to local governments when setting affordable housing standards for developers. Also in that section, he highlights a report on how the federal low-income housing tax credit is doing in Tennessee. In new markets tax credit news, he provides details about a new awards management information system that will be implemented by the Community Development Financial Institutions (CDFI) Fund. In the historic tax credit section, he has great news about two state historic tax credit programs. Then, in the renewable energy tax credit section, he shares what the IRS has to say about safe harbor guidance for the renewable energy investment and production tax credits. Then, he closes with news on a bill that could amend Louisiana’s solar energy tax credit bill.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with a discussion about the status of the House Transportation, Housing and Urban Development funding bill for fiscal year 2016 and why both House and Senate leadership may consider legislation to increase spending caps. In the low-income housing tax credit segment, he provides updates on a handful of California affordable housing bills, including one that could increase the amount of state low-income housing tax credits by $300 million per year. Then, he shares an opportunity for listeners to learn or get a refresher on what they need to know about determining low-income housing tax credit eligible basis. In new markets tax credit news, he highlights the new markets tax credit allocations for the 2014 funding round. Then, he discusses what the New Markets Tax Credit Coalition learned about program investments in the past year through its annual progress report. Following that, he shares some highlights from our Novogradac New Markets Tax Credit Conference in Washington, D.C. last week. After that, he shares how listeners can nominate their favorite projects for a Novogradac Journal of Tax Credits Community Development Qualified Low-Income Community Investments Award. In historic tax credit news, he addresses the latest progress on a legal debate about what fully constitutes a historic tax credit partnership. Then, he tells listeners about how a widely successful state historic tax credit program is in danger of being discontinued. Then, in the renewable energy tax credit section, he talks about a recent private letter ruling and what it said about reflective roofs as energy property, making them potentially eligible for the federal investment tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with a discussion about why the president has issued an early veto threat to the fiscal year 2016 THUD appropriations bill that the House Appropriations Committee approved in May. He also shares how that veto threat could affect Republicans’ strategy to advance their budget plan. In the low-income housing tax credit segment, he talks about changes HUD is considering for how it calculates rental limits in certain housing markets. Then, he shares news about the president’s new top housing advisor. Next, he addresses a state bill that would alter the rights of first refusal for acquiring low-income housing tax credit properties in Texas. In new markets tax credit news, he’ll share some informative statistics on NMTC investments from the program’s inception through fiscal year 2013. After that, he’ll discuss changes to Nebraska’s state NMTC that could make it more attractive to a larger number of investors. In historic tax credit news, he highlights an updated report from the Office of the Comptroller of the Currency on how historic tax credits have brought new life to older communities. Then, in renewable energy tax credit news, he informs listeners which national group of leaders is urging Congress to extend the renewable energy production and investment tax credits immediately. Lastly, he provides a look at why the Government Accountability Office suggests the IRS be required to collect information on taxpayers who claim renewable energy production and investment tax credits.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, talks about the status of Senate Appropriations Committee fiscal year 2016 allocations for the Departments of Transportation, Housing and Urban Development. Then, he reviews a proposed rule change by the Federal Reserve that could be good news for municipal bonds. In the low-income housing tax credit section, he discusses what tax credit and tax-exempt bond relief measures were authorized last week for counties affected by severe storms in Oklahoma and Texas. After that, he provides details on an introduced bill that could make it easier for homeless or formerly homeless students and veterans to find affordable housing. He closes out the section with information on how property owners and managers can learn more about operating expense trends for low-income housing tax credit properties. In new markets tax credit news, he tells listeners how much support was received for a sign-on letter urging Congress to permanently extend the new markets tax credit. In historic tax credit news, he shares a change in how a qualified commercial structure is defined for purposes of the Colorado state historic tax credit. In the renewable energy tax credit section, he discusses a new bill that would extend the renewable energy investment tax credit rate for another 5 years. In state-level news, he talks about a bill that makes several changes to state renewable energy tax credit standards in Kansas.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, opens the podcast with the general news section, discussing progress on a bill that could advance evidence-based policymaking within the federal government. Then, he gives the latest news on the Senate Finance Committee’s five tax reform working groups. In the low-income housing tax credit section, he shares a report illustrating the gap between wages and rents across the country. Then, he discusses why California could potentially see an extra $200 million available for green housing investments. He also talks about an upcoming webinar on low-income housing tax credit acquisition and rehabilitation developments. In new markets tax credit news, he provides an update on two companion bills that would permanently extend the New Markets Tax Credit program. He also tells listeners how they can participate in a sign-on letter that two congressmen are circulating in support of a new markets tax credit extension. Next, he shares the three winners of our Novogradac Community Development Individual Achievement Awards who have greatly contributed to the New Markets Tax Credit program. In historic tax credit news, he shares an update on a North Carolina state historic tax credit bill and how it fits into the proposed state budget plan. Then, he closes out this week’s podcast with our renewable energy tax credit section, where he reports on a recent Nebraska renewable energy tax credit bill and how it fared after it advanced out of committee.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off the general news section by talking about the T-HUD appropriations bill passed by the House Appropriations Committee last week. In the low-income housing tax credit section, he shares a Chief Counsel Advice Memorandum from the IRS and what it says about conflicting tenant income requirements among different programs. Then, he discusses a report from HUD on the relationship between state qualified allocation plans and the location of low-income housing tax credit properties. Next, he addresses two news items from Missouri: One is about a low-income housing tax credit assessment bill and the other is a proposed change that could help increase housing options for survivors of domestic violence. Also in state news, he discusses a memo that would clarify application requirements for California redevelopment agencies that financed state low-income housing tax credit properties. In new markets tax credit news, he shares the latest Qualified Equity Investment Issuance or QEI report. He also discusses which governor last week vetoed a bill that would have created a New Markets Tax Credit program in his state. In historic tax credit news, he shares an update on historic tax credit guidance that may be released this summer concerning income inclusion and partnership income. He also summarizes a bill that would allow counties and cities to create their own historic preservation incentives in North Carolina. He then outlines Georgia’s newly expanded state historic tax credit. In the renewable energy tax credit section, he reports on a state bill that is designed to make renewable energy investments more attractive in Colorado.
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 Wisconsin Department of Revenue and what it said about nonprofits’ rights to claim the state HTC. In the renewable energy tax credit section, he shares news about recently enacted safe harbor legislation in North Carolina that could mean $180 million or more in additional tax credits awarded over the next five years.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses some tax credit amendments filed to an education savings plan bill. Then, he shares some recommendations submitted to the Senate Finance Committee tax reform working groups. More specifically, he outlines some of the suggestions made to improve the low-income housing tax credit, new markets tax credit and renewable energy tax credits. In the affordable housing section, he talks about what the House Transportation-HUD Appropriations Subcommittee included in its fiscal year 2016 spending bill. Then, he’ll provide a state-level item about lowincome housing tax credit awards in Wisconsin. In the same section, he shares news about an affordable housing leader who is retiring after 40 years of service to the industry. In the new markets tax credit section, he discusses an upcoming advisory board meeting for the entity that administers the New Markets Tax Credit program: the CDFI Fund. Then, in the historic tax credit section, he talks about how listeners can learn or get a refresher on the essentials of the historic tax credit program. In the renewable energy tax credit section, he examines three Louisiana bills that endanger the state’s solar energy tax credit and how the bills could have an adverse effect on the state’s economy.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts by talking about the progress congressional lawmakers are making in finalizing a joint budget agreement. He also shares updated guidance from the Financial Accounting Standards Board on how nonprofits should present their financial statements. In the affordable housing section, he discusses how the House Appropriations Committee last week approved fiscal year 2016 allocation for funding the Departments of Transportation and Housing and Urban Development. Then, he talks about a private letter ruling released by the IRS that could affect how LIHTC developers think about eligible basis under Section 42. He also shares news about an upcoming webinar designed to help LIHTC property owners and managers avoid tax credit recapture. To close out the section, he discusses news about a national leader in affordable housing who is retiring this summer. In the new markets tax credit section, he talks about how listeners can join and contribute to the New Markets Tax Credit Working Group. In the historic tax credit section, he provides recommended practices for structuring transactions so that they satisfy safe harbor requirements. In the same section, he shares a state-level example of what can happen when tax credit investments are not structured properly. After that, he outlines some new regulations adopted for the Iowa state historic tax credit that will go into effect in a few weeks. In the renewable energy tax credit section, he discusses a bill that was introduced to phase out and repeal the federal renewable energy production tax credit. To close out this week’s podcast, he talks about a recent report on how the solar industry could be in trouble if the investment tax credit is not extended.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the progress lawmakers have made in negotiating a fiscal year 2016 budget and when a final agreement can be expected. In the affordable housing section, he shares news about a hearing that was held by the House Committee on Financial Services last week and what witnesses had to say about the low-income housing tax credit. Then, he addresses question sent in by a Tax Credit Tuesday listener on how HUD views equity bridge loans that come from outside of the operating partnership. After that, he discusses a new bond program in California that could help build more affordable housing across the state. In the new markets tax credit news, he provides a cosponsor update on bills that would make the new markets tax credit a permanent part of the tax code. In the historic tax credit section, he talks about a court ruling in Rhode Island that underscores the importance of placed in service dates. In the renewable energy tax credit section, he shares the 2015 reference rates and inflation adjustment factors for the production tax credit. He’ll end with news about state renewable energy tax credit bills in two states: New Mexico and North Carolina.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, talks about several deadlines that are coming up tomorrow, April 15. In the affordable housing section, he shares news about legislation that would expand funding for the National Housing Trust Fund and the low-income housing tax credit. Then, he discusses interim guidance from the U.S. Department of Housing and Urban Development (HUD) on subsidy limits for the HOME program. Next, he provides highlights from a HUD webcast on the challenges and opportunities of building affordable housing. After that, he talks about the upcoming Novogradac Developer-Syndicator Relationship Webinar. In new markets tax credit news, he announces the opening of the fiscal year 2015 round of the CDFI Bond Guarantee program. He also addresses a change to CDFI certification requirements. He closes out the section with the amount of qualified equity investments finalized in March by new markets tax credit (NMTC) allocatees. In the historic tax credit section, he reviews recently passed legislation in Arkansas that extends the state historic tax credit program. He closes out this week’s podcast with the renewable energy tax credit section and a ruling on a Section 1603 Treasury grant.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with a discussion about what can be expected from Congress in the next week as the deadline to pass a joint conference agreement on a budget approaches. He also talks about advocacy efforts to protect an important tool for affordable housing and community development: tax-exempt municipal bonds. In the affordable housing section, he shares news about when and how state agencies can designate an entity to administer the National Housing Trust Fund program. He also provides guidance from the U.S. Department of Housing and Urban Development regarding rental assistance transfer rules. In new markets tax credit news, he talks about a bill that would create a new markets tax credit in the state of Georgia. Then, he discusses how listeners can help honor individuals who have advanced the new markets tax credit and have made a positive impact on the field of community development. In historic tax credit news, he addresses efforts to preserve the effectiveness of the historic tax credit in light of potential tax reform. Finally, he closes with the renewable energy tax credit section. He shares legislation that would significantly increase the state renewable energy tax credit in Nebraska. He also talks about a bill in New Mexico that would extend the state investment tax credit through the year 2024.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off by talking about the budget proposals that the House and Senate passed last week, and what the next procedural steps will be in the coming weeks. In the affordable housing section, he discusses the final rule issued by the Federal Housing Finance Agency on allocations made by Fannie Mae and Freddie Mac to the Housing Trust Fund and Capital Magnet Fund. Then, he talks about a new HUD proposal that would further protect survivors of domestic violence against housing discrimination. After that, he shares some state-level news about what Wisconsin is doing to incentivize high-impact affordable housing. In new markets tax credit news, he provides cosponsor updates to both House and Senate legislation that would make the new markets tax credit permanent. In the historic tax credit section, he discusses the extension of the Arkansas state historic tax credit program. He closes the podcast with the renewable energy tax credit section. He discusses recent comments from the Secretary of the Interior in support of renewable energy tax credits. He also talks about a renewable energy tax credit proposal in North Carolina.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the Republican House and Senate Budget Committee resolutions that were released last week. He also shares information about how listeners can submit comments on what guidance the Internal Revenue Service should prioritize in 2015 and 2016. In low-income housing tax credit news, he discusses a memorandum from the IRS that clarifies whether units for managers or maintenance personnel in a low-income housing tax credit property are eligible for the credit. Then he talks about a bill that could increase financing for energy-efficient updates in government-subsidized housing. After that, he shares a report about rental cost burdens on working families and how the low-income housing tax credit is helping to address the affordability crisis. In new markets tax credit news, he discusses a report that examines how the new markets tax credit could better serve minority and women entrepreneurs. In the historic tax credit section, he talks about a bill to expand the Georgia state historic tax credit. He also discusses a bill from Alabama that could make the state historic and new markets tax credit programs less attractive to investors. He closes with a report from the Department of Energy on the future of wind power.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with updated baseline projections from the Congressional Budget Office and what it expects the federal debt and deficit to look like in the next year and beyond. He will also discuss news about how listeners can contribute to tax reform discussions in Washington. In affordable housing news, he shares an analysis of the 2015 HUD rent and income limits. Then he talks about a report that points out the importance of funding affordable housing that serves extremely lowincome households. He also has a state-level update from Georgia on how the value of lowincome housing tax credit properties will be assessed for property tax purposes. In new markets tax credit news, he provides information on the latest Qualified Equity Investment Issuance Report and why, not surprisingly, the amount of investments finalized in February dropped by nearly 90 percent from the previous month. Then, in historic tax credit news, he addresses a report on the Wisconsin state historic tax credit, which is in danger of being scaled back dramatically. Finally, he closes with the renewable energy tax credit section by discussing the updated and much-anticipated “beginning of construction” guidance for the renewable energy production tax credit and investment tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, talks about the federal debt ceiling and why Treasury Secretary Jacob Lew is urging Congress to raise the debt limit as soon as possible. He also discusses updated consolidation guidance from the Financial Accounting Standards Board, and shares information about a new bill that was introduced to promote public-private partnerships in social enterprises. In affordable housing news, he shares key information about the release and implementation of HUD’s fiscal year 2015 income limits. Then, he provides details on a new proposal package in California that would increase the annual state low-income housing tax credit cap by $300 million. In new markets tax credit news, he shares a Senate bill (S. 591) that was introduced to make the new markets tax credit a permanent part of the tax code. Then, he talks about how listeners can comment on the CDFI Fund’s proposed annual assessment for the CDFI Bond Guarantee program. He announces a nominations deadline extension for the Novogradac Journal of Tax Credits Community Development Individual Achievement Awards. In historic tax credit news, he reviews the National Park Service’s annual report on the federal historic tax credit. In state-level news, he talks about a second chance for California to have its own state historic tax credit program. He closes with the renewable energy tax credit section, in which he addresses a budget proposal in Louisiana that could scale back several of the state’s tax credit programs, including its wind and solar tax credit. He also discusses how North Carolina’s renewable energy investment tax credit is proving to be a sound investment.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins the general news section with more information about the status of the Senate’s tax reform working groups. He also talks about a stakeholder letter urging lawmakers to protect the effectiveness of municipal bonds. Then, he announces that he will discuss a consolidation guidance update from the Financial Accounting Standards Board in next week’s podcast. In the affordable housing section, he shares information on a new bill that was introduced to create a permanent credit percentage floor for the federal low-income housing tax credit. He also discusses a state-level bill from California that could mean an extra $300 million in state low-income housing tax credits. In the new markets tax credit section, he discusses a cosponsor update on the New Markets Tax Credit Extension Act of 2015. In historic tax credit news, he answers a question sent in by a Tax Credit Tuesday listener on a topic that many listeners can relate to: tax credit advocacy. Finally, he closes this week’s podcast with the renewable energy tax credit section. He talks about a bill to repeal federal renewable energy tax credits. Then he discusses a report on why North Carolina’s red-hot solar industry is in danger of cooling down.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off by discussing the Council of Economic Advisers’ annual report. In affordable housing news, he reviews an energy-efficiency report from Virginia and how it could encourage more state housing agencies to incentivize green building standards. In other state-level news, he talks about how a multi-billion-dollar state budget surplus in New York could dramatically increase the state’s low-income housing tax credit cap. In new markets tax credit news, he provides a legislative update mentioned in last week’s podcast regarding the New Markets Tax Credit Extension Act of 2015 (H.R. 855). He discusses what sponsors are doing to rally support for the legislation that could finally make the new markets tax credit permanent. In historic tax credit news, he shares a new report from the Advisory Council on Historic Preservation on how historic federal properties contribute to local economic development. In renewable energy tax credit news, he talks about why some wind projects worth billions of dollars are currently on hold and what green light they’re all waiting for.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off the general news section with a few updates from the Senate Finance Committee. He discusses bills that the committee marked up last week and what that markup process could indicate about how the committee will handle tax reform proposals. He also discusses a Senate Finance Committee hearing on lessons that could be learned from the last major overhaul of the tax code, nearly 30 years ago. Then he touches on a report that was released by the Joint Committee on Taxation on the history of tax expenditures, and he provides an update from the Office of the Comptroller of the Currency, or OCC, on revised assets thresholds with regard to Community Reinvestment Act rules. In affordable housing news, he talks about the U.S. Department of Housing and Urban Development (HUD) and its latest efforts to align operations with the Low-Income Housing Tax Credit (LIHTC) program. He also shares a new plan between HUD and the state of California to improve energy efficiency in multifamily housing. He closes the section with a new comment letter to the IRS from the LIHTC Working Group on tenant relocation costs. In new markets tax credit news, he provides details on a federal bill that would extend the new markets tax credit permanently. He also talks about two other provisions of the bill that would make the new market tax credit even more effective. Turning to historic tax credit news, he discusses two state-level bills. One would dramatically increase the per-project cap for Georgia’s state historic tax credit. The other is an omnibus bill in North Carolina that would bring back several expired tax credits, including the state historic tax credit program. In renewable energy tax credit news, he shares news about a bill that would extend and expand the state production tax credit in New Mexico.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts the general news section by talking about the Congressional hearings held last week on the president’s proposed budget for fiscal year 2016. Next, he shares some news on seven extenders bills that were approved by the House Ways and Means Committee and what that approval could mean for tax reform in the coming year. Then he’ll address the individual rosters for the Senate tax reform working groups. In the affordable housing section, he shares some news about HUD reviewing waitlist applications for the Rental Assistance Demonstration program. After that, he reviews two different housing needs reports. One was issued by HUD on worst-case housing needs across the country. The other is a housing needs assessment for the state of Vermont, where thousands of affordable housing units are set to exit their compliance period or lose their subsidies in the next five years. In new markets tax credit news, he shares the latest Qualified Equity Investment Issuance Report and the likely reason there was $793 million in investments finalized in January. In historic tax credit news, he talks about a proposed $10 million annual cap on Wisconsin’s state historic tax credit. Then he’ll discuss what North Carolina’s governor is doing to re-establish a state historic tax credit after the previous state credit expired in December. In the renewable energy tax credit section, he discusses the IRS soliciting allocation applications for about $1.3 billion in new clean renewable energy bonds, or New CREBs.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins by talking about the president’s budget request for fiscal year 2016 and what his proposals could mean for the tax credit community. Then, he discusses the Congressional Budget Office’s budget and economic outlook for the years 2015 through 2025. He also talks about the new subcommittee leaders of the Senate Banking, Housing and Urban Affairs Committee. In the low-income housing tax credit section, he discusses the Housing Trust Fund interim rule that HUD published last week. He also discusses the estimated allocations from the Housing Trust Fund, as projected by the National Low-Income Housing Coalition. In related news, he briefly mentions a bill that was introduced in Congress that would prevent Fannie Mae and Freddie Mac from funding the Housing Trust Fund and Capital Magnet Fund while they’re under conservatorship. Next, he provides information about a webcast and a webinar that are coming up this week on tax exempt bonds and low-income housing tax credit compliance. He closes the section with news of Buzz Roberts, who is leaving the U.S. Treasury Department to head the National Association of Affordable Housing Lenders. In new markets tax credit news, he shares some details about a new bill that’s about to be introduced that would make the new markets tax credit a permanent part of the tax code. Then, he discusses a new bill in California that would create a $200 million state New Markets Tax Credit program. In historic tax credit news, he addresses a memo issued by the IRS and what it clarifies for Section 50(d) income. Following that, he shares state-level news items about the historic tax credit programs in Rhode Island and Iowa. In the renewable energy tax credit section, he discusses what Sen. Michael Bennet of Colorado recently had to say about extending the production tax credit. He closes with news of a bill that was introduced in Oklahoma to reduce the state production tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses President Obama’s upcoming State of the Union Address. He also talks about deadlines that could have major policy and fiscal consequences if Congress doesn’t address them properly. He then shares some news about new tax reform working groups formed by Senate Finance Committee Chairman Orrin Hatch and Ranking Member Ron Wyden. In the low-income housing tax credit section, he addresses occupancy protection guidelines for housing, and a new HUD report that provides an overview of the populations served by the low-income housing tax credit. He also discusses the disparate impact Supreme Court case that could determine what constitutes discrimination under the Fair Housing Act, as well as what Pennsylvania is doing to promote green building through its 2015 qualified allocation plan. In the new markets tax credit segment, he talks about two state bills that could help Minnesota and Indiana compete with neighboring states for NMTC investor dollars. In historic tax credit news, he explains why the state historic tax credit and other programs could be in danger of elimination in Utah. In the renewable energy tax credit section, he shares details regarding the new investment tax credit guidance for small wind energy projects. He wraps things up with praise for solar energy and the investment tax credit from a surprising source.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the latest news on a House rules change that could affect the future of tax reform. He also shares the Internal Revenue Service’s revised list of provisions on which it will not issue letter rulings or determination letters. In low-income housing tax credit news, he discusses proposed administrative regulation changes for HUD multifamily housing. He also talks about some changes that Virginia has made to its qualified allocation plan. Next, he discusses a report that highlights the accomplishments of the low-income housing tax credit and the state program that supports it in the state of Maryland. In the new markets tax credit section, he reviews the latest Qualified Equity Investment Issuance Report. In historic tax credit news, he provides information on efforts to preserve the historic tax credit program of one state and efforts to reestablish a historic tax credit program in another. In the renewable energy tax credit section, he talks about one U.S. Senator’s push to make the renewable energy production tax credit a longer-term policy. Finally, he discusses how one state renewable energy tax credit program has been so successful that it is already maxed out through the year 2022.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA starts off by summarizing the first orders of business for the new Congress and how an expected House rule change could affect tax credit legislation in the current session. In the low-income housing tax credit section, he discusses an update on the progress of HUD’s Rental Assistance Demonstration program. He also shares a memo from HUD concerning marijuana use in subsidized multifamily housing properties. He closes the section with state-level news from Iowa, where a new Workforce Housing Tax Incentives program will be administered. In the new markets tax credit segment, he talks about some updates that the Community Development Financial Institutions Fund issued on its frequently asked questions document on new markets tax credit compliance. In the historic tax credit section, he shares news about an Oregon state bill that is expected to be introduced next month to create a state historic tax credit program. In the renewable energy tax credit section, addresses why a renewable energy leader thinks 2015 could be a big year for U.S. renewable energy policy. Finally, he discusses an open letter sent by environmental groups, urging their Montana congressional delegation to extend the renewable energy production tax credit and investment tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with an outlook on the potential for tax reform in 2015. He also shares news about a potential change in leadership for the Joint Committee on Taxation and certain change in leadership for the Congressional Budget Office. In the low-income housing tax credit section, he addresses HUD’s clarification to prevailing wage rules for the Rental Assistance Demonstration (RAD) program. He also discusses HUD’s year-end review of its programs. Next he reviews the National Low Income Housing Coalition’s report on how well federal programs address the housing needs of extremely low-income households. In the new markets tax credit segment, he talks about the importance of the New Markets Tax Credit program to rural communities, particularly in terms of health care services and job creation. In historic tax credit news, he provides state-level updates regarding awards announcements under the Ohio Historic Preservation Tax Credit program, as well as a new Nebraska state historic tax credit program that will begin accepting applications this week. Finally, he discusses two reports that call for a more coherent and predictable energy policy.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with an update from Washington regarding a spending package and tax extender legislation, both signed by President Barack Obama last week. He also shares an update about congressional committee assignments for 2015. Next, he discusses a recent report on how “lifecycle underwriting” and other strategies could affect the long-term affordability and availability of low-income housing properties. He also talks about a California state low-income housing tax credit introduced for rehabilitating older housing that serves rural, very-low and extremely-low-income tenants. In the new markets tax credit segment, he shares the findings of a report on how diverse investments in economically underserved neighborhoods can improve entire communities. In the historic tax credit section, he reviews a recent announcement of awardees under Maryland’s state historic tax credit program. Finally, he discusses a report on how renewable energy tax credits can play a significant role in reducing the installation costs of solar photovoltaic systems.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, provides news on the status of a $1 trillion-plus government spending package. He also discusses the progress of tax extender legislation. Next, he reviews a tax reform bill introduced by House Ways and Means Committee Chairman Dave Camp, and he also gives updates on House Ways and Means Committee appointments for the Subcommittee on Select Revenue Measures, and appointments to the Senate Finance Committee. In the low-income housing tax credit section, he shares news on the National Housing Trust Fund and the Capital Magnet Fund, the 9 percent LIHTC floor and the CDFI Bond Guarantee program. He also goes over a new bill introduced to change the frequency of certain income re-certifications. In the new markets tax credit segment, he shares the findings of a New Markets Tax Credit Coalition economic impact report. Next, he discusses the North Carolina state historic tax credit set to expire at the end of this month. Finally, in the renewable energy tax credit section, he talks about a new report highlighting the importance of extending and expanding the renewable energy production tax credit and investment tax credit. He also lets listeners about the new deadline for submitting nominations for the Novogradac Renewable Energy Power Awards.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts things off with news from Washington regarding the consideration of a one-year tax extenders bill. He also discusses the Dec. 11 deadline by which lawmakers will need to pass a spending bill to avoid yet another government shutdown. Next, he provides an update on the status of fiscal year 2015 income limits for properties funded by the U.S. Department of Housing and Urban Development (HUD) or the Low-Income Housing Tax Credit (LIHTC) program. He also has news on a case that may determine what constitutes discrimination under the Fair Housing Act—specifically concerning LIHTC properties. Next, he shares a report on state housing agency use of qualified allocation plans to promote more supportive housing development. He also talks about the confirmation of Nani Coloretti as the new deputy secretary of HUD. In the new markets tax credit segment, he reviews the latest Qualified Equity Investment Issuance Report released Dec. 1. In the renewable energy tax credit section, he talks about the strong support for extending the renewable energy production tax credit and investment tax credit from the Governors’ Wind Energy Coalition. Finally, in the historic tax credit section, he shares some state-level news about the impending expiration of North Carolina’s state historic tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with some news from Washington about how the threat of a presidential veto has affected the progress of tax extender legislation. He also provides an update on the upcoming deadline for Congress to approve new spending authority for federal agencies and discretionary programs in order to avoid yet another government shutdown. In low-income housing news, he addresses how some options presented by the Congressional Budget Office to reduce the federal deficit would hurt the affordable housing community if actually implemented by Congress. He also speaks on Sen. Al Franken’s latest efforts to rally support for providing affordable housing to formerly homeless students and veterans. Then he shares some news about $30 million in grants that will be offered next year through HUD’s Choice Neighborhoods Implementation program, and finally, he rounds out the section with an update to H.R. 4717, a bill that would create a permanent rate floor for the 9 percent and 4 percent low-income housing tax credits. Next, he tells listeners about an opportunity to work with the CDFI Fund on reviewing CDFI Program and Native American CDFI Assistance Program applications. Then he discusses co-sponsor updates to the Creating American Prosperity through Preservation or CAPP Act, and the Rural Heritage Conservation Act of 2013, two bills that would make the historic tax credit more effective and accessible. Finally, he wraps up by reviewing a new poll showing that the majority of voters support extending the production tax credit. He also alerts listeners to where they can hear expert panel discussions on the latest renewable energy tax credit topics.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with a tax extenders update, followed by key House subcommittee appointments. He also talks about a proposal on federal expenditures, and he discusses several tax-extender letters to Congress. In the low-income housing tax credit section, he discusses the possibility of the National Housing Trust Fund and the Capital Magnet Fund finally getting funded. Next, he shares news about a new cosponsor for the New Markets Tax Credit Extension Act of 2013 (S.1133), and he mentions Annie Donovan, newly appointed director of the CDFI Fund. In the historic tax credit section, he addresses how expanded Community Reinvestment Act guidance could encourage greater investment in historic properties in underserved communities. He also has a state-level update regarding the Texas historic tax credit. He closes with the renewable energy tax credit section, where he shares the outlook of two Iowa congressmen on the future of the production tax credit, and a review of “Clean Energy Works for Us: Q3 2014 Jobs Report,” a new report on how more predictable renewable energy tax credit legislation could foster continued growth of the industry.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, reviews the Governmental Accounting Standards Board’s proposal requiring state and local governments to disclose information on their tax abatement agreements. In the low-income housing tax credit section, he discusses two new cosponsors for the LIHTC rate floor bill. He also covers the new passbook savings rate that will apply to HUD’s multifamily programs, as well as reviews an upcoming Senate Banking Committee hearing on the Federal housing Finance Agency. In the new markets tax credit segment, he shares news about the Novogradac New Markets Tax Credit Conference recordings and information about the upcoming conference in January. Then, in the historic tax credit section, he talks about several new sponsors for the Creating American Prosperity through Preservation Act. He also has news about the National Trust for Historic Preservation’s call for legislators to preserve the historic tax credit. He closes with the renewable energy tax credit section, where he provides an update on how clean energy advocates are asking lawmakers to work together on tax extender legislation, and he invites nominations for the Novogradac Journal of Tax Credits Renewable Energy Power Awards.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with a summary of last week’s midterm election results. He also discusses a possible lame duck omnibus appropriations bill and an IRS warning regarding delays in tax extender legislation. Next, he addresses a deadline extension for public comment on HUD’s 2015 Rental Housing Finance Survey, and he shares news about Novogradac’s new webinar, “Financial Statement Audits of Lower-Tier LIHTC Partnerships.” In the new markets tax credit segment, he provides an update on the latest Qualified Equity Investment Report. Next, he reviews the National Trust for Historic Preservation’s report, “Building on Baltimore’s History: The Partnership for Building Reuse.” In the renewable energy tax credit section, he addresses increased lobbying and speculation about the future of energy tax credits, now that the midterm elections are over.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses updates and predictions surrounding Election Day, and key races in Louisiana, Georgia and North Carolina. In low-income housing tax credit news, he reviews inflation adjusted low-income housing tax credit and private activity bond caps for 2015. In the new markets tax segment, he examines an IRS notice regarding economic substance penalties. In the historic tax credit section, he shares news about growing interest in preserving historic barns. He finishes up with the renewable energy tax credit section, where he addresses Energy Secretary Ernest Moniz’s support for renewable energy tax incentives, as well as the PEW Charitable Trust’s report, “Clean Economy Rising: Wind Energy Propels North Dakota Forward.”
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses next week’s midterm elections and Congressional Research Service updates on tax extender legislation. He also informs listeners about the Office of the Comptroller of the Currency’s report describing the benefits of partnerships between banks and community development loan funds. In low-income housing news, he addresses a sign-on letter circulated for the affordable housing community urging lawmakers to extend the minimum 9 percent low-income housing tax credit rate. He also shares an update about sponsorship for the LIHTC rate floor bill (H.R. 4717). In the historic tax credit discussion, he previews the Advisory Council on Historic Preservation’s next quarterly meeting, and shares highlights of recent state-level discussions about the importance of Missouri and North Carolina state historic tax credits. In the renewable energy segment, he reviews the solar community’s plans for national campaign to extend the investment tax credit beyond its current 2016 sunset date. He will also examine data from the American Wind Energy Association’s report that finds the U.S. wind industry had its busiest third quarter ever. He wraps up with the new markets tax credit segment, reminding listeners about the Nov. 10 deadline to comment on CRA guidance that includes a revision related to new markets tax credit investments.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses how the midterm election could affect Senate committee leadership. In low-income housing news, he reviews the release of a California Affordable Housing Development Cost Study, and a recently enacted LIHTC for the District of Columbia. He also addresses the Treasury Office of the Inspector General’s audit of the Missouri Housing Development Commission’s implementation of the Section 1602 cash grant exchange program, a correction regarding a Private Letter Ruling in the Oct. 14 podcast, and an upcoming webinar about the IRS LIHTC Audit Technique Guide. In the new markets segment, he invites listeners to join in the NMTC Coalition’s efforts to extend the new markets tax credit and discusses the CDFI Fund’s new Capacity Building Initiative training series for Native CDFIs. Next, he reports on the Wyoming State Historic Preservation Office’s revisions its statewide historic preservation plan. In renewable energy news, he reviews SEIA’s third annual Solar Means Business report.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses IRS Commissioner John Koskinen’s letter to Sen. Ron Wyden about tax extenders legislation. In the low-income housing tax credit segment, he analyzes trends in the 2015 designated difficult development areas, and reviews private letter ruling 201440013, which addresses Section 1602 funding. In the new markets tax credit section, he reviews the CDFI Fund’s announcement about NMTC demand in Round 12 , and discusses the Treasury’s guarantee of an additional $200 million through the CDFI Bond Guarantee Program. Next, in the historic tax credit segment, he reports on Rep. Niki Tsongas’ support for the federal historic tax credit, and he imparts information about the Ohio state historic preservation tax credit’s incorporation of a new catalytic designation. Finally, in the renewable energy tax credit segment, he explores the role of tax credits in the Texas energy market through the report, “Texas Power Challenge: Getting the Most from Texas Energy Dollars.”
In this week’s episode of the Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the latest Congressional updates on tax reform. He covers HUD’s designation of the 2015 difficult development areas and qualified census tracts, as well as HUD’s final 2015 fair market rents. He also discusses HUD’s issuance of subsidy layering review guidance, welfare exemption laws in California (A.B. 1760 and S.B. 1203) and the Grace Robertson’s retirement from the Internal Revenue Service. Next, he reports on Treasury Secretary Lew’s speech commending the new markets tax credit program, as part of the CDFI Fund’s 20th anniversary. He also discusses the veto of a California state new markets tax credit (A.B. 1399), as well as the latest QEI issuance update. Then he reports on Department of the Interior’s grants to support National Register diversity. Finally, he examines an International Energy Agency’s solar energy report, as well as North Carolina Department of Revenue’s state renewable energy tax credit guidance.
In this week’s episode of the Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, reviews Treasury action on corporate tax inversions and recent CRA performance evaluations. He also addresses Calif. Gov. Brown’s veto of a state historic tax credit and state new markets tax credit. Then, he reports on the 2014 LIHTC National Pool and provides information about the second round of Promise Zone designation applications. Next, he notes the Oct. 1 deadline for the 2014 NMTC allocation application, and reviews analysis of QEIs through round 11. Finally, he informs listeners about the new application fees for Louisiana’s state historic tax credit and discusses the Bridge to a Clean Energy Future Act of 2014 (H.R. 5559).
In this week’s episode of the Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a continuing resolution that will fund government operations until Dec. 11. He also notes several critical issues facing Congress, provides an update on tax extenders and reviews the Tax Technical Corrections Act of 2014. In the low-income housing tax credit segment, he discusses a couple highlights from the IRS’s updated LIHTC Audit Technique Guide. In the new markets tax credit segment, he congratulates the 2014 Community Development Award Winners, and alerts listeners that Nebraska will soon begin accepting applications for its state NMTC. In the historic tax credit section, he examines the Creating Prosperity Through Preservation Act that was recently introduced in the House. Finally, in the renewable energy tax credit segment, he reports on renewable energy tax credit comments made during last week’s Senate Finance Committee hearing.
In this week’s episode of the Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, provides an update on the status of tax extenders legislation. He also previews a Senate Finance Committee hearing that will examine renewable energy tax policy and discusses proposed changes to Community Reinvestment Act guidance. In the new markets tax credit segment, he reminds listeners about the upcoming allocation application deadline and talks about an Ohio bill to decouple state tax credits from their federal counterparts. In the historic tax credit discussion, he reviews some of the updates in the just-published 2014 Novogradac Historic Rehabilitation Handbook. Then, he updates listeners on congressional support for legislation to permanently extend the 9 percent low-income housing tax credit rate floor and create a new 4 percent rate floor. The renewable energy tax credit section touches on how the production tax credit extension is factoring into a midterm election race in North Dakota and shares highlights about the current solar energy market.
In this week’s episode of the Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, reviews Treasury Secretary Jacob Lew’s speech on tax reform, as well as Congress’s return from their state and district work periods. In new markets tax credit news, he discusses the Community Development Financial Institutions Fund’s latest Qualified Equity Investment Issuance Report, and provides an update on California’s state new markets tax credit. In historic tax credit news, he updates listeners on California’s historic tax credit bill, as well as Delaware’s amendments to its state historic tax credit program. In low-income housing tax credit news, he comments on the Federal Housing Finance Agency’s proposed Fannie Mae and Freddie Mac Multifamily Housing Goals and a Harvard Joint Center for Housing Studies and AARP Foundation study about affordable senior housing. In renewable energy tax credit news, he examines the newly released report, “Clean Energy Works for Us: Second Quarter 2014 Report,” which reveals the important role that the production tax credit plays in wind energy production and job creation.
In this week’s episode of the Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, mentions the return of the House and Senate, as well as a speech from Treasury Secretary Jacob Lew about tax reform. In new markets tax credit news, he provides information on the 2014 NMTC application guidance and Sen. Wyden’s support of the NMTC program, as well as a California new markets tax credit bill. In low-income housing tax credit news, he explores the National Low Income Housing Coalition’s report, “Housing Spotlight: The Affordable rental Housing Gap Persists.” In historic tax credit news, he reviews the Historic Tax Credit Coalition’s letter to the Internal Revenue Service regarding Section 50(d) of the Internal Revenue Code, reports on Connecticut’s revision of its historic tax credit program and discusses the possible creation of a California historic tax credit program.
In the 350th episode of the Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, alerts listeners to the 40th anniversary of the Community Development Block Grant program. In lowincome housing tax credit news, he shares some analysis of the proposed fiscal year 2015 Fair Market Rents, and discusses disaster-relief guidance for low-income housing tax credit and taxexempt bond properties. In new markets tax credit news, he discusses the requirements for application reviewers for the 2014 allocation application round and the release of the 2014 electronic application, as well as new bond issuing authority under the CDFI Bond Guarantee program. In renewable energy tax credit news, he shares two Department of Energy reports on the renewable wind industry and the production and investment tax credits.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, he begins with a look at the congressional agenda, and what might be expected, for the rest of the year. In new markets tax credit news, he discusses two reports on the New Markets Tax Credit program that were released last week, a webinar that the Community Development Financial Institutions Fund held on the CIMS3 and a request for reviewers for the 2014 application round. In lowincome housing tax credit news, he alerts listeners to the U.S. Department of Housing and Urban Development’s release of its proposed fiscal year 2015 fair market rents and to Carol Galante’s stepping down from the Federal Housing Administration. In renewable energy tax credit news, he shares information about recent guidance that the Internal Revenue Service released about the start of construction for investment and production tax credit projects. In historic tax credit news segment, he shares the names of the winners of the 2014 Novogradac Historic Rehabilitation awards.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the latest tax credit news. In new markets tax credit news, the opening of the 2014 New Markets Tax Credit program application round and the release of the 2013 allocation agreement template. In low-income housing tax credit news, he discusses a bill that would enable homeless students to qualify for low-income housing tax credit units, as well as a bill to reauthorize the Native American Housing Assistance and Self-Determination Act through the end of fiscal year 2018. In historic tax credit news, he discusses ongoing issues regarding how to treat master tenant income in historic tax credit transactions that use a pass-through structure and a letter that the National Trust for Historic Preservation that calls on Congress to preserve the historic tax credit in a reformed tax code. In renewable energy tax credit news he shares an article in the August Novogradac Journal of Tax Credits that provides some “rules of thumb” for energy investment and production tax credit projects.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a tax reform hearing about the use of dynamic scoring of the Tax Reform Act of 2014 and alerts listeners to Congress’s August recess and retirement of former House Majority Leader Eric Cantor. In the low-income housing tax credit news, he discusses three new bills introduced last week that would affect affordable housing and provides an update on efforts to resume payments to the National Housing Trust Fund. In new markets tax credit news, he provides a more in-depth analysis of the Community Development Financial Institutions Fund’s release of New Markets Tax Credit program data and shares the latest Qualified Equity Investment Issuance Report. In renewable energy tax credit news, he shares information about one Senator’s effort to draw attention to the expired production tax credit and another’s efforts to extend the investment tax credit to biogas projects. In historic tax credit news, he has an update on how the North Carolina historic tax credit program is faring in the state’s budget process.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, alerts listeners to a House Subcommittee on Select Revenue Measures hearing on the Tax Reform Act of 2014 and dynamic scoring. In low-income housing tax credit news, he shares his analysis of the Council of Development Finance Agencies’ report on the use of 2013 volume cap and discusses the results of an audit of the Delaware State Housing Authority’s compliance with the low-income housing tax credit exchange program. In new markets tax credit news, he briefly discusses the Community Development Financial Institutions Fund’s release of New Markets Tax Credit program data, provides an update on the 2014-2015 New Markets Tax Credit program Notice of Allocation Availability and shares information about legislation that would create a state-level new markets tax credit program in North Carolina. In renewable energy tax credit news, he has an update about a case that Alta Wind has brought against the federal government regarding the payment of Section 1603 grants in lieu of investment tax credits. In historic tax credit news, he has information about Pennsylvania’s first round of historic tax credit awards.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, notifies listeners about a bill that would increase low-income housing tax credits, new markets tax credits and historic tax credits for disaster areas; discusses some long-term deficit and national debt projections from the Congressional Budget Office; and alerts listeners to some updates to two of Novogradac & Company’s online mapping tools. In new markets tax credit news, he shares a request for comments from the Internal Revenue Service, a report on the use of new markets tax credits in rural areas and the status of a California new markets tax credit bill. In low-income housing tax credit news, he alerts listeners to a request for comments on Form 8823, checks in on the Housing Trust Fund and announces the opening of the nomination round for the Journal of Tax Credits Developments of Distinction awards. In our renewable energy tax credit news, he shares a recent report that found that renewing the investment and production tax credits would increase renewable energy projects. In our historic tax credit news, he has updates from Wisconsin, where a program moratorium has been partially lifted, and from North Carolina, where the historic preservation and development communities are waiting to hear the fate of the state’s historic tax credits.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, updates listeners on the progress of a bonus depreciation bill making its way through the House of Representatives, shares the details of an upcoming Community Reinvestment Act webinar and provides a quick update on the new leadership at the Office of Management and Budget and the U.S. Department of Housing and Urban Development. In new markets tax credit news, he discusses the Community Development Financial Institutions Fund’s annual performance report and the latest Qualified Equity Investment Issuance report. In low-income housing tax credit news, he has more information about the U.S. Department of Housing and Urban Development’s revision of the 2014 extremely low-income limits, California’s Affordable Housing and Sustainable Communities program and PrezCat a new affordable housing preservation policy resource that was launched earlier this year. In renewable energy tax credit news, he shares a recent blog post written in response to a report from the Lawrence Berkeley National Laboratory. In historic tax credit news, he discusses a new report from the National Trust for Historic Preservation on the impact of federal historic tax credits on communities, as well as shares some good news about Pennsylvania’s historic tax credit program.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, updates listeners on the progress of a bonus depreciation bill making its way through the House of Representatives and shares the 2014 list of distressed or underserved nonmetropolitan middle-income geographies. In historic tax credit news, he discusses the next meeting of the Advisory Council on Historic Preservation and legislation in Pennsylvania that would suspend the state’s historic tax credit program. In low-income housing tax credit news, he has an update about the U.S. Department of Housing and Urban Development’s revision of the 2014 extremely low-income limits, as well as the latest information about new funding for affordable housing in California. In renewable energy tax credit news, he shares a letter asking Congress to take up the EXPIRE Act and discusses a new tool to help state and local officials gather data as they consider their energy policies. In new markets tax credit news, he discusses a recent Senate Indian Affairs Committee hearing on encouraging investment in Indian Country and invites listeners to an exit strategies webinar that Novogradac & Company will be hosting next week.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, updates listeners on the progress of Shaun Donovan and Julian Castro’s nominations for the top spots at the Office of Management and Budget and the U.S. Department of Housing and Urban Development, and he discusses new House Majority Whip Steve Scalise’s voting record and a new report from the U.S. National Advisory Board on Impact Investing. In new markets tax credit news, he alerts listeners to a request for information related to the Community Development Financial Institutions Fund’s efforts to bring more minority community development entities into the New Markets Tax Credit program, discusses a letter from 50 U.S. Representatives that urges an extension of the New Markets Tax Credit program and reminds listeners of the soon-to-beclosed window for nominating CDEs for the Community Development QLICIs of the Year Awards. In low-income housing tax credit news, he discusses the latest “State of the Nation’s Housing” report from the Harvard Joint Center for Housing Studies and the affordable housing programs included in California’s new budget and then shares some news the Internal Revenue Service’s Grace Robertson’s impending retirement. In historic tax credit news, he discusses the federal historic tax credit program, which the National Trust for Historic Preservation has included on its 2014 list of America’s 11 Most Endangered Historic Places, and alerts listeners to a moratorium on Wisconsin’s historic tax credit program. In renewable energy tax credit news, he reports on a Treasury’s Office of the Inspector General audit of six projects funded through the Section 1603 cash grant program, as well as legislation that would extend the investment tax credit to combined heat and power projects and waste heat to power projects.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses House Majority Leader Kevin McCarthy’s voting record, Shaun Donovan’s confirmation hearings for the top spot at the Office of Management and Budget, and Sen. Ron Wyden’s 15-month window for tax reform. In new markets tax credit news, he shares some remarks about the next round of the New Markets Tax Credit program from New Markets Tax Credit Program Director Bob Ibanez, a report from Native American Capital that compares the loan loss rates of new markets tax credit loans to those of collateralized mortgage-backed securities, and the addition of a new qualified issuer for the Bond Guarantee program. In low-income housing tax credit news, he discusses a call from A.C.T.I.O.N. to support for legislation that creates a permanent 9 percent floor for the low-income housing tax credit program, Julian Castro’s remarks at his confirmation hearing for Secretary of the Department of Housing and Urban Development and good news about California’s budget. In historic tax credit news, he shares updates from Rhode Island and Maryland. In renewable energy tax credit news, he alerts listeners to an article about Novogradac Journal of Tax Credits article about development fees for renewable energy projects.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the end of Eric Cantor’s tenure as House majority leader and what that could mean for tax reform. In new markets tax credit news, he shares a report from the New Markets Tax Credit Coalition about the use of the new markets tax credit in 2013 and an emergency rule from Kentucky that addresses recent changes to the state’s new markets tax credit program. In this week’s lowincome housing tax credit news, he discusses support for legislation that creates a permanent 9 percent floor for the low-income housing tax credit program and the passage in the House of a U.S. Department of Housing and Urban Development fiscal year 2015 appropriations bill, as well as an upcoming webcast from the Office of Tax-Exempt Bonds. In historic tax credit news, he has updates from Rhode Island and North Carolina. In renewable energy tax credit news, he discusses guidance from the Internal Revenue Service that addresses sequestration, the Section 1603 program and investment tax credits.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the latest information about potential tax reform and more tax extenders hearings. In new markets tax credit news, he provides a few details about the results of the 2013 new markets tax credit allocation round allocatees, the latest effort to extend the NMTC program and an update on the latest Qualified Equity Investment Issuance report. In low-income housing tax credit news, he provides a few highlights from the Senate Appropriations Committee’s fiscal year 2015 appropriations for Transportation, Housing and Urban Development and related agencies, shares news about the death of a Louisiana property valuation bill that would have raised taxes for low-income housing tax credit properties, discusses legislative efforts to increase the amount of affordable housing in Washington, D.C. and celebrates the Oklahoma low-income housing tax credit. In historic tax credit news, he updates listeners about historic tax credit programs in California and Colorado. In renewable energy tax credit news, he discusses legislation that would enable larger distributed wind projects to qualify for the investment tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the second House Ways and Means Committee’s tax extenders markup. In low-income housing tax credit news, he discusses recent changes to the U.S. Department of Housing and Urban Development’s accessibility standards, as well as the latest effort in Oklahoma to create a state low-income housing tax credit program. He also shares have news from Colorado regarding the reenactment of the Colorado state LIHTC. In new markets tax credit news, he alerts listeners to Novogradac & Company’s upcoming new market tax credit conference and an opportunity to nominate community development entities for this year’s Novogradac Journal of Tax Credits Community Development QLICIs of the Year Awards. He also shares the latest rumors about the announcement of the 2013 NMTC allocations. In historic tax credit news, he shares the governor of North Carolina’s plan to replace the state’s expiring historic tax credit program with a comparable program and a list of historic properties and districts in Arkansas that are in danger of being lost to neglect. In renewable energy tax credit news, he discusses the Internal Revenue Service’s publication of the 2014 inflation factors and reference prices for energy credits.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses President Obama’s official nomination of Shaun Donovan to lead the Office of Management and Budget and Julian Castro to lead the U.S. Department of Housing and Urban Development; he also provides an update on the EXPIRE Act. In new markets tax credit news, he shares the names of five new cosponsors for the New Markets Tax Credit Extension Act, testimony on the president’s proposed budget for the Community Development Financial Institutions Fund and the name of a new qualified issuer for the CDFI Bond Guarantee program. In this week’s lowincome housing tax credit section, he summarizes legislation introduced that would create a permanent tax rate floor for both the 9 percent and 4 percent low-income housing tax credits, and discusses fiscal year 2015 funding for rural housing and the Department of Housing and Urban Development, and an increase in compliance fees in Louisiana. In historic tax credit news, he shares a report that suggests that cities that preserve and reuse older, smaller buildings fare better in the long term, and he alerts listeners to a new grant program from the Advisory Council on Historic Preservation. In renewable energy tax credit news, he discusses two amendments recently introduced by Sen. Tom Carper that would extend the 30 percent investment tax credit and clarify that waste heat to power technology qualifies for the investment credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses possible changes in leadership at the U.S. Department of Housing and Urban Development and the Office of Management and Budget, and provides an update on tax extenders legislation. In new markets tax credit news, he shares a new guide from Federal Deposit Insurance Corporation that helps community banks identify and evaluate opportunities to partner with Community Development Financial Institutions, the opening of the 2014 application round for the Bond Guarantee program and two new cosponsors for the New Markets Tax Credit Extension Act. In this week’s low-income housing tax credit news, he summarizes a talk that Federal Housing Finance Agency Director Mel Watt gave last week about the future of Fannie Mae and Freddie Mac. In renewable energy tax credit news, he shares a report from the Lawrence Berkeley National Laboratory that explores three different scenarios for making the most of renewable energy tax credits. In historic tax credit news he shares news from Nebraska, where the governor recently signed legislation that creates a new state historic tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the latest developments in Congress to extend expired and expiring tax provisions. In new markets tax credit news, he reviews the most recent Qualified Equity Investment Issuance Report, updates listeners about the status of the 2013 allocation round and discusses an Enterprise Community Partners report about the role of new markets tax credits in bringing healthy food options to lowincome communities. In low-income housing tax credit news, he shares the latest information about S. 1217, the Johnson-Crapo bill that would eliminate Fannie Mae and Freddie Mac, alerts listeners to property compliance training opportunities and details a bill in Louisiana that could negatively affect low-income housing tax credit properties. In historic tax credit news, he reviews the fiscal year 2015 appropriations to the Historic Preservation Fund and describes changes to the Alabama historic tax credit program. In renewable energy tax credit news, he discusses recently released guidance about renewable energy investments for real estate investment trusts and highlights 27 companies that have partnered with the U.S. Department of Housing and Urban Development to use solar energy at their properties.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a House Ways and Means Committee mark up of several bills that are part of the tax reform package, and potential changes to the generally accepted accounting principles for tax credit investments. In new markets tax credit news, he shares a report from the Wisconsin Housing and Economic Development Authority about how tax credit projects have provided jobs and support to emerging businesses, and discusses a new Mississippi law that requires the state to evaluate the effectiveness of its tax incentive programs. In low-income housing tax credit news, he addresses the cancelation of a mark up of the Johnson-Crapo bill, as well as reveals the results of a Government Accountability Office report on the Rental Assistance Demonstration program. In historic tax credit news, he shares good news about an extension of the Mississippi historic tax credit program and information about an Iowa bill that would improve the use of the state’s historic tax credits. In renewable energy tax credit news, he shares a report about how policy mechanisms are affecting renewable energy production in the United States, and an Iowa bill that would extend the project completion deadline for the state’s energy generation tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses new Community Reinvestment Act guidance from the Office of the Comptroller of the Currency and a new score for the president’s fiscal year 2015 budget from the Congressional Budget Office, and shares the results of Novogradac & Company’s analysis of the National Disaster Tax Relief Act. In low-income housing tax credit news, he discusses a report from Moody’s Investment Service that found that housing finance agency multifamily programs remained strong and profitable through 2013. In new markets tax credit news, he invites listeners to attend the Novogradac New Markets Tax Credit Spring Conference this June and alerts them to a temporary shutdown of the CDFI Fund website. In historic tax credit news, he shares a report about the disposal of historic post office buildings and reminds listeners about the opening of Pennsylvania’s historic tax credit program. In renewable energy tax credit news, he provides a recap of the Novogradac Financing Renewable Energy Conference.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses legislation that would extend the New Markets Tax Credit program for one year and enable military families to exclude their basic housing allowance from income when calculating their eligibility for lowincome housing tax credit units in certain areas. In new markets tax credit news, he invites listeners to participate in the New Markets Tax Credit Working Group’s activities. In low-income housing tax credit news, he shares information about legislation that would create a renter’s tax credit and a plan in California that could direct billions of dollars to transit-oriented development. In historic tax credit news, he shares an update about the Mississippi historic tax credit. In renewable energy tax credit news, he alerts listeners to proposed extensions of the production and investment tax credits.
In this week’s Tax Credit podcast, Michael J. Novogradac, CPA, discusses new legislation that would increase tax credits for areas recently affected by natural disasters, and he updates listeners about Ways and Means tax reform hearings and the House of Representatives’ passage of a fiscal year 2015 budget. In new markets tax credit news, he shares legislation from Kentucky that has doubled the amount of credit available through the state’s new markets tax credit program. In low-income housing tax credit news, he discusses the reorganization of the U.S. Department of Housing and Urban Development’s Office of Multifamily Housing and a report on low-income housing tax credit housing in Nevada. In historic tax credit news, he shares information about legislation that would make it easier for large, multiphase projects to claim the Maine historic tax credit. In renewable energy tax credit news, he comments on ongoing issues surrounding the sequestration cuts to the Section 1603, Grants for Specified Energy Property in Lieu of Tax Credits.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a Senate Finance Committee tax extenders package, a House Ways and Means Committee hearing on tax reform and a House Budget Committee fiscal year 2015 budget proposal. In low-income housing tax credit news, he discusses the latest Low-Income Housing Credit Newsletter from the IRS and update listeners on a bill that would create a state low-income housing tax credit in Oklahoma. In new markets tax credit news, he covers legislation that would make permanent the New Markets Tax Credit program, as well as the latest Qualified Equity Investment Issuance Report from the CDFI Fund. In historic tax credit news, he shares information about changes to the historic tax credit program application and fee payment method. In renewable energy tax credit news, he shares the results of an audit of the Section 48C, the Qualifying Advanced Energy Project Credit, a report on the energy marketplace and two Iowa renewable energy tax credit bills.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the latest in the tax reform and tax extenders debate, and reminds listeners about the effective date of the final Volcker rule. In low-income housing tax credit news, he discusses updated investment guidance on the Low-Income Housing Tax Credit program from the Office of Comptroller of the Currency, another housing finance reform bill, a report that compares average rents to average wages and a Georgia bill that would create more favorable property tax assessment rules for LIHTC properties. In new markets tax credit news, he discusses a report on the Capital Magnet Fund and a bill that would change Ohio’s new markets tax credit program. In historic tax credit news, he shares the results of an audit of Missouri’s historic tax credit program. In renewable energy tax credit news, he reminds listeners about the upcoming San Francisco Renewable Energy Conference.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, explores tax extender legislation and a request from the Treasury and Internal Revenue Service for suggestions on priority guidance in 2014 and 2015. In low-income housing tax credit news, he discusses an audit of New Mexico’s management of Section 1602 tax credit exchange program funds and the U.S. Department of Agriculture’s plan for implementing the new definition of “rural.” In new markets tax credit news, he discusses a call from Sen. Sherrod Brown of Ohio to extend the New Markets Tax Credit program and set aside funds specifically for communities affected by manufacturing job losses, and shares a letter about the New Markets Tax Credit program application process that the New Markets Tax Credit Working Group sent to the CDFI Fund. In historic tax credit news, he has information about a Mississippi bill that would have extended the state’s historic tax credit program and an Indiana bill that orders a state commission to compare the existing tax credit program to a grant program. In renewable energy tax credit news, he shares a letter from 28 Senators that asks for an extension of the 30 percent investment tax credit for solar projects to be included in any tax extenders legislation and an Iowa bill that would increase the amount of tax credits that projects can receive.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, explores possible successors to House Ways and Means Committee Chairman Dave Camp and potential reform at Fannie Mae and Freddie Mac. In low-income housing tax credit news, he discusses legislation that would alter tenant eligibility rules for low-income housing tax credit housing, legislation to create a low-income housing tax credit in Washington, D.C. and an audit of Missouri’s low-income housing tax credit program. In new markets tax credit news, he alerts listeners to a recent job announcement from the Community Development Financial Institutions Fund and a letter from the New Markets Tax Credit Coalition that asks congressional leaders to extend the program. In historic tax credit news, he shares information about the National Park Service’s annual report on the historic tax credit program, an Advisory Council on Historic Preservation report on protecting cities as they adjust to the changing economy, an update on potential Tennessee historic tax credits and information about the distribution of Texas historic tax credits. In renewable energy tax credit news, he reminds listeners about Novogradac’s upcoming renewable energy conference in San Francisco.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses President Obama’s fiscal year 2015 budget proposal and discuss possible candidates for the next House Ways and Means Committee Chairman. In low-income housing tax credit news, he discusses the U.S. Department of Housing and Urban Development and low-income housing tax credit provisions in the president’s budget, as well as legislation that would create an Oklahoma lowincome housing tax credit. In new markets tax credit news, he shares the president’s plans for the new markets tax credit program and a new tax credit program, as well as the latest Qualified Equity Investment Issuance Report and a request for information about community development entities’ 2013 new markets tax credit program activities. In historic tax credit news, he shares information about a sign-on letter sent in response to Rep. Camp’s proposal to eliminate the historic tax credit, information about conservation easements from the FY 2015 budget proposal and the requirements about Louisiana’s historic tax credit program. In renewable energy tax credit news, he discusses the president’s suggestion to permanently renew the renewable energy production tax credit and eventually eliminate the investment tax credit, as well as a Utah bill that would extend the state’s renewable energy production tax credit to solar projects.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses House Ways and Means Committee Chairman Dave Camp’s release of a discussion draft of tax code reform proposals and a little about the fiscal year 2015 budget. In low-income housing tax credit news, he analyzes the calendar year 2014 population estimates, discusses the extension of the Physical Inspection Pilot program and alerts listeners to changes in Ohio’s policies for change of management or ownership of LIHTC properties. In new markets tax credit news, he alerts listeners to a change in the amount of allocation authority the Community Development Financial Institutions Fund will award this year. In historic tax credit news, he discusses a recent U.S. Tax Court case in which the court ruled that a state tax credit transaction was a disguised sale. In renewable energy tax credit news, he shares responses from the U.S. Department of the Treasury about the possibly of using investment or production tax credits to offset lower amounts of Section 1603 cash grant funding caused by sequestration and he discusses a recent report from the National Renewable Energy Laboratory about the effectiveness of statelevel solar development policies
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a memo from Ways and Means Committee Chairman Dave Camp about tax reform legislation that he plans to introduce this week. In low-income housing tax credit news, he shares an update about the Neighborhood Stabilization program, the latest about the Colorado low-income housing tax credit and a call for entries in Charles L. Edson Tax Credit Excellence Awards. In historic tax credit news, he alerts listeners to an upcoming Advisory Council on Historic Preservation meeting and changes to legislation that would create a Nebraska historic tax credit. In renewable energy tax credit news, he shares information about the Novogradac Renewable Energy Conference. In new markets tax credit news, he reminds listeners about a sign-on letter from the New Markets Tax Credit Coalition that requests an extension of the program and a request for comments on the NMTC program allocation application from the Community Development Financial Institutions Fund.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the latest periodic raising of the debt limit, the Congressional Budget Office’s Budget Outlook 2014-2024, Sen. Ron Wyden’s takeover of the Senate Finance Committee and tax reform. In low-income housing tax credit news, he alerts listeners to congressional efforts to reform Freddie Mac and Fannie Mae and an upcoming Novogradac & Company LIHTC compliance webinar. In new markets tax credit news, he encourages listeners to sign on to a letter from the NMTC Coalition that asks Congress to extend the new markets tax credit, and he shares information about a new co-sponsor for the New Markets Tax Credit Extension of 2013 (S. 1133) and a plan to double the Kentucky new markets tax credit. In renewable energy news, he discusses the introduction of the Renewable Energy Parity Act of 2014 (S. 2003). In historic tax credit news, he shares the results of a report about the use of state historic tax credits in Virginia.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the latest about the debt limit and the confirmation of Sen. Max Baucus as the next U.S. ambassador to China and what it might mean for tax reform. In new markets tax credit news, he shares news about legislation that would permanently extend the New Markets Tax Credit program, a report on the Community Development Financial Institutions Fund’s release of comments on its Community Investment Impact System and compliance reporting, and February’s Qualified Equity Investment Issuance Report. In our low-income housing tax credit news, he covers the passage of the Agriculture Act of 2014 and an additional co-sponsor of the Low-Income Housing Tax Credit Rate Act. In renewable energy tax credit news, he shares the results of a report from the Treasury Inspector General for Tax Administration about potential double dipping in the Section 1603 grant program and a report from the American Wind Energy Association about activity in the wind industry in the last quarter of 2013. On our historic tax credit news, has two state-level updates: one from Indiana and one from Kentucky.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses President Obama’s State of the Union address, the fiscal year 2015 budget and another call from lawmakers for tax extenders legislation. In low-income housing tax credit news, he shares a letter that 33 Democratic senators sent to Federal Housing Finance Agency Director Mel Watt asking Watt to begin contributing to the National Housing Trust Fund and the Capital Magnet Fund, as well as a proposed state low-income housing tax credit in Colorado. In historic tax credit news, he shares a report from an Oregon historic preservation advocacy group that shows the impact a state historic tax credit could have for cities and towns throughout the state. In renewable energy tax credit news, he discusses calls for production tax credit and investment tax credit extensions from the Advance Energy Economy and the Center for the New Energy Economy at Colorado State University, and a report from the Solar Foundation that cites the number of jobs created by the solar industry and how they could be affected by an end to the investment tax credit. In new markets tax credit news, he shares news about an additional sponsor for the Manufacturing Communities Investment Act, which would extend the new markets tax credit program through 2016 and released guidelines for Arkansas’s new markets tax credit program.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a letter from Treasury Secretary Jacob Lew that asks Congress to address the debt limit before Treasury once again has to use extraordinary measure to keep the country funded; reveal information about a one-month delay of the release of the President’s fiscal year 2015 budget and remind listeners about the 2014 State of the Union address; and share thoughts about extenders legislation. In low-income housing tax credit news, he alerts listeners to the release of a report from Enterprise Community Partners and the Urban Land Institute that examines the cost of building affordable housing and shares a request for comments about setting a baseline for renewable energy capacity at public housing units and multifamily housing portfolios from the U.S. Department of Housing and Urban Development. In historic tax credit news, he has information about more than $2.2 million in historic preservation grants that the National Park Service has awarded to American Indian tribes across the country. In renewable energy tax credit news, he provides information about Department of Energy webinars on tribal communities and renewable energy and energy efficiency in multifamily housing, shares information about Wisconsin legislation that extends the state’s renewable energy tax credit to older facilities and reveals that RECs will be used at this year’s Super Bowl. In new markets tax credit news, he recaps a keynote speech from the CDFI Fund’s Bob Ibanez.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the federal fiscal year 2014 budget, tax extenders and a request from nearly 30 congressional representatives to hold hearings on poverty in America. In low-income housing tax credit news, he alerts listeners to the release of Accounting Standards Update No. 2014-01, which contains the new guidelines for accounting for low-income housing tax credit investments, and discusses a letter to Sen. Max Baucus from the LIHTC Working Group that addresses his proposed tax reform measures. In historic tax credit news, he shares information about a new Section 106 toolkit from the Advisory Council on Historic Preservation and recaps a Cincinnati event that highlighted the use of Ohio’s state historic tax credits. In renewable energy tax credit news, he has an update on Oregon’s Business Energy Tax Credit program. In new markets tax credit news, he shares a request from the CDFI Fund for comments about the New Markets Tax Credit program application and information about two new state-level new markets tax credit program bills introduced in Indiana.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses an update on the federal fiscal year 2014 and 2015 budgets and the looming debt ceiling. In low-income housing tax credit news, he alerts listeners to a 2014 audit from the Treasury Inspector General for Tax Administration Office of Inspections and Evaluations on the Tax Credit Assistance program (TCAP). In historic tax credit news, he informs listeners about an update to Revenue Procedure 2014-12, the safe harbor guidance for historic tax credit partnerships, and he shares state level news from Alabama and a summary of a recent U.S. Tax Court decision about the transfer of state historic tax credits between partners. In new markets tax credit news, he shares information about a bill that would extend the New Markets Tax Credit program and provide additional allocation for communities affected by the loss of manufacturing jobs and discusses the retirement of long-time new markets tax credit supporter Rep. Jim Gerlach.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the fiscal year 2014 budget, a potential change in Senate Finance Committee leadership and a new report about the success of community development financing tools. In historic tax credit news, he discusses long-awaited safe harbor guidance from the Internal Revenue Service, as well as a prototype programmatic agreement from the Advisory Council on Historic Preservation, Rhode Island’s newest historic tax credit awardees and the Rural Heritage Conservation Act of 2013.In new markets tax credit news, he has information from the Community Development Financial Institutions Fund’s latest Qualified Equity Investment Issuance Report, a study about how new markets tax credits could be used to help end obesity and a bill that would qualify more census tracts for new markets tax credits. In low-income housing tax credit news, he shares information about income-qualified households from Low-Income Housing Credit Newsletter #54 and a report from the Corporation for Supportive Housing about allocation policies that promote supportive housing production. In renewable energy tax credit news, he discusses a proposal from Sen. Max Baucus that would consolidate all existing renewable energy tax credits into two tax credits.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with a recap of the latest from Capitol Hill about the fiscal year 2014 budget, tax reform and the Volcker Rule. In low-income housing tax credit news, he discusses the Financial Accounting Standards Board’s ratification of the generally accepted accounting principles changes for low-income housing tax credit investments, updates listeners on the U.S. Department of Housing and Urban Development 2014 rent and income limits and provides information about a Harvard University’s Joint Center of Housing Studies report on affordable housing. In new markets tax credit news, he shares a report from Rapoza Associates about projects completed by community development corporations and provides an update about the Community Development Financial Institutions Fund’s CDFI Information Mapping System upgrade. In historic tax credit news, he shares information about a recommendation to cap Maine’s historic tax credit program, an increase in Wisconsin’s historic tax credit and a U.S. Government Accountability Office report on decommissioned federal courthouses. In renewable energy tax credit news, he discusses a report from the Solar Energy Industries Association about residential solar installations.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, provides a recap of the latest discussions about the fiscal year 2014 budget, tax reform and the debt ceiling. In lowincome housing tax credit news, he shares information about a new program for increasing energy efficiency in multifamily housing and the Office of the Comptroller of the Currency’s release of its first 2014 Community Reinvestment Act examination schedule, as well as the potential release of the U.S. Department of Housing and Urban Development 2014 rent and income limits and the nomination of Mel Watt as director of the Federal Housing Finance Agency. In new markets tax credit news, he provides an update about the Community Development Financial Institutions Fund’s CDFI Information Mapping System upgrade and the latest Qualified Equity Investment Issuance report. In our historic tax credit news, he shares the results of a study of the use of the federal historic tax credit in Ohio. In renewable energy tax credit news, he discusses a report that predicts that the United States will be the third largest solar photovoltaic market in the world in 2014.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, shares information about the Nov. 13 Budget Conference Committee meeting. In new markets tax credit news, he has information about a series of Capacity Building Initiative workshops and an update on the New Markets Tax Credit Military Installation Act of 2013. In historic tax credit news, he shares the results of a study of public schools in Virginia that could benefit from a change to the prior use rule and the results of a review of New York’s tax credits. In low-income housing tax credit news, he discusses a report from Enterprise and the Urban Land Institute that studies the cost of affordable housing development and suggests ways to contain those costs. In renewable energy tax credit news, he discusses a report from the National Renewable Energy Laboratory about challenges master limited partnerships and real estate investment trusts face when financing renewable energy assets and a request for comments on Internal Revenue Service Form 8835.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses Sen. Max Baucus’s tax reform discussion drafts, including cost recovery periods and how they could affect the low-income housing tax credit, and JCX-17-13. In new markets tax credit news, I have a study from the Urban Institute on the effectiveness of the first four years of the New Markets Tax Credit program and the Nevada New Markets Tax Credit program. In historic tax credit news, he reports on efforts to expand the Indiana historic tax credit program. In low-income housing tax credit news, he discusses a National Low Income Housing Coalition report on homelessness among veterans and a comment letter that the LIHTC Working Group sent to the Internal Revenue Service about establishing utility allowances. In renewable energy tax credit news, he reports on the Bipartisan Policy Center’s call to phase-out the production tax credit
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the Financial Accounting Standards Board’s Emerging Issues Task Force’s decision to allow changes in how to account for tax credit investments, recently issued Community Reinvestment Act guidance and the latest information about tax reform. In low-income housing tax credit news, he details the release of the 2014 difficult development areas (DDAs) and a Congressional Budget Office proposal about the deficit reduction savings from the repeal of the low-income housing tax credit. In historic tax credit news, he has information about the latest Advisory Council on Historic Preservation meeting and legislation in Wisconsin that would double the state’s historic tax credit. In new markets tax credit news, he shares remarks from Comptroller of the Currency Thomas Curry about how the new markets tax credit can be used by banks to meet Community Reinvestment Act requirements. In renewable energy tax credit news, he alerts listeners to the opening of the nomination round for the first Novogradac Journal of Tax Credits Renewable Energy Power Awards
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the latest reports on tax reform and an upcoming budget conference committee hearing, as well as the Financial Accounting Standards Board Emerging Issues Task Force’s upcoming meeting about accounting for tax credit investments. In low-income housing tax credit news, he discusses the impending release of the 2014 qualified census tracts and difficult development areas, and a housing finance reform hearing. In historic tax credit news, he alerts listeners to Sen. Angus King of Maine’s support of the Rural Heritage Conservation Act. In renewable energy tax credit news, he discusses new solar project contract templates that could reduce costs for solar projects and a newsletter from the Office of the Comptroller of the Currency about public welfare investments in wind energy. In new markets tax credit news, he alerts listeners to the Community Financial Institutions Fund’s delay of its launch of the third version of the CDFI Information Mapping System.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the first meeting of the Budget Conference Committee, tax reform and a potential vote on the Volcker rule. In new markets tax credit news, he shares a letter from 70 Representatives that urges the permanent extension of the New Markets Tax Credit program, discusses legislation that would set-aside new markets tax credits for projects in areas affected by military base closures and discloses information about a request for comments about the Community Development Financial Institutions Fund Bond Guarantee program. In low-income housing tax credit news, he shares the calendar year 2014 low-income housing tax credit and private activity bond caps, as well as Sen. Mike Crapo’s support for legislation that would make the 9 percent floor permanent. In historic tax credit news, he discusses a report from Sen. Tom Coburn that addresses some of the costs of the historic tax credit program.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses tax credit reform. In new markets tax credit news, he shares information about the applications that the Community Development Financial Institutions Fund received for the 2013/2014 allocation round. In low-income housing tax credit news, he discusses Low-Income Housing Credit Newsletter #53, a favorable property tax court ruling in Mississippi and the possible extension of California’s readiness deadline. In renewable energy tax credit news, he discusses a report from the Interstate Renewable Energy Council about trends in renewable energy and a letter from the Western Governors’ Association requesting a change to the production tax credit. In historic tax credit news, he has an update on the Internal Revenue Service’s safe harbor guidance for historic tax credit transactions.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses tax credit reform, the end of the government shutdown and the raising of the debt ceiling, and Basel III minimum capital requirements. In new markets tax credit news, he discusses an upgrade to the Community Development Financial Institutions Fund’s Information Mapping System and a request from the CDFI Fund for 2013/2014 new markets tax credit application reviewers. In lowincome housing tax credit news, he shares information about a California law that allows developers of special needs housing to get state tax credits. In renewable energy tax credit news, he discusses a report from the Solar Energy Industry Association about commercial solar installations. In historic tax credit news, he discusses a report about building reuse in Los Angeles and legislation in Wisconsin that would double the state’s historic tax credit percentage.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the federal government shutdown and the looming debt ceiling. In new markets tax credit news, he shares the latest qualified equity investment issuance report. In low-income housing tax credit news, he discusses a hearing about the future of Fannie Mae and Freddie Mac and multifamily housing development and shares a letter that the New York State Association of Affordable Housing is sending to Sen. Chuck Schumer urging him to introduce a Hurricane Sandy relief bill. In renewable energy tax credit news, he discusses a report from the Interstate Renewable Energy Council about the photovoltaic system approval process and changes to the Louisiana Solar Electric System Income Tax Credit program. In historic tax credit news, he shares the results of Alabama’s historic tax credit review lottery.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the federal government shutdown and the looming debt ceiling. In new markets tax credit news, he shares the first round of allocatees and issuers under the Community Development Financial Institutions Fund Bond Guarantee program and the opening of Nevada’s first new markets tax credit allocation round. In low-income housing tax credit news, he alerts listeners to the U.S. Department of Housing and Urban Development’s release of the final fiscal year 2014 fair market rents and the Internal Revenue Service’s suspension of program occupancy requirements in areas affected by severe storms in Colorado. In renewable energy news, he discusses a recent House Oversight and Government Reform Subcommittee hearing on energy policy and the fate of the production tax credit. In historic tax credit news, he shares a petition requesting the end of the government shutdown that the National Trust for Historic Preservation is sending to Congress.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the federal government shutdown and its effects on tax credit programs and the U.S. Department of Housing and Urban Development programs. In renewable energy news, he shares new guidance from the Internal Revenue Service on “begin-construction” requirements for the production tax credit and a recent transaction spurred by the credit’s extension; he also alerts listeners to an upcoming hearing about the credit. In low-income housing tax credit news, he covers a federal subsidy that the Federal Housing Administration will be taking and the fiscal year 2014 mortgage insurance premiums. In new markets tax credit news, he alerts listeners to a new program extension support letter that is being circulated in the House of Representatives. In historic tax credit news, he shares the findings of a study on the use of historic tax credits in predominantly African-American neighborhoods and the opening of the Alabama historic tax credit program’s first application round.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, updates listeners on the fiscal year 2014 budget and the approaching debt ceiling, and the Volcker Rule. In lowincome housing tax credit news, he discusses proposed regulations from the Internal Revenue Service and an upcoming hearing about tax-exempt bond arbitrage rebate regulations, as well as two Senators’ visit to tribal lands in Montana. In renewable energy tax credit news, he shares recent guidance from the Office of the Comptroller of the Currency about public welfare investments in wind energy projects. In new markets tax credit news, he discloses the record number of signatories to a letter that the New Markets Tax Credit Coalition has sent to Congress in support of the program. In historic tax credit news, he reveals that the Advisory Council on Historic Preservation has released a Section 106 toolkit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, shares news about legislation and continuing resolutions that could provide funding for fiscal year 2014 and changes to the rural housing determinations that could affect rural properties. In low-income housing tax credit news, he discusses the Financial Accounting Standards Board’s Emerging Issues Task Force’s debate about accounting for the low-income housing tax credit. In renewable energy tax credit news, he covers the possibility of additional IRS guidance on the production tax credit, as well as a recent report that shows that wind farms do not impact house values. In historic tax credit news, he discusses a fiscal year 2013 report from Missouri about the use of state historic tax credits and low-income housing tax credits. In new markets tax credit news, he alerts listeners to the opening of Nebraska’s new markets tax credit program’s allocation round.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, updates Congress’s return to session and the issues that they are facing in the next few weeks. In low-income housing tax credit news, he discusses discuss the Financial Accounting Standards Board’s Emerging Issues Task Force’s meeting this week to make a final ruling on amendments affecting the low-income housing tax credit, and the U.S. Department of Housing and Urban Development’s decision to eliminate audits for small multifamily developments. In historic tax credit news, he shares information about Virginia Gov. Bob McDonnell’s campaign to change the historic tax credit so that it can be used for school modernization projects, as well as a reminder about next week’s fast-approaching Historic Tax Credit Conference in Detroit. In new markets tax credit news, he alert listeners to the latest Qualified Equity Investment Report from the CDFI Fund and some key dates for the 2013/2014 NMTC application round.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, informs listeners about the next stop on Senate Finance Committee Chairman Max Baucus and House Ways and Means Chairman Dave Camp’s tax reform tour and about Treasury Secretary Jacob Lew’s request that Congress raise the debt ceiling. In low-income housing tax credit news, he discusses the U.S. Department of Housing and Urban Development’s changes to Handbook 4350.3, as well as the Internal Revenue Service’s LIHC Newsletter #52 and request for comments about the LIHTC program’s utility allowances and carryover agreements. In new markets tax credit news, he alerts listeners to a new NMTC Insights report on the investment potential of new markets tax credits and a request for comments on how the CDFI Fund collects information on projects. In historic tax credit news, he has a state level update from Rhode Island, which has awarded its first historic tax credits since 2008. In renewable energy tax credit news, he shares information about a new federal financing program resource guide from the Department of Energy.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, shares comments that Senate Finance Committee Chairman Max Baucus last week made about the new markets tax credit and tax reform. In low-income housing tax credit news, he discusses the U.S. Department of Housing and Urban Development’s Hurricane Sandy Rebuilding Strategy. In historic tax credit news, he has a state-level update from Kentucky about the use of the state and federal historic tax credits and alerts listeners to a recently announced National Park Service workshop taking place in Detroit next month. In new markets tax credit news, he tells listeners about an updated 2013/2014 NMTC application question and answer document from the Community Development Financial Institutions Fund. In renewable energy tax credit news, he shares the contents of a letter from more than 60 Representatives and several industry organizations requesting tax credit certainty.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, shares with listeners updates to the Treasury Department’s 2013-2014 priority guidance plan. In low-income housing tax credit news, he discusses new Hurricane Irene and Tropical Storm Lee relief legislation, a report about the use of low-income housing tax credits in rural areas and an Internal Revenue Service phone forum on tax-exempt bonds and post-issuance compliance. In new markets tax credit news, he alerts listeners to some of the resources that Novogradac & Company offers to increase the effectiveness of 2013/2014 NMTC applications. In historic tax credit news, he shares a state level update from Massachusetts about the use of the state’s historic rehabilitation tax credit in 2012. In renewable energy tax credit news, he discusses energy tax credit legislation that was recently introduced in the House.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, updates listeners about three new tax reform letters from Senators and on congressional activities. In low-income housing tax credit news, he analyzes the proposed fiscal year 2014 Fair Market Rents and alerts listeners to a lack of funding for the Section 521 Rental Assistance program. In new markets tax credit news, he reminds listeners of upcoming 2013/2014 allocation round deadlines and the release of the electronic application, as well as discusses the latest qualified equity investment issuance report, including a recent change to the information included in the monthly report. In historic tax credit news, he discusses legislation to incentivize installing elevators and sprinklers in historic buildings, provides state level updates from North and South Carolina, and informs listeners about a National Park Service video about the historic tax credit program. In renewable energy tax credit news, he reveals the results of an American Wind Energy Association report on wind energy production and a U.S. Department of Energy and Lawrence Berkeley National Laboratory report on wind technologies, as well as shares views on the principles of energy tax reform that experts provided during a Senate Finance Committee hearing.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses lawmakers’ responses to Sens. Max Baucus and Orrin Hatch’s request for tax reform proposals, a Treasury Inspector General for Tax Administration audit of the potential for improper or fraudulent bond tax credit claims and upcoming legislative deadlines. In low-income housing tax credit news, he alerts listeners to legislation introduced to make permanent a fixed floor for the 9 percent and 4 percent tax credits and to increase LIHTC allocations to tribal areas, as well as the U.S. Department of Housing and Urban Development’s release of its proposed fiscal year 2014 fair market rents. In historic tax credit news, he reveals the results of the National Park Service and Rutgers University’s 2012 report on the use of HTCs and Vermont’s award of its 2014 Downtown Historic Tax Credits. In new markets tax credit news, he encourages listeners to sign on to the New Markets Tax Credit Coalition’s advocacy letter to support the NMTC program, to participate in a user survey on the Community Development Financial Institutions Fund website and to submit the paperwork necessary to participate in the 2013 and 2014 allocation rounds. In renewable energy tax credit news, he shares the Interstate Renewable Energy Council’s sixth annual report on solar installation trends.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, updates listeners about House Ways and Means Committee Chairman Dave Camp and Senate Finance Committee Chairman Max Baucus’s tax reform tour and 18 Senators’ responses to the call for proposals, as well as industry groups’ responses to those proposals. In new markets tax credit news, he alerts listeners to the opening of the 2013 and 2014 allocation rounds. In historic tax credit news, he discusses a conservation easement case and legislation introduced to make the conservation easement incentive permanent, and he announces the reinstatement of Rhode Island’s historic preservation tax credit. In low-income housing tax credit news, he discusses the U.S. Department of Housing and Urban Development’s first major change to the HOME program since 1996. In renewable energy tax credit news, he alerts listeners to a Senate committee hearing on principles for energy tax reform, an update on renewable energy generation as compared to conventional energy sources and a report on the leading states for solar energy production.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, provides updates on tax reform and the debt ceiling. In new markets tax credit news, he reminds listeners that the 11th round of new markets tax credit allocations is expected to open soon. In renewable energy tax credit news, he alerts listeners to the House version of the Biomass Thermal Utilization Act of 2013. In low-income housing tax credit news, he discusses Democrats housing finance reform principles and new U.S. Department of Housing and Urban Development fair housing rules. In historic tax credits, he recaps use of the Missouri state historic tax credit in fiscal year 2013 and calendar year 2012
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, encourages listeners to sign on to organizational support letters for the low-income housing tax credit and new markets tax credit. In low-income housing tax credit news, he alerts listeners to a survey on the LIHTC program that the Community Development Department at the Federal Reserve Bank of St. Louis is conducting and to the Federal Housing Administration’s recently announced priorities for its remaining fiscal year 2013 multifamily commitment authority. In new markets tax credit news, he shares the recipients of the fourth round of the state’s new markets tax credits and he encourages the public to provide input to the NMTC Working Group. In historic tax credit news, he reports additional support for The Rural Heritage Conservation Act of 2013 (S. 526) and he reminds listeners to nominate projects for the Journal of Tax Credits Historic Rehabilitation Awards.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the kickoff of House Ways and Means Committee Chairman Dave Camp and Senate Finance Committee Chairman Max Baucus’s tax reform tour and the soon-to-be-implemented Basel III regulations. In new markets tax credit news, he shares recently released data from the Community Development Financial Institutions Fund about NMTC projects through 2011 and an update on the NMTC market and credit pricing. In historic tax credit news, he alerts listeners to an upcoming meeting of the Advisory Council on Historic Preservation and to an increase in areas eligible for the New York historic tax credit. In low-income housing tax credit news, he tells listeners about a Novogradac and Company Year 15 webinar and a new bridge and construction loan program for multifamily properties in Kentucky. In renewable energy tax credit news, he discusses the recently introduced Qualifying Renewable Chemical Production Tax Credit Act of 2013 (S. 1267) and an American Council on Renewable Energy study on strategies to scale-up renewable energy investment.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses proposed “blank slate” tax reform and the upcoming dates for Congress. In renewable energy tax credit news, he covers the Prioritizing Energy Efficient Renewables (PEER) Act, which would permanently extend the production tax credit, and the Solar Uniting Neighborhoods (SUN) Act, which would make solar systems installed off-site eligible for the residential renewable energy tax credit. In historic tax credit news, he alerts listeners to upcoming National Park Service’s Technical Preservation Services educational webinars and the potential reinstatement of Rhode Island’s historic tax credit. In low-income housing tax credit news, he discusses an annual housing report from the Harvard Joint Center for Housing Studies and what’s next for the farm bill in the House. In new markets tax credit news, he alerts listeners to CDFI Bond Guarantee Program update, including new information sessions and legal documents.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses building momentum for tax reform and what may need to happen for tax reform to be successful this year. In historic tax credit news, he alerts listeners to the reintroduction of the Creating American Prosperity Through Preservation Act, or CAPP Act, as well as an update on promised guidance from the Internal Revenue Service on safe harbor for HTC transactions. In low-income housing tax credit news, he explores a final rule that the U.S. Department of Housing and Urban Development has issued on the Section 202 and Section 811 programs and how that affects LIHTC properties. In new markets tax credit news, he alerts listeners to a conference recording of the Novogradac Spring New Markets Tax Credit Conference, this month’s Qualified Equity Investment Issuance Report and a correction from Treasury about the master servicer/trustee application for the CDFI Bond Guarantee Program.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the comment letters submitted in response to the Financial Accounting Standards Board’s exposure draft of the proposed accounting standards update regarding affordable housing investments. In new markets tax credit news, he alerts listeners to a bill to make the new markets tax credit permanent and to the launch of the CDFI Bond Guarantee program. In historic tax credit news, he discusses an extension of Louisiana’s historic tax credit and reminds listeners that there is still time to nominate projects for the Novogradac Journal of Tax Credits Historic Rehabilitation Awards. In low-income housing tax credit news, he invites listeners to Novogradac’s first Nonprofit Developers Conference and updates them on the fiscal year 2014 farm bill, which includes a rural status provision. In renewable energy tax credit news, he talks about the Solar Energy Industries Association’s Q1 2013 report on solar energy installed and a Nebraska sales tax exemption for the purchase of wind turbines, towers and other wind farm components.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the start of the fiscal year 2015 budget process and two Congressional hearings: a House Financial Services Committee hearing on alternative housing finance models and a Ways and Means Committee hearing on tax reform. In new markets tax credit news, he alerts listeners to the end of the census tract transition period and the New Markets Tax Credit Coalition’s 2013 NMTC Progress Report. In renewable energy tax credit news, he tells listeners about the National Renewable Energy Laboratory 2012 Utility Green Power Leaders. In historic tax credit news, he reminds listeners that there is still time to nominate developments for the Novogradac Journal of Tax Credits Historic Rehabilitation Awards. In low-income housing tax credit news, he reports on the National Association of Home Builders annual legislative conference at which more than 750 builders urged Congress to support policies that sustain the housing recovery and increase the availability of affordable housing.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, in new markets tax credit news, discusses non-real estate investment guidance from the Internal Revenue Service and encourages people to send their comments on the new markets tax credit to TaxReform.gov. In historic tax credit news, he explains a bill introduced to expand and increase the historic tax credit and a Texas historic tax credit bill that has been sent to the governor, as well as a report on the benefit of the historic tax credit in Montana. In low-income tax credit news, he alerts listeners to the IRS’s suspension of certain requirements in Oklahoma and to a new tool to evaluate syndicators. In renewable energy tax credit news, he covers the recently introduced Storage Technology for Renewable and Green Energy Act, which would create a 30 percent tax credit for technologies that store energy from renewable sources for use during offpeak hours.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a bipartisan bill for Hurricane Sandy tax relief. In historic tax credit news, he updates listeners to the Supreme Court’s recent decision on the Historic Boardwalk Hall case and on state-level tax credits from Louisiana, Minnesota and Missouri, as well as alerts listeners to a letter from members of urging the Internal Revenue Service to issue guidance on historic tax credit partnerships and. In new markets tax credit news, he tells listeners about the Louisiana New Markets Job Act. In low-income housing tax credit news, he reminds listeners of the Financial Accounting Standards Board Emerging Issues Task Force’s upcoming deadline for comments on proposed accounting changes for the low-income housing tax credit and alerts them to a Massachusetts housing bond bill that is advancing through the state house. In renewable energy tax credit news, he discusses a report from the Solar Energy Industries Association on the Department of Defense’s solar energy development.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses doubts raised about tax reform in the wake of recent scandals at the Internal Revenue Service, a Senate Finance Committee paper that details tax reform options and a House Ways and Means Committee hearing on small business tax reform. In historic tax credit news, he tells listeners about a National Park Service report commemorating the 35th anniversary of the historic tax credit program, the recently enacted Alabama historic tax credit program and the possible reestablishment of the Rhode Island historic tax credit. In low-income housing tax credits, he reports on a Center for Housing Policy report that found that the low-income housing tax credit promotes the interests and wellbeing of children. In new markets tax credit news, he discusses Louisiana state tax credits that avoided the chopping block.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, announces the Senate Finance Committee, House Ways and Means Committee and Joint Committee on Taxation’s launch of TaxReform.gov, a new website dedicated to obtaining public input about tax reform, and announces a Ways and Means Select Revenue Measures Subcommittee hearing about the small business and pass-through entity tax reform discussion draft, as well as a few other congressional committee meetings, and a reminder about the debt ceiling. In new markets tax credit news, he reports on the potential introduction of legislation to make the new markets tax credit permanent and describes a Texas bill to create a new markets tax credit program in that state. In historic tax credit news, he relays Rep. Niki Tsongas’s call for guidance on the historic tax credit program, and alerts listeners to bills that would affect state-level programs in Missouri and Iowa. In low-income housing tax credit news, he alerts listeners to Novogradac and Company’s “Affordable Rental Housing After Tax Reform: Calculating Corporate Tax Reform's Possible Effects on Equity Raised from Low-Income Housing Tax Credits” report and a call from the National Housing Conference and the Center for Housing Policy to temporarily increase low-income housing tax credits for supportive veterans housing. In renewable energy tax credit news, he reports on a Nebraska bill that would enable renewable energy sources to qualify for the Nebraska Advantage Act.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a recent Joint Committee on Taxation Report and its implications for tax credit programs. In new markets tax credit news, he discusses the 2012 allocation agreement template and the latest qualified equity investment issuance report. In historic tax credit news, he alerts listeners to upcoming safe harbor guidance from the Internal Revenue Service. In low-income housing tax credit news, he covers the National Housing Council’s Center for Housing Policy’s 2013 Housing Landscape report and the search for a new executive director of the Texas Affiliation of Affordable Housing Providers. In renewable energy tax credit news, he discusses the U.S. Department of the Treasury’s annual report on the Section 1603 program.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses tax reform, the retirement of Senate Finance Committee Chairman Max Baucus and residential real estate. In new markets tax credit news, he announces the results of the 2012 allocation round. In lowincome housing tax credit news, he discusses a recent House Ways and Means Committee on tax reform and residential real estate. In renewable energy tax credit news, he alerts listeners to additional binding written contract guidance from the Internal Revenue Service and the reintroduction of the Master Limited Partnerships Parity Act. In historic tax credit news, he provides an update on the Historic Boardwalk Hall case and information from the National Park Service’s Federal Tax Incentives for Rehabilitating Historic Buildings Annual Report for Fiscal Year 2012.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a letter that representatives have sent House Speaker John Boehner a letter urging Hurricane Sandy relief, as well as an updated Simpson-Bowles deficit plan and a Ways and Means Committee hearing on residential real estate and tax reform. In renewable energy tax credit news, he alerts listeners to long-awaited Internal Revenue Service guidance on when projects have “begun construction” for investment tax credit and production tax credit purposes, and alerts listeners to the reintroduction of the Security in Energy and Manufacturing Act (SEAM) Act and the Make It in America: Create Clean Energy Manufacturing Jobs in America Act. In low-income housing tax credit (LIHTC) news, he discusses the Financial Accounting Standards Board Emerging Issues Task Force proposed changes to LIHTC-related GAAP rules and Standard & Poor’s proposed changes to how it rates multifamily housing bonds. In new markets tax credit news, he discusses the Senate approval of a bill reauthorizing the Missouri NMTC program. In historic tax credit (HTC) news, he discusses a Wisconsin bill that would quadruple the amount of HTCs to qualified projects.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses provisions related to the low-income housing tax credits, new markets tax credits and renewable energy tax credit in President Obama’s proposed fiscal year 2014 budget. In other low-income housing tax credit news, he discusses a new qualified allocation plan for the Northern Mariana Islands. In other new markets tax credit news, he discusses guidance from the Community Development Financial Institutions Fund on reporting project information for projects involving multiple community development entities. In historic tax credit news, he discusses a proposed change to conservation easement rules that was included in the President’s budget proposal and the progress of a state historic tax credit bill in Indiana.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the upcoming release of the president’s fiscal year 2014 budget, several congressional committee hearings and the postponement of a U.S. Department of Housing and Urban Development meeting. In low-income housing tax credit news, he analyzes the FY2013 tax credit allocations and a National Council of State Housing Agencies report on LIHTC Utilization, as well as alerts listeners to an impending audit of Missouri’s LIHTC program. In historic tax credit news, he shares the latest developments about an Alabama state HTC program. In new markets tax credit news, he reveals the Community Development Financial Institutions Fund’s latest qualified equity investment issuance report. In renewable energy tax credit news, he alerts listeners to the recently issued section 45 reference rates
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, reminds listeners about President Obama’s soon-to-be-released fiscal year 2014 budget and upcoming congressional hearings and alerts listeners to a potential change in the business interest deduction and an upcoming U.S. Department of Housing and Urban Development oversight hearing. In low-income hosing tax credit news, he discusses Novogradac & Company’s new analysis of the effect of tax reform on the LIHTC and provides some preliminary analysis about the 2013 population figures released last week. In historic tax credit news, he covers the latest in the Historic Boardwalk Hall case and an extension of the New York HTC program. In new markets tax credit news, he discusses bills in California and Arkansas that would create statelevel NMTC programs. Finally, in renewable energy tax credit news, he discusses a recent audit of the advanced energy manufacturing tax credit and a rulemaking hearing for Oregon’s business energy tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, alerts listeners to the passage of a six-month continuing resolution for fiscal year 2013, proposed changes in Community Reinvestment Act credit for investments and a request for comment from the Internal Revenue Service on its 2013-2014 Guidance Priority List. In new markets tax credit news, he reminds listeners of the upcoming NMTC allocation and the Novogradac Spring New Markets Tax Credit Conference. In historic tax credit news, the National Park Service has released eight actions to improve and expand the HTC program. In low-income housing tax credit news, he tells listeners about a grandfathering of rural areas that allows those areas to access U.S. Department of Agriculture funding. In renewable energy tax credit news, he alerts listeners to several proposals to repeal energy tax incentives.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a document from Rep. Dave Camp aimed at reforming the tax code for small businesses and an announcement from Rep. Pat Tiberi that the Select Revenue Measures subcommittee would hold a meeting on financial products tax reform, as well as several upcoming hearings and key dates. In historic tax credit news, he discusses a bill that would make permanent enhanced tax incentives for conservation easements, a report from the Office of the Chief Financial Officer of the District of Columbia that analyzes how state historic tax credits affect the leveraging of resources through the federal HTC and the Ohio Historic Preservation Tax Credit program’s 10th application round. In low-income housing tax credit news, he alerts listeners to a request for comments from the Financial Accounting Standards Board Emerging Issues Task Force about limited partnerships and a document from the American Bar Association’s Section on Taxation that offers suggestions for simplifying the tax code for real estate.
Fiscal Year 2014 Budget; Tax Expenditures; CCA20124002F; Alabama Historic Tax Credit (H.B. 140); California Fiscal Year 2013 Income Limits; Production Tax Credit Rules; Qualified Equity Issuance Report
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the effect of the sequester, potential tax reform and public welfare investments. In historic tax credit news, he alerts readers to the reintroduction of a bill that would extend historic tax credits to homeowners and the introduction of a bill in Georgia that would expand that state’s historic tax credit program. In low-income housing tax credit news, he discusses a report that calls for more balance in choosing locations for LIHTC developments. In renewable energy tax credit news, he discusses a report from the Bipartisan Policy Center that recommends extending the production tax credit and then phasing it out the by the end of 2016. In new markets tax credit news, he reviews highlights from the CDFI Fund’s first “Year-in-Review” and a bill to extend the Missouri NMTC program.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the impending sequestration and an amended Simpson-Bowles fiscal plan. In historic tax credit news, he alerts listeners to a Missouri bill that would limit the state’s historic tax credits and an upcoming Advisory Council on Historic Preservation Meeting. In low-income housing tax credit news, he discusses a report form the Bipartisan Policy Center’s Housing Commission that recommends expanding the Low-Income Housing Tax Credit program, a special LIHTC allocation round in Mississippi intended to increase housing near health care facilities, and the Federal Housing Administration’s easing of mortgage approvals for multifamily rental properties. In renewable energy tax credit news, he discusses President Obama’s call to make the production tax credit permanent and refundable, as well as the Sustainable Energy Act, a bill recently introduced that would extend the PTC for an additional seven years and allow it to be exchanged for investment tax credits. In new markets tax credit news, he alerts listeners to a bill that would create a state NMTC for Indiana.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the State of the Union address and response, as well as several legislative committees formed to address tax reform and key deadlines that are approaching. In historic tax credit news, he alerts listeners to propped changes to the Indiana state HTC. In low-income housing tax credit news, he discusses a letter that the LIHTC Working Group about the potential loss of rural designations, the National Council of Housing Market Analysts’ Model Content Standards for Rental Housing Market Studies and its market study index, and a call for nominations for the Charles L. Edson Tax Credit Excellence Awards. In new markets tax credit news, he discusses the CDFI Bond Guarantee program. In renewable energy tax credit news, he discusses two new bills: the Public Land Renewable Energy Development Act and a soon-to-be-introduced offshore wind energy tax credit bill.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses tax expenditures, sequestration, tax reform and charitable contributions, a Congressional Budget Office economic outlook for 2013 though 2023, smart growth and sustainable communities, the nomination of Jack Lew for Treasury Secretary and the president’s State of the Union address. In historic tax credit news, he reports on the president’s nomination of Sally Jewell for Secretary of the Interior and a Missouri Senate Appropriation Committee hearing on state tax credit programs. In low-income housing tax credit news, he discusses IRS Notice 2013-9 and Hurricane Sandy, the Treasury’s Priority Guidance Plan, and a Mississippi bill that would reduce taxes for affordable housing properties. In new markets tax credit news, he alerts listeners to CDFI Fund listening sessions, recertification guidelines for CDFIs, qualified equity investment issuance for January and an upcoming CDFI Fund Advisory Board meeting. In renewable energy tax credit news, he discusses phase two of the Section 48C Advance Energy Manufacturing Tax Credit program and two solar tax credit bills in Hawaii.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, opens with an Office of Management and Budget sequestration memo, post-fiscal cliff financial analysis and tax loopholes that could be closed. In historic tax credit news, he discusses Secretary of the Interior Ken Salazar’s request that the National Park Service review the HTC program rules and Rhode Island’s historic tax credit program. In low-income housing tax credit news, he discusses a meeting between Sen. Max Baucus and the Housing Advisory Group. In new markets tax credit news, he discusses an interim rule for the CDFI Fund Bond Guarantee programs and a report on CDFIs’ response to Superstorm Sandy. In renewable energy tax credit news, he alerts listeners to a call for guidance on the production tax credit eligibility and an American Wind Energy Association report on electric generating capacity.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, opens with news about the debt ceiling, upcoming fiscal deadlines and tax reform. In historic tax credit news, he discusses proposed changes to New York’s Historic Commercial Properties Rehabilitation tax credit program and the latest development in the Historic Boardwalk Hall Case. In low-income housing tax credit news, he discusses the U.S. Department of Housing and Urban Development’s Energy and Performance Information Center and the Iowa Finance Authority’s housing priorities. In new markets tax credit news, he alerts listeners to a request for comments about Alaska’s New Markets Tax Credit Assistance Guarantee and Loan Program. In renewable energy tax credit news, he discusses a request for comments on the Section 1603 program and a Blue Planet Foundation report on Hawaii’s solar energy tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, opens with a mention of President Barack Obama’s inauguration and upcoming fiscal deadlines, as well as an announcement about hearings on the debt limit. In historic tax credit news, he discusses a state historic tax credit bill that has been introduced in Nebraska and a Government Accountability Office report on the need for improved data about federally owned historic properties. In lowincome housing tax credit news, Mr. Novogradac discusses an accounting change being proposed by the Federal Accounting Standards Board’s Emerging Industry Task Force and an update to Novogradac’s LIHTC Mapping Tool. In renewable energy tax credit news, he alerts listeners to a new version of the Energy Freedom and Economic Prosperity Act proposed last week that would eliminate energy tax credits. In new markets tax credit news, he alerts listeners about this week’s Novogradac New Markets Tax Credit Conference
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses two reports on tax expenditures, one from the Government Accountability Office and one from the National Taxpayer Advocate, and the Treasury Secretary Timothy Geithner’s resignation and President Obama’s nomination of Jack Lew. In new markets tax credit news, he invites listeners to the Novogradac New Markets Tax Credit Conference. In historic tax credit news, he alerts listeners to the National Trust for Historic Preservation’s call for nominations for its 2013 list of the Most Endangered Historic Places. In low-income housing tax credit news, he discusses the U.S. Department of Housing and Urban Development’s HOME and the Low-Income Housing Tax Credit Guidebook. In renewable energy news, he discusses a Journal of Tax Credits article about attracting investors to renewable energy projects.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the American Taxpayer Relief Act of 2012 (H.R. 8), as well as the issues not yet addressed by the 113th Congress. In new markets tax credit news, he shares the Community Development Financial Institutions Fund’s announcement that it will announce 2012 allocations in April and the monthly Qualified Equity Investment Issuance Report. In historic tax credit news, he alerts listeners to a frequently asked question document that the National Park Service has released about application fee changes. In low-income housing tax credit news, he shares a legislative victory in Ohio for LIHTC property owners and California’s 2013 and 2014 operating expense minimums. Finally, in renewable energy tax credit news, he alerts listeners to a change to the production tax credit.
In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the fiscal cliff, Superstorm Sandy and the National Disaster Tax Relief Act of 2012, and House and Senate finance committee changes. In low-income housing tax credit news, he analyzes the fiscal year 2013 income limits and a negative private letter ruling from the IRS. In renewable energy tax credit news, he alerts listeners to additional support for the production tax credit extension from wildlife advocates and the U.S. Department of Energy, and reveals the details of two reports, one on the solar energy market and one about Cincinnati’s solar potential. In historic tax credit news, he talks about federal agencies collaborating to protect sacred tribal sites, the latest recommendations from the Missouri Tax Credit Review Commission and Gov. Cuomo’s veto of a New York historic tax credit expansion. In new markets tax credit news, he reveals the results of the first-ever economic impact report from the New Markets Tax Credit Coalition.
In today’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, updates listeners about progress on the fiscal cliff, including the Bland Bargain and Domenici-Rivlin plan; a report from the Congressional Budget Office report on the taxation of pass-through entities; and upcoming congressional hearings. In low-income housing tax credit news, he discusses the U.S. Department of Housing and Urban Development’s release and correction of the fiscal year 2013 income limits and a Government Accountability Office study of Housing and Economic Recovery Act-related changes to the LIHTC program. In renewable energy tax credit news, he discusses an Internal Revenue Service private letter ruling that affects the treatment of power purchase agreements and new regulations on tribal land surface leases. In historic tax credit news, he updates listeners about a New York state historic tax credit bill that has been sent to the governor. Finally, in new markets tax credit news, he covers a qualified equity issuance report and an Ohio NMTC bill moving through the legislature.
In today’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, updates listeners on the fiscal cliff. In historic tax credit news, he covers a National Park Service Fee change for historic tax credit projects, a deadline extension for the Missouri Tax Credit Review Commission and the formation of an Iowa state HTC stakeholder group. In low-income housing tax credit news, he covers U.S. Department of Housing and Urban Development’s utility allowance and smoke-free building policies. In renewable energy tax credit news, he updates listeners about additional support for the extension of the production tax credit. Finally, he wraps up with new markets tax credits news about a Community Development Financial Institutions Fund report on native communities’ access to capital and credit.
Michael J. Novogradac, CPA, shares the investment tax credit news of the week. In general news, Mr. Novogradac discusses Congress’s return and how the fiscal cliff might affect the 2013 tax season. In historic tax credit news, he alerts listeners to Sen. Charles Schumer’s support of the Creating American Prosperity Through Preservation Act and the 50th anniversary of the National Historic Preservation Act. In new markets tax credit news, he alerts listeners to Sen. Schumer’s and charter school officials’ support of a NMTC program extension. In low-income housing tax credit news, he shares the latest for the Small Area FMR Demonstration program and a canceled utility submetering hearing. In renewable energy news, he shares two reports: one on jobs and one on states’ renewable energy projects and programs.
Michael J. Novogradac, CPA, discusses the negotiations surrounding the fiscal cliff, prospects for a Superstorm Sandy federal recovery bill, a recent hearing and guidance on proposed regulatory capital rulemakings under Basel III and the FHA’s annual financial status report in general tax credit news. The historic tax credit news segment features an announcement of historic preservation training opportunities through the Advisory Council on Historic Preservation and news from Alabama on the possible creation of a state-level historic tax credit program. Low-income housing tax credit news includes a discussion of the Federal Housing Finance Agency’s multifamily affordable housing goals for Fannie Mae and Freddie Mac, as well as the New York Department of Homes and Community Renewal’s decision to extend its funding application deadline after Hurricane Sandy. In renewable energy tax credit news, he discusses the Governors’ Wind Energy Coalition’s efforts to extend the wind PTC and provides state renewable energy program updates from Hawaii and Pennsylvania. Mr. Novogradac wraps up the podcast with new markets tax credit news about a sign-on letter urging Congress to extend the NMTC and informs listeners of the CDFI Fund’s attempt to evaluate Hurricane Sandy’s effects on CDFIs and CDEs.
Michael J. Novogradac, CPA, discusses the latest tax credit news. In general news, he discusses the election results and potential changes to congressional committees as well as recent comments from lawmakers about the fiscal cliff. In low-income housing tax credit news, he alerts listeners to the Internal Revenue Service’s waiver of income requirements for families displaced by Hurricane Sandy and a comment deadline for Form 8611, as well as MaineHousing’s new smoke-free policy. In historic tax credit news, he touches on the way states are assessing Hurricane Sandy’s damage to historic properties. In new markets tax credit news, he discusses a proposal for a Gulf Opportunity Zone-like tax credit for Hurricane Sandy affected areas and alerts listeners to the availability of Novogradac and Company’s recording of its NMTC Conference in New Orleans last month. Finally, his renewable energy tax credit segment features renewable energy organizations’ response to the election.
Michael J. Novogradac, CPA, discusses the latest tax credit news in the Nov. 6, 2012 Tax Credit Tuesday podcast. In general news, he recaps the seats up for grabs in Congress and across the nation, and alerts listeners to the potential for GO Zone-like legislation for Hurricane Sandy-affected areas, an extension of New York’s brownfield tax credit and Novogradac & Company’s new St. Louis, Mo. office. In new markets tax credit news, he talks about the extension of the qualified equity investment issuance deadline for allocattees affected by Hurricane Sandy and the latest QEI Issuance report. In low-income housing tax credit news, he reminds property owners of a cost of living increase for Social Security recipients that will affect calculation of household income. In historic tax credit news, he informs listeners about a conversation during which an IRS official said that the Historic Boardwalk Hall decision was not intended to challenge historic tax credits and alerts listeners to an upcoming Advisory Council on Historic Preservation meeting. In renewable energy tax credit news, he wraps up with the state of tax credit equity market and a report on state support of renewable energy projects.
Michael J. Novogradac, CPA, discusses the latest tax credit news in the Oct. 30, 2012 Tax Credit Tuesday podcast. In general tax credit news, he discusses a new pamphlet about jobs and taxes from President Obama’s re-election campaign and a call to strengthen bank’s capital standards. In new markets tax credit news, he reminds listeners of the recent QEI deadline for CDEs that applied in the 2012 allocation round and discusses an eligibility and transition FAQ document that the CDFI Fund has released. In low-income housing tax credit news, he follows up on how changes in rural population could affect property income limits. Additionally, he covers a report on housing and transportation costs for moderate-income households and a new community planning and development income eligibility calculator from the U.S. Department of Housing and Urban Development. In historic tax credit news, he provides listeners with an update on the Historic Boardwalk Hall case and increasing support for Rhode Island’s state HTC. Finally, in renewable energy tax credit news, he discusses the Obama campaign’s call to extend the Section 48C advanced energy manufacturing credit, an investor push to extend the expiring wind energy production tax credit and record-level turbine installations.
Michael J. Novogradac, CPA, discusses the latest tax credit industry news for the week of Oct. 23, 2012. In general tax credit news, he informs listeners about a Joint Committee on Taxation experiment that explored eliminating tax expenditures, updated listeners about the results of his Lame Duck Congress poll and reveals his own thoughts on the likely outcome. In low-income housing tax credit news, he alerts listeners to the Internal Revenue Service’s distribution of unused 2012 LIHTC allocation and its announcement of inflation-adjusted 2013 volume caps as well as a change to rural populations that could affect LIHTC properties and a new industry group that aims to keep municipal bonds tax exempt. In historic tax credit news, he reports on a pledge from Rhode Island State Rep. Jeremiah O’Grady to push for an extension of the state’s HTC program and a request for a rehearing of the Historic Boardwalk Hall case. In renewable energy tax credit news, he alerts listeners to an opportunity to provide comment on a production tax credit-related notice and shares the American Wind Energy Association’s opinion on the candidates’ mentions of wind energy in the second presidential debate. Finally, in new markets tax credit news, he discusses Sen. Tom Coburn’s Wastebook 2012 and Maine congressional candidate Kevin Raye’s support of the Maine NMTC program.
Tax Extenders; Form 8586; Residual Receipts; Historic Preservation Certification Application; Solar Programmatic Environmental Impact Statement; Q3 2012 Global Clean Energy Investment; Applicable Qualified Equity Investment Issuance Threshold; New Markets Tax Credit Conference.
Michael J. Novogradac, CPA, discusses the addition of two new members to the so-called “Gang of Six.” In low-income housing tax credit news, he updates listeners on the House tax extenders bill and the 9 percent floor extension, discusses a report from the Corporation for Supportive Housing and alerts listeners to a U.S. Department of Housing and Urban Development request for comments on smoke-free policies. In historic tax credit news, he highlights a new website from the National Park Service and a report from the North Carolina Solar Center on solar panels on historic properties. In renewable energy news, he covers a recent voter survey that shows support for solar energy and reveals the most energy efficient states. Finally, in new markets tax credit news, he provides information on qualified equity investments and new contact information for the Community Development Financial Institutions Fund.
Michael J. Novogradac, CPA, alerts listeners to a continuing resolution for the fiscal year 2013 budget and a new Gang of Six in Washington, D.C. In low-income housing tax credit news, he covers two Government Accountability Office reports, one on the Community Reinvestment Act’s effect on low-income housing tax credit investment and one on collaboration of federal housing assistance programs. Additionally, he addresses an expansion of the Multifamily LowIncome Housing Tax Credit Pilot program and the 2013 Difficult Development Areas. In new markets tax credit news, he discusses final rules for non-real estate investments and the amount of credits requested during the 2012 application round. In historic tax credit news, he announces the winners of the 2012 J. Timothy Anderson Awards for excellence in historic preservation. In renewable energy tax credit news, he discusses an act to extend master limited partnerships to renewable energy projects and a recent Congressional Service Research report on energy tax policy.
Michael J. Novogradac, CPA, discusses support for tax extenders legislation and the Financial Accounting Foundation’s Private Company Council in general tax credit news. In low-income housing tax credit news, he discusses Sen. Maria Cantwell’s call to extend the fixed 9 percent floor for the LIHTC, the Internal Revenue Service’s most recent LIHC newsletter and a tax expenditure report from New Mexico. In new markets tax credit news, he alerts listeners to a call from freshman Republican senators to extend the new markets tax credit. In historic tax credit news, he discusses the passage of S. 3245 and the renewal of the EB-5 program, as well as Ohio’s ninth round of state historic tax credits. Finally, in renewable energy news, he alerts listeners to the growing support for the wind production tax credit and two Section 1603-related topics: a revival of the Section 1603 program for biodigesters and changes to the Treasury’s Section 1603 system.
Michael J. Novogradac, CPA, discusses the estimated effects of budget sequestration cuts on affordable housing, community development and renewable energy programs and updates listeners on tax extenders legislation and tax reform efforts. In new markets tax credit news, he reminds prior round allocatees about the deadline to meet the minimum QEI issuance requirement and announces an update to the Novogradac NMTC Mapping Tool to reflect 2010 census data. In the historic tax credit segment, he shares news about the National Park Service’s five-year Call to Action plan. Low-income housing tax credit news includes findings from the federal rental alignment pilot’s interim evaluation report that was released this summer by the Rental Policy Working Group. Mr. Novogradac concludes the podcast with renewable energy tax credit news about Sen. Patrick Leahy’s support for PTC extension as well as some recent renewable energy industry trends.
Michael J. Novogradac, CPA, discusses the upcoming report on the implementation of budget sequestration cuts and invites listeners to take the Novogradac Journal of Tax Credits Reader Survey in general tax credit news. In new markets tax credit news, he summarizes the most recent QEI issuance report, reminds prior round allocatees about meeting minimum QEI issuance requirements and notes the postponement of the CDFI Fund’s Advisory Board meeting. The historic tax credit news segment includes a reminder about next week’s Historic Boardwalk Hall webinar. In low-income housing tax credit news, he shares positive news about a record number of investors joining the Affordable Housing Investors Council and extends an invitation to Affordable Housing Conference participants to attend an LIHTC Working Group meeting. Mr. Novogradac concludes the podcast with renewable energy tax credit news about conservative opposition to the wind energy production tax credit.
Michael J. Novogradac, CPA, discusses the Family and Business Tax Cut Certainty Act, a recent article about tax reform and the Sequestration Transparency Act of 2012 in general tax credit news. In new markets tax credit news, he reminds listeners about the approaching 2012 application deadline and alerts community development corporations in Hurricane Isaacaffected areas about a potential deadline extension. The historic tax credit news segment features a reminder about this week’s National Historic Tax Credit Conference and the upcoming Historic Boardwalk Hall webinar as well as a request for comment from the National Park Service historic preservation certification application and the revival of the Missouri’s tax credit review commission. Low-income housing tax credit news includes a California bond issuing agency review and a Treasury Inspector General for Tax Administration municipal bond review. Mr. Novogradac wraps up the podcast with renewable energy tax credit news and a Section 1603 program audit of Moraine Wind II in Minnesota.
Michael J. Novogradac, CPA, discusses the fiscal cliff and the implementation of the Volcker Rule in general news. In low-income housing tax credit news, he reveals the results of a report on maintaining unit affordability after Year 15. In new markets tax credit news, he alerts listeners to the approaching 2012 application deadline, an upcoming Community Development Financial Institutions Fund Advisory Board meeting and the Office of the Comptroller of the Currency’s latest newsletter. In renewable energy tax credit news, Mr. Novogradac discusses a new report on energy jobs and a Department of Energy hydropower workshop. Finally, he wraps up with historic tax credit news and the latest in the Historic Boardwalk Hall case.
Michael J. Novogradac, CPA, discusses a request for input about an alternative to the Volcker Rule. In low-income housing tax credit news, he informs readers about a recent Internal Revenue Service Private Letter Ruling on tax-exempt bonds, alerts listeners to Novogradac & Company’s new LIHTC Mapping Tool and clarifies some aspects of the Texas Fair Housing Case. In new markets tax credit news, he tells listeners about new application guidance from the Community Development Financial Institutions Fund. In renewable energy news, he reveals the results of two reports, one on the U.S. wind energy market and one on solar market trends.
Michael J. Novogradac, CPA, discusses the fiscal cliff and the sequestration transparency act as well as the latest Basel III updates. In low-income housing tax credit news, he talks about the Internal Revenue Service’s utility allowance, proposed U.S. Department of Housing and Urban Development proposed 2013 fair market rents, the Affordable Housing for Moderate-Income Seniors Act and the latest developments in the Texas fair housing case. In new markets tax credit news, he alerts readers to a new Office of the Inspector General of the Treasury’s audit of the American Recovery and Reinvestment Act new markets tax credit allocations, new community development entities and the approaching 2012 allocation round deadline. In renewable energy tax credit news, he discusses the Office of Inspector General’s latest Section 1603 project audits. Mr. Novogradac wraps up with some disappointing historic tax credit news about the Massachusetts historic tax credit program.
Michael J. Novogradac, CPA, updates listeners on tax extenders legislation, federal budget discussions and the Journal of Tax Credits Developments of Distinction Awards. In low-income housing tax credit news, he discusses a 9 percent floor extension passed by the Senate Finance Committee, the U.S. Department of Housing and Urban Development 2013 Fair Market Rents and the 2011 National Volume Cap Report from the Council of Development Finance Agencies. In new markets tax credit news, Mr. Novogradac discusses a new markets tax credit extension passed by the Senate Finance Committee and a support letter from two Republican Congressmen as well as the latest Qualified Equity Investment issuance report. In renewable energy tax credit news, he alerts readers to wind production tax credit and investment tax credit extensions and a 2013 renewable energy proposal from the New England Governors’ Conference. Mr. Novogradac wraps up the podcast with historic tax credit news about an extension of the Massachusetts state historic tax credit.
Michael J. Novogradac, CPA, updates listeners on several Congressional hearings related to tax reform, new legislation, tax-exempt entities and the U.S. Department of Housing and Urban Development’s rental housing assistance program. In renewable energy news, he covers the American Advanced Energy Manufacturing Jobs Act (H.R. 6182) and a recent National Renewable Energy Laboratory study. The new markets tax credit discussion features an update on the 2012 application and CDE certification, as well as an opportunity to access Novogradac’s 2012 NMTC application webinar. In low-income housing tax credit news, Mr. Novogradac alerts readers to program recommendations from the National Housing Trust and an impending California redevelopment agency dissolution-related deadline. In historic tax credit news, he informs readers of a recent legislative victory in Ohio, a Q&A on Native American Traditional Cultural Landscapes and an upcoming Advisory Council on Historic Preservation meeting.
Michael J. Novogradac, CPA, brings listeners the latest news on tax credit reform, small business tax legislation and the Bush tax cut extensions. In historic tax credit news, he discusses two recent IRS private letter rulings and the Rehabilitation of Public Schools Act. In renewable energy tax credit news, Mr. Novogradac reveals the results of a report on the Section 1603 cash grant program and the solar investment tax credit. In new markets tax credit news, he reminds listeners of upcoming deadlines for the 2012 application round, summarizes the CDFI Fund’s latest qualified equity investment issuance report and alerts listeners to a request for comments on the community development entity certification application. Finally, Mr. Novogradac wraps up with a report from the Center on Budget and Policy Priorities about a potential renters’ tax credit program.
Michael J. Novogradac, CPA, updates listeners on the latest in tax reform and small business jobs bills as well as tax extenders legislation and the capital gains tax. In new markets tax credit news, he announces the credit’s 2012 allocation round and President Obama’s proposal to make the NMTC friendlier to small business investment. In the historic tax credit section, Mr. Novogradac discusses the 2012 Rutgers University and Historic Tax Credit Coalition Report on the HTC’s economic impact. In the low-income housing tax credit section, he shares the preliminary results of an LIHTC tenant study. In the renewable energy tax credit section, he wraps up with industry efforts to extend the investment tax credit and production tax credit.
Michael J. Novogradac, CPA, updates listeners on the Ways and Means Committee’s hearing on the Affordable Care Act, Senate Bill 2237 and a the status of a couple of Treasury Department nominees, and informs listeners about a new Bond Dealers of America tax reform task force. In historic tax credit news, he alerts listeners to a correction related to the National Park Service’s proposed fee change and Pennsylvania’s new historic tax credit. Low-income housing tax credit news features several U.S. Department of Housing and Urban Development budget updates as well as news about the Colorado wildfires and the new Louisiana Housing Corporation. He wraps up with information about the 2012 new markets tax credit funding round, Ohio’s award of state new markets tax credits and a Louisiana tax expenditure study.
Michael J. Novogradac, CPA, updates listeners on the fiscal challenges facing the federal government and on tax reform and extenders hearings. In renewable energy news, he informs readers about a production tax credit support letter and new guidance on qualified energy conservation bonds. In historic tax credit news, he alerts readers to the impending release of Rutgers University’s annual report on the historic tax credit and the recent award of state historic tax credits in Ohio. In low-income housing tax credit news, he shares the plaintiff’s response to the Texas Department of Housing and Community Affairs remediation plan in its Fair Housing Act case and reveals the results of a study on the economic impact of affordable housing development in New York. Finally, in new markets tax credit news, he updates listeners on the potential release of the NMTC notice of allocation availability.
Michael J. Novogradac, CPA, updates listeners about the updated Domenici-Rivlin tax plan, the Small Business Jobs and Tax Relief Act (S. 2237) and the new “Robin Hood Tax.” In historic tax credit news, he discusses the Historic Boardwalk Hall case, a National Park Service Proposal to increase fees for HTC application reviews and proposed changes to the HTC’s in Iowa and New York. In low-income housing tax credit news, Mr. Novogradac informs listeners about a Government Accountability Office report on the Section 1602 tax credit exchange and tax credit assistance programs, a recent report on the country’s rent burdens and California Tax Credit Allocation Committee guidance about sustainable building methods. In new markets tax credit news, he alerts listeners to the 2012 New Markets Tax Credit Handbook and a North Carolina new markets tax credit program. Finally, he wraps up in renewable energy with a production tax credit support letter from Sprint and Microsoft, the Office of the Inspector General of the Treasury’s work with the Section 1603 cash grant program, a House Commerce Committee criticism of the Section 1603 program and a proposed rule from the Federal Housing Finance Agency in regards to properties that receive financing through property assessed clean energy programs.
Michael J. Novogradac, CPA, alerts listeners to a Senate Finance Committee hearing on the fiscal crisis and a discussion of the U.S. Department of Housing and Urban Development’s 2013 budget. In new markets tax credit news, he discusses a comment request from CDFI Fund about its Allocation Tracking System and Maine’s state NMTC program. In low-income housing tax credit news, he discusses the Federal Housing Finance Agency’s new LIHTC-related financing goals, the latest State of the Nation’s Housing report and a HUD proposal to cap public housing authorities’ executives’ salaries. The historic tax credit discussion summarizes a new bill introduced to enhance the credit and the upcoming CAPP Act lobby days. He wraps up with renewable energy and Senator Mark Udall’s plan to open each Senate session with a discussion of the production tax credit, as well as an update on a recent Senate hearing on tax reform and energy policy
Michael J. Novogradac, CPA, relays Senator Max Baucus’s tax reform proposal and Representative Pat Tiberi’s tax extenders hearing. In the new markets tax credit section, he discusses the NMTC Coalition’s 2012 progress report and the CDFI Fund’s monthly Qualified Equity Investment Issuance Report update. Additionally, he alerts listeners to the Novogradac & Company’s new qualified low-income community investment summaries. In the low-income housing tax credit section, he discusses the annual report from the Advisory Committee on TaxExempt and Government Entities, two memos from the California Tax Credit Allocation Committee and North Dakota’s Housing Incentive Fund. Mr. Novogradac then discusses historic tax credit news, including Representative Earl Blumenauer’s call for the modernization of the historic tax credit, a report from the National Governors Association and the Massachusetts Tax Credit Transparency Report. Finally, he wraps up with a bill introduced that would enable renewable energy investors to form master limited partnerships, the Sierra Club’s “Wind Works” campaign and an upcoming Senate Finance Committee hearing.
Michael J. Novogradac, CPA, alerts listeners to a Bipartisan Policy Council event that will include a discussion of comprehensive tax reform and a congressional staff briefing on the new markets tax credit by the Congressional Real Estate Caucus. He also discusses Alabama’s new market tax credit program. In low-income housing tax credit news, he discusses comments that the National Council of State Housing Agencies submitted to the IRS on compliance matters and NCSHA’s 2012 housing conference. He wraps up with a recent IRS advice memo related to the California redevelopment agencies’ dissolution and previously issued bonds. In historic tax credit news, he covers reports on state-level programs in Massachusetts and Rhode Island. Finally, he informs readers about a draft of renewable energy guidance from the Department of Energy, comments that Sens. Grassley and Bingaman made last week regarding the production tax credit and Iowa’s Solar Investment Tax Credit.
Michael J. Novogradac, CPA, updates listeners about tax extenders hearings and upcoming Congressional hearings and discusses the Municipal Bond Market Support Act of 2012. In the new markets tax credit section, he reports on potential program regulatory changes and a recent report on access to supermarkets in America. He also highlights a bill intended to increase low-income housing tax credits available to areas affected by Hurricane Irene and Tropical Storm Lee and discusses the U.S. Department of Housing and Urban Development’s Unique Building Identifier File and informs listeners about a recent document issued by the Internal Revenue Service that addresses the responsibilities of conduit issuers of tax-exempt bonds. He wraps up low-income housing tax credit news with the latest development in the Texas Department of Housing and Community Affairs’ Fair Housing Act case. Finally, he summarizes President Obama’s recent visit to Iowa in support of extending the wind energy production tax credit and the 48C advanced energy manufacturing tax credit.
Michael J. Novogradac, CPA, discusses statements made last week by lawmakers regarding the debt ceiling, tax extenders and tax reform. Then he updates listeners on the timing of the next new markets tax credit allocation application round and reviews the provisions of a bill that would make low-population census tracts eligible for the NMTC. Next, he discusses a briefing to educate Capitol Hill staff on the benefits of the low-income housing tax credit. He also reviews proposed changes to the Section 8 program and congratulates this year’s Charles L. Edson Tax Credit Excellence Award winners. In the renewable energy segment, he describes a bill that would disqualify solar panels manufactured in China from the 30 percent investment tax credit, shares Energy Secretary Steven Chu’s remarks calling for an extension of the production tax credit, and provides an important reminder about the timing of applications for renewable energy projects that plan to seek Section 1603 cash Grants. Finally, he updates listeners on the Missouri state historic tax credit.
Michael J. Novogradac, CPA, discusses two exciting Novogradac & Company additions. He shares recent developments on the prospects for passage of federal tax legislation before the November elections. He then reviews several Congressional hearings, including last week’s hearing on federal support for financial institutions and the Volcker Rule, Treasury official confirmation hearings and a hearing planned for this week about tax-exempt entities in the context of tax reform. In the new markets tax credit discussion, he shares two updates related to the new eligible census tract data released for the new markets tax credit program and an item of interest regarding Oregon’s newly enacted state new markets tax credit. In the low-income housing tax credit section, he discusses the status of fiscal year 2013 Section 8 project-based funding and a funding opportunity announced recently by the Federal Home Loan Bank of San Francisco. Finally, in the renewable energy segment, he discusses President Obama’s recent call for Congress to extend the production tax credit.
Michael J. Novogradac, CPA, discusses a hearing that will be held this week on federal support for financial institutions and a policy forum held last week on the topic of tax reform. Then he discusses the much-anticipated release of updated eligible census tract data for the new markets tax credit program and describes the transition period provided by the CDFI Fund for new markets professionals to adjust to the new data. Next, he examines the long-awaited final low-income housing tax credit qualified contract regulations, shares analysis of the newlydesignated 2013 qualified census tracts and briefly discuss low-income housing tax credit property disposition guidance released by the IRS. In the historic tax credit discussion he shares statistics about conservation easement cases currently on the U.S. Tax Court’s docket and previews the Advisory Council on Historic Preservation’s next quarterly meeting. Finally, in the renewable energy segment, he discusses the provisions of the IMPACT Act, which would extend a number of important renewable energy tax incentives.
Michael J. Novogradac, CPA, discusses last week’s congressional hearing on tax extenders, as well as additional remarks made in advance of the hearing by a bipartisan group of lawmakers calling for an extension of the production tax credit. In the low-income housing tax credit segment, he discusses highlights from the National Council of State Housing Agencies’ 2012 Legislative Conference. The he shares an announcement from the Historic Tax Credit Coalition, which recently released a new mapping tool that can be of great use to supporters of the historic preservation tax credit. Finally, he discusses the findings of a report released last week about the use of the new markets tax credit in metro and non-metro areas and provides a state level update from Nebraska.
Michael J. Novogradac, CPA, discusses an important update on the implementation of the Volcker Rule and a key congressional hearing that will address tax extenders. In the lowincome housing tax credit section he discusses HUD’s announcement that it has designated new qualified census tracts or QCTs for 2013 and reviews the findings of a GAO report about the housing choice voucher program. In the renewable energy segment, he discusses an oversight committee hearing that examined tax incentives for renewable energy. Then he shares some positive comments made by Senator Carl Levin in support of the PTC. In the historic tax credit discussion, he provides update on the proposed Pennsylvania state historic tax credit. And finally, in the new markets tax credit discussion, he shares state level updates from Florida and Missouri.
Michael J. Novogradac, CPA, updates listeners about recent and upcoming Congressional debates and votes, discusses bonus depreciation legislation introduced in the Senate and provides a heads up about a hearing on tax reform planned for next week. He then discusses favorable guidance from the IRS regarding power purchase agreements, the Section 1603 cash grant program, interesting points from the GOP’s budget proposal and highlights from a recent global energy investment report. The low-income housing tax credit section includes information about a letter circulated last week by Sens. Cantwell and Snowe that seeks support for S. 1989, the California Tax Credit Allocation Committee’s geographic apportionments and a follow up about post-RDA guidance issued by the California Department of Finance. In new markets tax credit news, listeners can hear about state NMTC legislation introduced in Ohio.
Michael J. Novogradac, CPA, discusses the news that the United States now has the highest corporate tax rate in the developed world. Then, he discusses a new rule to determine which nonbank financial companies will be considered systematically important financial institutions (SIFIs). He also discusses the Volcker Rule. Next, he provides a quick status update on the Year 11 discussion that began on March 27, then reviews new guidance from California’s Department of Finance about the dissolution of RDAs. In the historic tax credit discussion, he discusses state level updates from Pennsylvania and Illinois. Then, he discusses comment letters submitted to the CDFI Fund about the NMTC program, the most recent QEI Issuance Report, and good news from Florida, where lawmakers raised the program caps for the state new markets tax credit. Finally, he reviews the findings of a report that found that the Section 1603 renewable energy cash grant program supported an average of 52,000 to 75,000 jobs per year, and shares a preview of the upcoming Financing Renewable Energy conference.
Michael J. Novogradac, CPA, discusses a report released last week about community development tax expenditures. He also shares updates on two items from last week: the House vote on the Republican’s proposed budget and the Ways and Means Committee’s vote on H.R. 9. Then, he reviews a hearing that considered the effect of expirations of renewable energy tax incentives and examines a report issued by the House Committee on Oversight and Government Reform that was very critical of the Department of Energy’s oversight of the Section 1705 loan guarantee program. Next, he discusses how states housing tax credit caps will be affected by the IRS’s release of updated population estimates, and a rule change that aimed at increasing the private development community’s involvement in projects that receive funding from both the LIHTC and Section 202 or 811 programs. Then, he provides a quick update on the Historic Boardwalk Hall case, and two state level updates from Massachusetts and Minnesota. Finally, he discusses the updated allocation agreement template and invites suggestions for topics to be discussed at Novogradac & Company’s upcoming Spring New Markets Tax Credit Conference.
Michael J. Novogradac, CPA, discusses the House Republicans’ proposed fiscal year 2013 budget, an upcoming hearing on tax extenders and a possible delay in the implementation of the Volcker Rule. Then, he discusses CDFI Fund guidance about serving targeted populations and examines the most recent QEI Report. Next, he previews a hearing about the effect of pending expirations of tax incentives on the renewable energy industry, and discusses recent questions raised about the jobs created by the Section 1603 cash grant program. In the low-income housing tax credit section of this week’s podcast, he reviews the topics covered in the most recent issue of the IRS’s LIHC Newsletter. He also discusses a recent court case in Texas that could have significant implications for the low-income housing tax credit community in that state, and possibly beyond. He also shares an announcement from the USDA about its Section 538 program, and a comment invitation from HUD regarding private-public partnerships used for mixed-finance development of public housing units. Finally, in the historic tax credit discussion, he shares a state-level update on legislation recently passed in Virginia.
Michael J. Novogradac, CPA, discusses a recent colloquy on the Senate floor that has direct implications for the future of tax extenders in the context of tax reform. He also shares an update on the federal budget process. Then, he discusses the status of the new markets tax credit extension and last week’s votes on energy tax extenders. He also discusses new guidance released by the IRS on Section 1603 cash grants, and state news from Florida. Next, he shares the apartment industry’s legislative priorities for the year and examines a bill introduced in Congress that is related to the redevelopment agency saga in California. Finally, he shares some findings from the most recent Out of Reach report published by the National Low Income Housing Coalition.
Michael J. Novogradac, CPA, reviews two hearings on tax reform and alerts listeners to the opportunity to request guidance from the Internal Revenue Service. Then, he shares an announcement about an upcoming conference focused on the Community Reinvestment Act, and important information for affordable housing property owners in Kentucky related to the recent tornadoes. Next, he shares good news from New Jersey, where a proposed state historic tax credit was passed out of committee last week. He also discusses more than $49 million in historic preservation grants awarded by Interior Secretary Ken Salazar. In the renewable energy segment, he discusses the status of an amendment that will be voted on in the Senate this week to extend the production tax credit and Section 1603 cash grant program. Finally, he shares a related update about an amendment to extend the new markets tax credit. He also discusses the CDFI Fund’s plans to update program eligibility criteria based on new Census data.
Michael J. Novogradac, CPA, reviews two hearings on tax reform and alerts listeners to the opportunity to request guidance from the Internal Revenue Service. Then, he shares an announcement about an upcoming conference focused on the Community Reinvestment Act, and important information for affordable housing property owners in Kentucky related to the recent tornadoes. Next, he shares good news from New Jersey, where a proposed state historic tax credit was passed out of committee last week. He also discusses more than $49 million in historic preservation grants awarded by Interior Secretary Ken Salazar. In the renewable energy segment, he discusses the status of an amendment that will be voted on in the Senate this week to extend the production tax credit and Section 1603 cash grant program. Finally, he shares a related update about an amendment to extend the new markets tax credit. He also discusses the CDFI Fund’s plans to update program eligibility criteria based on new Census data.
Michael J. Novogradac, CPA, discusses the president’s tax reform proposal and this week’s congressional calendar. Then, he shares highlights of the ninth round of new markets tax credit allocation awards. In the low-income housing tax credit section, he reviews FHFA’s plan for Fannie Mae and Freddie Mac and discusses legislation introduced in California to provide a permanent funding source for affordable housing. Next, he discusses a report about the measurement of the economic impact of historic preservation; a report that suggests that a Pennsylvania state historic tax credit would be an economic boon; and the war over tax credits in Missouri. Finally, he discusses the ongoing efforts to extend the renewable energy production tax credit.
Michael J. Novogradac, CPA, discusses the agreement reached on a long-term extension of the payroll tax holiday, Volcker Rule comment letters and a deadline reminder for listeners who do business in Puerto Rico. Then, talks about the ongoing efforts to extend the production tax credit, reviews an audit of the Section 1705 loan guarantee program and shares a scheduling update for listeners in Oregon. Next, he reviews the HUD and low-income housing tax credit section provisions of the proposed budget for fiscal year 2013, invites listeners to nominate properties for the 18th Annual Charles L. Edson Tax Credit Excellence Awards, and reviews the findings of two reports that examine the economic effect of the LIHTC in Georgia and New Hampshire. He also reviews the findings of a report about historic tax credit recapture rates and discusses state historic tax credit legislation in Minnesota, Rhode Island and Alabama. Finally, he reviews the latest new markets tax credit QEI issuance report.
Michael J. Novogradac, CPA, discusses summarizes key provisions in President Barack Obama’s proposed budget for fiscal year 2013. He also shares an update on the congressional conference committee negotiating an extension of the payroll tax holiday; reviews last week’s hearing on the interaction of tax policy and financial accounting rules; shares details of two new low-income housing tax credit pilot programs; discusses the how California’s tax credit allocating agency is dealing with the elimination of redevelopment agencies, and where there has been renewed interest in of tax-exempt housing bonds. Next, he discusses support for an extension of the renewable energy production tax credit; the provisions of the Creating American Prosperity through Preservation Act; and an amendment introduced in the Senate last week that would extend the new markets tax credit for one year through 2012, Congressman Richard Neal’s recent comments in support of the New Markets Tax Credit Program, and a video released by Enterprise about the new markets tax credit’s positive impact.
Michael J. Novogradac, CPA, discusses the status of tax extenders and the Obama Administration’s plan to propose a budget next week for fiscal year 2013. He also reminds listeners about the upcoming deadline to submit comments on the Volcker Rule. Then, he summarizes Fannie Mae’s and Freddie Mac’s multifamily business in 2011 and shares remarks made by Treasury Secretary Tim Geithner about the Administration’s plan to wind down the GSEs. Next, he discusses a bill that would eliminate all energy specific tax credits and alerts listeners to the impending release of an audit on the Section 1705 loan guarantee program. Then, he discusses the latest developments in the Historic Boardwalk Hall case and state historic tax credits in Indiana and Nebraska. Finally, he discusses the comment letter submitted by New Markets Tax Credit Working Group in response to the CDFI Fund’s invitation for suggestions on how to make the new markets tax credit program more efficient.
Michael J. Novogradac, CPA, reviews last week’s State of the Union Address. He also discusses the IRS’s updated Priority Guidance Plan and a Senate Finance Committee hearing on tax extenders and tax reform. Then, he examines proposals to change the tax treatment of carried interest and reviews a bill in Indiana that would change how property taxes are assessed for low-income housing tax credit properties. Next, he shares the findings of the American Wind Energy Association’s fourth quarter market report. Then, he discusses the next meeting of the Advisory Council on Historic Preservation and news from Missouri, where lawmakers have again begun to debate state tax credits. Finally, he considers legislation in Hawaii intended to make the state more attractive for new markets tax credit investing.
Michael J. Novogradac, CPA, reviews the joint committee hearing on the Volcker Rule and touches on two points of interest in the report released by the president’s Council on Jobs and Competitiveness. He also previews President Obama’s State of the Union address. Then, he discusses the state new markets tax credit proposed in Indiana. Next, he reviews the provisions of a bill that increase low-income housing tax credit caps in areas affected by Hurricane Irene or Tropical Storm Lee. He also discusses provisions of interest to the affordable housing community in New York Governor Andrew Cuomo’s proposed budget for 2012-2013, and shares an update on affordable housing California as redevelopment agencies begin winding down operations. Then, he discusses the Real Estate Roundtable’s amicus brief in the Historic Boardwalk Hall case. And finally he shares the findings of a report that found that the Department of Defense could generate 7,000 megawatts of solar energy on four of its military bases located in the California desert.
Michael J. Novogradac, CPA, congratulates the winners of the Developments of Distinction Awards. Then he alerts listeners to a hearing on the Volcker Rule. He also discusses historic tax credits in Kansas and Indiana; shares an announcement from Colorado about open positions on the tax credit allocation committee; reviews Sen. Udall’s comments about an extension for the production tax credit; summarizes an issue brief about government investments in renewable energy; and reviews numbers of interest to the new markets tax credit community.
Michael J. Novogradac, CPA, takes a look at the 20-member congressional conference committee that is expected to start formal meetings next week to hash out legislation to extend the payroll tax holiday and other provisions. Then, he reviews the Rental Policy Working Group’s recommendations regarding federal policy for affordable rental housing. Next, he reminds listeners of an upcoming deadline to submit comments about the NMTC, reviews the latest QEI Issuance Report, and discusses the proposed California state NMTC. Then he discusses the merger between two solar industry organizations and reviews a request for comments regarding right-of-way leases for renewable energy development on public lands and describes a new tool from NREL. Finally, he discusses efforts in Kentucky to remove the cap from the state historic tax credit.
Michael J. Novogradac, CPA, provides a preview of the first month of the second session of the 112th Congress and a reminder about an extended opportunity to comment on the Volcker Rule. Then he reviews the latest issue of the IRS’s LIHC Newsletter, discusses increases in state private activity bond volume caps, and the IRS’s tax-exempt bond work plan for 2012. He also examines what a recent ruling about redevelopment agencies means for affordable housing development in California. Then, he discusses the seventh round of state historic tax credit awards in Ohio. Finally, he reviews a report about uncertainty over the production tax credit’s extension and discusses the latest update from the Oklahoma Task Force for the Study of State Tax Credits and Economic Incentives.
Michael J. Novogradac, CPA, discusses where things stand in Congress; the comment period on proposed changes to how difficult development areas or DDAs are designated; NCSHA’s recent call for more rural housing funding; housing affordability for seasonal workers; an update on the Historic Boardwalk Hall case; a revised programmatic agreement between the Bureau of Land Management, the Advisory Council on Historic Preservation and the National Conference of State Historic Preservation Officers; and testimony presented earlier this month about the new markets tax credit program’s use on tribal land.
Michael J. Novogradac, CPA, discusses the status of tax extenders negotiations in Congress. Then he reviews legislation to make permanent the 9 percent tax credit percentage floor for the low-income housing tax credit, the National Council of State Housing Agencies’ updated LIHTC and Underwriting Recommended Practices, and an update on the status of HUD’s Rental Policy Working Group. Then, he discusses a letter urging House leaders to extend the New Markets Tax Credit program. He also summarizes remarks made by Congressman Richard Neal on the House floor in support of the new markets tax credit. Next, he shares an update on the Historic Boardwalk Hall case, and refers listeners to an interesting blog post about two baseball stadiums differing experiences with the historic preservation process. Finally, he discusses Treasury’s most recent Section 1603 guidance, a study on the impact of the production tax credit on the U.S. wind market, a Senate Finance Subcommittee hearing on renewable energy tax incentives, and a policy change at the Department of Defense that is expected to make it easier to develop renewable energy projects with the military.
Michael J. Novogradac, CPA, discusses the status of tax extenders legislation in Congress; the latest QEI issuance report and highlights of recent remarks made by CDFI Fund Director Donna Gambrell; new resources available for the tax credit community to support the historic tax credit program and the recently approved “Native American Traditional Cultural Landscapes Action Plan”; two letters sent to Congressional leaders urging the extension of renewable energy tax incentives; a proposed rule to reform federal surface leasing regulations for American Indian lands; efforts in the state of New York to secure additional tax credit authority for areas recovering from Hurricane Irene and Tropical Storm Lee; and legislation introduced to fund Project Rebuild.
Michael J. Novogradac, CPA, discusses Congress’s agenda for the remainder of the year; IRS guidance about state tax credits; a task force in Oklahoma charged with evaluating state tax credits programs; final NMTC targeted populations rules; the IRS conservation easement audit technique guide; an op-ed piece in support of expanding the historic tax credit; efforts to extend the Section 1603 cash grant program and the production tax credit; and the 2012 LIHTC income limits.
Michael J. Novogradac, CPA, discusses the collapse of the Super Committee and what lies ahead for Congress; the extension of Treasury’s New Issue Bond Program and the Temporary Credit and Liquidity Program; the FY 2012 income limits; an update on redevelopment agencies in California; the Historic Boardwalk Hall case; a report on the Minnesota Historic Rehabilitation Tax Credit; an awarding winning initiative in Vermont; an OIG audit of the CDFI Fund; the new InvestOhio Tax Credit; a bill to provide an investment tax credit for microturbines; and the tax treatment of Section 1603 grants in California.
Michael J. Novogradac, CPA, discusses the failure of the Super Committee and building momentum for tax extenders. He shares news about the New Markets Tax Credit Extension Act as well as discusses a report that evaluates new markets tax credits’ effect on inner cities. In historic tax credit news, he highlights the job creation benefits being provided by the Minnesota Historic Rehabilitation Tax Credit. In renewable energy news, he describes a letter that the Governors’ Wind Energy Coalition sent to Congressional leaders urging the extension of the PTC as well as the provisions of the STORAGE Act, which would provide a tax credit for investment in energy storage property. In low-income housing tax credit news, he discusses the distribution of 2011 national pool tax credits, some major provisions of the 2012 HUD appropriations bill and a notice that clarifies the conditions under which not-for-profit owners can retain the proceeds from the sale of FHA-insured or HUD-held, formerly FHAinsured multifamily properties.
Michael J. Novogradac, CPA, discusses remarks made by Senator Tom Carper regarding the chances for passage of renewable energy tax credit legislation and a project the EPA is conducting to evaluate the feasibility of renewable energy development on Brownfield and Superfund sites. Then, he reviews the contents of a letter sent to all members of Congress last week urging the passage of a tax extenders bill that would, among other things, extend the new markets tax credit. He also discusses the new National Park Service web site for historic preservation tax incentive information and shares an announcement from the National Trust for Historic Preservation. In the lowincome housing tax credit segment, he discusses a recent meeting between the National Housing Trust and the chairman of the Federal Reserve. And finally, at the state level, he reviews the details of a recent appeals court case in Oregon, where the court ruled that a housing credit agency cannot give early release from LIHTC restrictions in case of serious noncompliance and tax credit recapture.
Michael J. Novogradac, CPA, discusses the list of banks that were designated as systematically important; the Super Committee; tax reform; and federal appropriations. Then he discusses a number of new renewable energy tax credit bills that were introduced last week; a comment invitation seeking input on the new markets tax credit program; new NMTC compliance monitoring guidance and the latest QEI issuance report. Next, he discusses guidance complied to assist the preservation community in addressing Section 106 requirements during disaster response efforts and an op-ed in support of the Rehabilitation of Historic Schools Act. Finally, he discusses the Financial Service Committee hearing about the HOME program, and proposed changes to the HOME program regulations.
Michael J. Novogradac, CPA, discusses Rep. Dave Camp’s draft tax reform; the Super Committee’s progress; the status of federal appropriations; the launch of the Bipartisan Housing Commission; the brief filed by the IRS in its appeal of the Historic Boardwalk Hall case; the next meeting of the Advisory Council on Historic Preservation; the provisions of the Community Wind Act; key points of two new private letter rulings; the findings of project level audits of Section 1603 cash grants; an update on Oklahoma’s state tax credit task force; the 2012 difficult development areas; the IRS’s audits of multifamily housing bonds; $20 million in additional state low-income housing tax credits in Massachusetts; new NMTC project data; and the CDFI Fund’s new deputy director, Dennis Nolan.
Michael J. Novogradac, CPA, shares an update on the Super Committee; discusses a report that compares the New Markets Tax Credit program to a comparable cash grant program; updates listeners on the status of New Markets Tax Credit Extension legislation; shares encouraging words of support for the historic tax credit from Congressman Brian Higgins; discusses the ongoing debate over the state historic and low-income housing tax credits in Missouri; reviews a bill that would extend the investment tax credit to offshore wind power projects; discusses two reports about the domestic renewable energy industry; examines the inflation-adjusted low-income housing tax credit and tax-exempt bond caps for 2012; reviews a sign-on letter being circulated by the affordable housing community; mentions a White House affordable housing event; and discusses HUD’s future research plans.
Michael J. Novogradac, CPA, discusses an update on the Super Committee’s progress; summarizes legislation introduced to amend historic tax credit rules to allow local governments rehabilitate aging public schools; discusses a report about how to implement solar PV projects on historic buildings; reviews the findings of a report that found that a one-year extension of the Section 1603 cash grant exchange program would support more than 37,000 jobs in 2012. Then he shares some comments made last week by government leaders regarding the need for additional political support for renewable energy; summarizes briefly the possible effects of tax reform on the low-income housing tax credit; discusses disaster relief provided to certain low-income housing tax credit properties in Pennsylvania; and shares a synopsis of what tax reform could mean for new markets tax credit yields and previews one of the special events planned for this week’s New Markets Tax Credit Investors Conference.
Michael J. Novogradac, CPA, discusses a confidential, leaked draft of the Volcker Rule and what it means for the low-income housing tax credit, new markets tax credit, historic tax credit and renewable energy tax credit communities. Then he shares an update on the economic substance doctrine. Next, he reviews IRS guidance regarding the federal income tax treatment of the receipt of excessive payments under Section 1603. He also discusses a Congressional Research Services report that warns Congress not to let tax incentives for wind production expire. Then, he discusses legislation that would exempt formerly homeless youth who attend school full-time from the low-income housing tax credit’s student rule. Next, he reviews the new markets tax credit QEI Issuance Report and gives one last reminder about this week’s QEI issuance deadline. Finally, he provides updates about state historic tax credits in Missouri and Indiana.
Michael J. Novogradac, CPA, discusses the status of the federal budget and upcoming guidance expected from the Federal Accounting Standards Board that will significantly affect the real estate industry. In the low-income housing tax credit discussion, he reviews HUD’s final 2012 fair market rents, HUD’s plan to release income limit data each year on December 1, and the latest IRS LIHC Newsletter. Then he discusses testimony he gave at last week’s IRS hearing on proposed changes to the new markets tax credit regulations. Next, he looks at some of the last loan guarantees finalized under the Section 1705 program, and the findings of a report about the size of the U.S. solar markets. Finally, he invites listeners to nominate historic tax credit projects for a Development of Distinction award and provides an update on the latest developments in Missouri.
Michael J. Novogradac, CPA, discusses the Deficit Reduction Super Committee’s hearing on tax reform; the status of the federal budget; and recent and upcoming congressional hearings. Then, he discusses the status of support in Congress for the New Markets Tax Credit Extension Act. In the historic tax credit segment, he provides a state level update on the latest developments Missouri. Next, he reviews the status of HUD funding for fiscal year 2012, and discusses redevelopment agency funding in California. Finally, he discusses a joint hearing on the intersection of energy policy and tax policy that was held last week. He also discusses a Senate bill introduced last week to accelerate the depreciation schedule for energy-efficient roofs and shares highlights from a report that found that solar companies are hiring faster than the rest of the economy
Michael J. Novogradac, CPA, considers what President Obama’s deficit reduction plan may mean for tax credits; shares an update on the Deficit Reduction Super Committee; discusses the status of the federal budget; highlights items of interest in the IRS’s Priority Guidance plan; shares remarks about eliminating tax expenditures from a recent Senate Finance Committee hearing; and discusses a Ways and Means hearing about economic models used to score tax reform legislation. Then, he discusses the Healthy Food Financing Initiative and analyzes the latest QEI Issuance report released by the CDFI Fund. Next, he reviews a bill introduced last week to extend Midwestern Disaster Tax Credits. Then, he summarizes an IRS notice giving emergency LIHTC relief to properties in Vermont. Finally, he previews a joint hearing on the intersection of energy policy and tax policy and provides a quick update on a change to Oregon’s Business Energy Tax Credit.
Michael J. Novogradac, CPA, reviews President Obama’s job proposals and an update on tax patent legislation. Then he discusses Senate Democrats’ call to expand the new markets tax credit and shares highlights from a New Markets Tax Credit Coalition fact sheet about the new markets tax credit’s impact on job creation. He also reminds listeners about an important QEI issuance deadline and summarizes the provisions of the new Oregon state new markets tax credit. Next, he discusses HUD’s Multifamily Energy Efficiency Pilot Program and the status of the White House Domestic Policy Council’s rental alignment initiative. In the renewable energy tax credit section, he mentions two reports published by Standard & Poor’s about the renewable energy industry and discusses a column by Kansas Governor Sam Brownback where he expresses his support for the renewable energy production tax credit. Finally, in the historic tax credit segment, he shares updates on the status of the Historic Boardwalk Hall case and the status of Missouri’s state’s historic tax credit.
Michael J. Novogradac, CPA, discusses what we can expect from Capitol Hill as Congress reconvenes, President Obama proposes job-boosting measures and the Super Committee continues to ramp up. He also shares details about the Journal of Tax Credits' 3rd Annual Developments of Distinction Awards. Then, he discusses HUD’s collection of data about low-income housing tax credit property residents. He also shares new research about states’ preferences for supportive housing and discusses North Dakota’s new Housing Incentive Fund. Then, he previews Novogradac & Company’s Section 1603 Safe Harbor Webinar, and discusses new research that shows that the U.S. was a net exporter of solar in 2010, as well as new analysis of the global energy investment market. Next, he discusses the historic preservation community’s response to Hurricane Irene. Finally, he discusses Congressman Richard Neal’s scheduled keynote address at Novogradac & Company’s New Markets Tax Credit Investors Conference; shares some new remarks made by Senator Maria Cantwell in support of extending the new markets tax credit; discusses the CDFI Fund Advisory Board’s upcoming meeting; and notes the National Coalition for Capital’s recent recognition of two lawmakers in Maine.
Michael J. Novogradac, CPA, discusses a jobs proposal President Obama is expected to unveil in the coming weeks. He also discusses an OMB memo asking federal agencies to provide 5 and 10 percent cuts in their fiscal year 2013 budget requests; highlights and trends of HUD’s proposed FY 2012 fair market rents; the revised MAP Guide; record-setting demand for FHA-insured financing; and TCAC’s cost containment forums. Then, he examines a letter from the Governors Wind Energy Coalition that calls for a seven-year extension for the renewable energy production and investment tax credits and shares remarks in support of the PTC made by Congressman John Dingell. Next, he summarizes a new OCC fact sheet about the historic tax credit and describes the new programs that officials in Michigan describe as replacements for the state’s recently eliminated brownfield and historic tax credit programs. Finally, he discusses Senator Maria Cantwell’s comments in support of extending the new markets tax credit, and previews the NMTC Basics Webinar.
Michael J. Novogradac, CPA, discusses the IRS’s Industry Issue Resolution program; proposed 2012 fair market rents; applications for approximately $1 million in GO Zone tax credits in Louisiana; remarks about the renewable energy production tax credit made by presidential hopefuls during a recent straw poll in Iowa; a QEI issuance reminder for 9th round new markets tax credit applicants; and a new feature on the National Park Service’s web site.
Michael J. Novogradac, CPA, discusses the members appointed to the Joint Select Committee on Deficit Reduction, and an update on the ongoing discussions about tax reform. Then, he discusses the IRS’s updated procedures and resources for its Tax Exempt Bond Voluntary Closing Agreement Program, and the invitation for public input on new options for selling single-family real estate owned properties held by Fannie Mae and Freddie Mac and the Federal Housing Administration. He also shares two state-level updates: one about redevelopment agencies in California and another about the new Louisiana Housing Corporation. He also discusses the CDFI Fund’s Health Food Financing Initiative; applications for Maryland’s state historic preservation tax credit; and the formation of a task force that will serve as the central managing office for the development of large-scale renewable energy projects for the United States Army.
Michael J. Novogradac, CPA, discusses key dates ahead for the deficit reduction efforts in Washington, D.C. Then he summarizes new information about the 2011 new markets tax credit allocation applicants. He also discusses two bills introduced last week that would expand the use of new markets tax credits and examines the latest QEI issuance report. In the historic tax credit segment, he provides an update on the IRS appeal in the Historic Boardwalk Hall case and discusses efforts in Missouri to significantly limit the state historic tax credit. In the low-income housing tax credit discussion, he summarizes IRS guidance that will provide relief to bond issuers and the affordable housing community. He also discusses the developments of a recent lowincome housing tax credit stakeholder meeting. And finally, in the renewable energy tax credit section, he discusses a market report that indicates a rebound in the wind energy sector, as well as a new federal report on energy investments and subsidies.
Michael J. Novogradac, CPA, discusses the debt limit developments in Washington, D.C. He also discusses the efforts of the Rental Policy Working Group, highlights from NCSHA’s 2009 low-income housing tax credit utilization data, findings of a cost analysis of permanent supportive housing, and Novogradac & Company’s plans to celebrate the 25th anniversary of the low-income housing tax credit. In the historic tax credit segment, he gives a quick update on the IRS appeal in the Historic Boardwalk Hall case and shares details about the next meeting of the Advisory Council on Historic Preservation. Then, he discusses the provisions of the bipartisan New Markets Tax Credit Extension Act of 2011. And finally, he discusses an upcoming congressional hearing on energy tax policy, the introduction of the Geothermal Tax Parity Act of 2011, and the provisions of Oregon’s Renewable Energy Resource Equipment Manufacturing Facility Tax Credit.
Michael J. Novogradac, CPA, discusses the status of tax reform and deficit reduction talks in Washington, D.C. He also discusses the Affordable Housing Tax Credit Coalition’s rebuttal of Senator Coburn’s proposal to eliminate the low-income housing tax credit; the latest edition of the IRS’s Low Income Housing Credit Newsletter; an announcement about the Novogradac New Markets Tax Credit Mapping Tool which has been updated to include USDA Food Desert data; the extended nomination window for then Novogradac Community Development Foundation’s 4th Annual Community Development Awards; the provisions of the Historic Homeownership Revitalization Act; a state level update regarding the Missouri historic tax credit; the provisions of legislation introduced last week to provide tax credits for investment in offshore wind energy; a report that analyzed the clean economy of the nation’s 100 largest metropolitan areas.
Michael J. Novogradac, CPA, discusses the status of tax reform and deficit reduction talks in Washington, D.C. He also discusses a bill that would eliminate several tax expenditures; an IRS report about post-issuance tax-exempt bond compliance; relief for LIHTC properties in North Dakota; a TCAC memo regarding cost containment; legislation that would reinstated the stalled PACE program; renewable energy tax equity finance estimates; the formation of the first Congressional Biomass Caucus; deadline reminder for NMTC allocation applicants; and a task force reviewing Oklahoma’s state tax credits.
Michael J. Novogradac, CPA, discusses the status of tax reform and deficit reduction talks in Washington, D.C. He also reviews IRS comment invitations related to the LIHTC; shares news of the enactment of Hawaii’s state level LIHTC cash grant exchange program; and discusses California’s second LIHTC application round and the elimination of redevelopment agencies. Next, he provides more information about Section 1603 project audits being conducted by the Office of the Inspector General; reviews an OCC newsletter intended as a guide for national banks seeking to invest in solar energy projects; and discusses the findings of “U.S. Solar Market Trends 2010.” Then, he reviews the provisions of the Creating American Prosperity through Preservation Act of 2011 and its prospects for passage. Finally, he invites NMTCfinanced businesses to sign on to a letter in support of an extension for the new markets tax credit program and examines the most recent QEI Issuance Report.
Michael J. Novogradac, CPA, discusses the status of tax reform and deficit reduction talks in Washington, D.C. and rumors of Sec. Timothy Geithner’s exit from Treasury. He reviews the changes to HUD’s 2011 income limits. Next, he reviews Treasury guidance on Section 1603 solar projects, summarizes the Renewable Energy Parity Act, discusses Oregon’s elimination of the Business Energy Tax Credit and updates listeners on the Rural Energy for America Program. He reminds listeners about the opportunity to comment on proposed NMTC regulations. Finally, he shares positive state historic tax credit news from Ohio and Maine.
Michael J. Novogradac, CPA, discusses the status of deficit reduction talks in Washington, D.C. Then, he reviews a call to action from the Housing Advisory Group, a report from the Federal Housing Finance Agency about Fannie Mae and Freddie Mac, and the future of Texas’s low-income housing tax credit allocating agency. Next, he shares the latest news about the 9th round of NMTC applications as well as a new call for the extension of the New Markets Tax Credit in the Senate. He also reviews some of the findings of a report about trends in solar demand, manufacturing and pricing. Finally, he discusses a recent ruling from the U.S. Court of Appeals about a case involving a façade easement deduction.
Michael J. Novogradac, CPA, discusses the status of deficit reduction talks in Washington, D.C. Then, he shares several announcements related to low-income housing tax credits being used to provide relief to the victims of recent storms, tornadoes and flooding that have devastated numerous states. Next, he review the new resources made available last week to New Markets Tax Credit applicants. In the renewable energy tax credit discussion, he shares some of the findings of a report about the production tax credit and its effect on non-renewable energy sources in windier states. And finally, in historic tax credit news, he gives a quick update on the status of historic tax credit modernization legislation.
Michael J. Novogradac, CPA, discusses tax reform and deficit reduction talks in Washington, D.C.; highlights from the Spring New Markets Tax Credit Conference; key findings of a Novogradac & Company study that assesses the track record of the lowincome housing tax credit program; disaster relief provisions for victims of the recent flooding in Mississippi; an update on the IRS’s appeal in the Historic Boardwalk Hall case; IRS guidance about the definition of “qualified property” under the Section 1603 cash grant program; and an assessment that ranks states by clean energy market indicators.
Michael J. Novogradac, CPA, discusses tax reform proposals in in Washington, D.C. the 9th new markets tax credit notice of allocation availability; NMTC regulations proposed to facilitate more non-real estate investments in distressed areas; the 2011 income limits; legislation to allow service members to exclude basic allowance for housing from income when applying LIHTC housing; FHA’s new Green Refinance Program; a preview of a study scheduled for release on June 8 that assesses the track record of the LIHTC; findings of the second annual study on the economic impact of the federal historic tax credit; and highlights of testimony presented in Congress by renewable energy industry representatives.
Michael J. Novogradac, CPA, reviews testimony about the new markets tax credit given by CDFI Fund Director Donna Gambrell; summarizes changes made last week to the procedures for obtaining historic preservation certifications for rehabilitating historic structures; previews findings of the second annual study on the economic impact of the federal historic tax credit; reviews the contents of the newest LIHTC Newsletter; shares information about the latest round of HOPE VI grantees; and discusses a recently released private letter ruling that addresses the question regarding when the costs of structural components are eligible for energy tax credits.
Michael J. Novogradac, CPA, shares an update on tax reform and deficit reduction talks in Washington, D.C. Then he reviews the findings of a report about states’ reporting of tax expenditures. Next, he summarizes the findings of a report that suggests the LIHTC could be used to address housing shortages at some military installations, and discusses a bill that would abolish the National Housing Trust Fund. Then, he reviews the latest NMTC Qualified Equity Investment report and announces the keynote speakers for the upcoming Spring New Markets Tax Credit Conference. Next, he discusses recent correspondence from the IRS about charitable deductions of easements, describes changes to Iowa’s historic preservation tax credit, and updates listeners on the status of a bill to extend Louisiana’s historic tax credit. Finally, he shares news from AWEA’s wind power conference, and discusses the potential impact of anexpansion of Georgia’s state solar energy tax credit.
Michael J. Novogradac, CPA, discusses recent IRS comments about the economic substance doctrine and recent reports about whistleblower activity in the municipal bond market. He also shares another brief update on the budget and deficit talks taking place in Washington, D.C. Then, he discusses a bill introduced last week to extend the new markets tax credit for five years at $5 billion. Next, he examines the Department of Energy’s announcement that it is wrapping up its Section 1705 loan guarantee program. In historic tax credit news, he touches on an effort to secure funding for the Historic Preservation Fund and shares state level updates about the historic tax credit programs in Michigan and Louisiana. Finally, he updates listeners on the expected timing of the release of 2011 low-income housing tax credit income limits, discusses a housing finance reform bill introduced last week in the House, and shares news aboutchanges to the state housing agency in Florida.
Michael J. Novogradac, CPA, updates on what lies ahead for congressional lawmakers in the coming weeks. Then he discusses a new fact sheet about the renewable energy investment tax credit that has been posted online, as well as newresearch released by the Department of Energy’s National Renewable Energy Laboratory. Next, he reviews highlights of the Joint Center for Housing Studies’ latest report about the nation’s rental housing and shares information at the state level about the need for affordable rental housing in Vermont and a proposed state low-income housing tax credit in Minnesota. Then he discusses legislation proposed in Louisiana to extend the state historic tax credit. Finally, he previews Novogradac & Company’s upcoming new markets tax credit conference and workshops that will be held in Washington, D.C. in June.
Michael J. Novogradac, CPA, discusses an article from the Washington Examiner that is critical of the Section 1603 renewable energy cash grant program. Then he shares a state level update about the Business Energy Tax Credit (BETC) in Oregon. In the low-income housing tax credit discussion, he congratulates the winners of the Affordable Housing Tax Credit Coalition’s annual awards program and shares new details about HUD’s Small Area Fair Market Rent (FMR) demonstration project. In historic tax credit news, he reminds listeners who missed the webinar about the Virginia Historic Tax Credit Fund case that it’s still available for download; he also shares a state level update on historic tax credit in Maryland. In new markets tax credit matters, he describes some of the features of Novogradac & Company’s new NMTC Qualifying Census Tracts Mapping Tool. He closes with thoughts about what to expect when Congress returns to session next week.
Michael J. Novogradac, CPA, discusses the final figures for fiscal year 2011 funding as well as some thoughts about the upcoming congressional vote on raising the debt limit. He also shares an IRS invitation to submit suggestionsfor guidance projects. In renewable energy news, he summarizes the latest guidance from Treasury about the Section 1603 program. Then he talks about a letter in which the administration expresses its support for extending the placedin service deadline for GO Zone low-income housing tax credit properties. Next, he shares highlights from a recent editorial in defense of historic tax credits written by National Trust for Historic Preservation President Stephanie Meeks.And finally, in new markets tax credit matters, he examines the latest qualified equity investment report issued by the CDFI Fund.
Michael J. Novogradac, CPA, updates listeners on the federal budget for the remainder of fiscal year 2011. Then he discusses the House Republicans’ proposed budget for fiscal year 2012 and the latest legislative developments onthe tax reform front. In historic tax credit news, he shares a preview of Novogradac & Company’s webinar about the Virginia Historic Tax Credit Fund case. He also talks about state level updates on threats to the historic tax creditprograms in Michigan and Montana. Turning to renewable energy tax credits, he touches on two recent reports about the renewable energy development markets. In new markets tax credit news, he shares recent remarks made by Obamaadministration representatives about the NMTC program. And finally, in lowincome housing tax credit matters, shares an announcement about new research expected soon from Harvard’s Joint Center for Housing Studies.
Michael J. Novogradac, CPA, updates listeners on the ongoing federal budget negotiations. Then he discusses bonus depreciation guidance from the IRS; an update on tax patent legislation; the U.S. Court of Appeals reversal of theTax Court ruling in Virginia Historic Tax Credit Fund case; the IRS’s notice to appeal the Historic Boardwalk Hall case; insights from the National Park Service’s annual report about the historic tax credit in 2010; an upcoming hearingof the Ways and Means Human Resources Subcommittee of interest to the new markets tax credit community; an invitation for NMTC applications published by the City of Indianapolis; an announcement of the released of an updated 8823Guide; recent developments in the national debate over housing finance reform; and finally, a study about tax credits for developing wind and solar projects.
Michael J. Novogradac, CPA, updates listeners on the ongoing federal budget negotiations. Then he discusses efforts by lawmakers in New York to reinstate the Historic Rehabilitation Tax Credit Program. Then he previews his most recent blog posting, in which I respond to unfair commentary about the New Markets Tax Credit program. Turning to low-income housing tax credit matters, he discusses Senate Banking Hearing about housing finance reform and a reviews a compliance requirement for Recovery Act properties in California. Finally, he announces details of Novogradac & Company’s upcoming Financing Renewable Energy Conference.
Michael J. Novogradac, CPA, updates listeners on the federal budget, examines a HUD report on Recovery Act programs in cities, shares highlights from a Congressional briefing organized by the New Markets Tax Credit Coalition, introduces the Novogradac & Company NMTC mapping tool, addresses policy concerns about historic properties’ development standards, examines a Federal Reserve Bank of Dallas report on the effect of low-incomehousing tax credit development on schools, alerts listeners to HUD’s new affordable rental housing partnerships page, and reviews renewable energy bills S. 591 and H.R. 1023 and Idaho’s H.B. 265.
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 theother from the Solar Energy Industries Association.
Michael J. Novogradac, CPA, updates listeners on the budget and deficit talks taking place in Washington, D.C. and shares updates from several congressional hearings. Then he reviews the National Low Income Housing Coalition’s annual Out of Reach report; HUD’s new multifamily rental project closing documents; the impact of LIHTC financed developments on local schools; and two white papers released last week that detail Fannie Mae's support for the multifamily market. Then he discusses new statistics on Section 1603 renewable energy cash grants and changes being proposed by the Bureau of Land Management in an effort to facilitate renewable energy development on public lands. Next, he welcomes the new chief of the National Parks Service Technical Preservation Services office and reviews new guidance about how to make historic buildings more sustainable. Finally, he discusses the status of NMTC extension legislation; news that the New Markets Tax Credit Program was named one of the top 25 most innovative programs in American government; and a new online tool for locating “food deserts.
Michael J. Novogradac, CPA, shares an update on the status of federal funding negotiations in Congress. Then he reviews the latest qualified equity investment report from the CDFI Fund, and some information about a newProject Profile tool that new markets tax credit allocatees can use to share their success stories with the public. Next, he previews the March Journal of Tax Credits and the National Historic Tax Credit Conference. Then he examines theIRS’s 2011 population estimates and what they mean for states’ LIHTC and bond caps. And finally, he reviews new information about Section 1603 grant funding to date that was released last week by the Treasury Department.
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.
Michael J. Novogradac, CPA, updates listeners on the status of funding for the federal government; announces the winner of the Superbowl Commercial contest; and reviews at the National Park Service’s annual report about historictax credit activity in 2010. Then, he discusses recent federal and state renewable energy legislation; shares an update from the Novogradac New Markets Tax Credit Working Group; and reviews the findings of a report in Florida thatcompares the job creation generated by constructing new LIHTC developments compared to that of preserving existing developments.
Michael J. Novogradac, CPA, shares his initial impressions of the Obama Administration’s budget proposal for fiscal year 2012. Then he discusses the Administration’s proposal to reform the nation’s housing finance system; recentIRS guidance on the taxability of TCAP grants; the National Offshore Wind Strategy; two community development projects in Chicago that demonstrate the direct benefits the NMTC provides to low-income communities; and Maryland’smost recent round of Sustainable Communities Tax Credits.
Michael J. Novogradac, CPA, discusses tax patent legislation; anticipates the 2010 New Markets Tax Credit program allocations; informs listeners of recently released NMTC and HTC guidance from the Health Resources andServices Administration; informs listeners about the NMTC Coalition’s selection of Annie Donovan as president; mentions NMTC media attention; outlines Sen. Jeff Bingaman’s energy policy priorities; summarizes an American Wind EnergyAssociation report on 2010 wind facility construction; informs listeners about the availability of Oregon’s business energy tax credits; refutes Sen. Rand Paul’s claims about the low-income housing tax credit program; updates listeners about California’s Prop. 1C and Prop. 46 bond freezes; summarizes a Hawaii Housing and Finance Development Corporation report on single-room occupancy units near transit; summarizes President Obama’s Better Building Initiative; andupdates listeners on the Historic Boardwalk Hall LLC historic tax credit case.
Michael J. Novogradac, CPA, discusses President Obama’s State of the Union address; shares highlights from the New Markets Tax Credit Conference; updates listeners on two bills introduced in Congress related to renewableenergy tax credits, and a Federal Claims Court decision regarding the Section 1603 renewable energy cash grant exchange program; discusses legislation to extend an important deadline for GO Zone LIHTC properties and a new SEC rulethat will affect issuers of municipal bonds and tax credit pricing news in California.
Michael J. Novogradac, CPA, discusses legislation that would prohibit the patenting of tax planning strategies. Then he reviews the IRS’s work plan for tax-exempt bond issues and discusses several state level issues related toaffordable housing. Next, he shares an announcement about a new program designed to promote renewable energy in Tribal communities and discusses renewable energy legislation introduced in Oregon and Nebraska. Turning to newmarkets tax credits, he updates listeners on the latest tally of certified CDEs; reviews the CDFI Fund’s annual performance report; and summarizes a bill to create a state NMTC in Oregon. Finally, he shares information regardingnominations for the National Trust for Historic Preservation’s annual awards.
Michael J. Novogradac, CPA, shares news about Ways and Means Committee Chairman Dave Camp’s plans for comprehensive tax reform. Then he reviews rules published by the Federal Housing Finance Agency regarding Fannie Mae, Freddie Mac and the Federal Home Loan Banks. He also reviews multifamily housing market analysis released by the National Association of Home Builders. Next he discusses two renewable energy topics: a summary of legislation introduced to provide an investment tax credit for waste-to-energy facilities, and news in California regarding the taxability of Section 1603 grant funds. Then he checks in with New Jersey, where lawmakers last week moved one step closer to enacting a state historic tax credit. And finally, he previews some of the planned activities of the Novogradac NMTC Working Group.
Michael J. Novogradac, CPA, the chances for future tax extenders in light of impending debate in Congress over fiscal policy; last week's positive decision from the U.S. Tax Court in Historic Boardwalk Hall LLC v. Commissioner; IRSguidance regarding what constitutes a "significant changes" for Section 48C projects; comments submitted to HUD by the Novogradac LIHTC Working Group regarding proposed regulations for the National Housing Trust Fund; and a quickupdate on the timing for the next round of new markets tax credit allocations.
Michael J. Novogradac, CPA, discusses what to expect when Congress convenes this week; how states scored in a ranking of their use of Tax Credit Assistance Program funds; the possible timing of the next round of new marketstax credit allocations and applications; guidance regarding the deduction for renewable energy under Section 179D; and guidance regarding Colorado’s Conservation Easement Tax Credit.
Michael J. Novogradac, CPA, take a look at the year 2010 in review for the low-income housing tax credit, new markets tax credit, renewable energy tax credits and historic tax credits. He also discusses a little of what lies ahead forthese tax credits in 2011.
Michael J. Novogradac, CPA, summarizes what was included in the final tax extenders packaged approved by Congress last week. Then he shares information from two reports about the new markets tax credit program, includingprojections for job creation based on the new two year extension of the credit. Next, he discusses a memo released by the California Debt Limit Allocation Committee that addresses concerns that were raised by a recent IRS Noticeregarding tax-exempt bond issuance. Then he previews some of the historic tax credit content in this month’s issue of the Novogradac Journal of Tax Credits. And finally, he shares an announcement regarding public land that thegovernment has deemed to be best suited for solar development in the West.
Michael J. Novogradac, CPA, brings listeners up to speed on the status of tax extenders legislation and reviews the IRS’s priority guidance plan for the coming months. Next, he talks about a private letter ruling released last weekthat granted an extension of time to file an application for certification of historic status. He also shares more detailed information regarding $16 million available for reallocation under the Tax Credit Assistance Program. Next, he shares some insights regarding the CDFI Fund’s plans for implementing new Census data when it becomes available. And finally, he reviews the findings of two studies that rank states’ according to their energy policies and potential to produce energy
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 ofthe 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 ContinentalShelf. 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 IRSguidance 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 andshares news about the Capital Magnet Fund.
Michael J. Novogradac, CPA, shares information about a Federal Housing Administration pilot program that will speed up the processing of low-income housing tax credit transactions; summarizes a recent agreement reached overMontana’s qualified allocation plan; and discusses Louisiana Housing Finance Agency’s state housing needs assessment. Then he reviews a report from the Federal Reserve Bank of San Francisco about transit-oriented development.Next, he examines information from the Federal Energy Regulatory Commission about states’ energy generation and efficiency standards. And finally, he discusses a bill passed last week that could make New Jersey the 32nd state tooffer a historic rehabilitation tax credit.
Michael J. Novogradac, CPA, provides an update of the Congressional calendar, the status of the tax extenders and tax expenditures, and the Basel III rules; discusses the President’s Fiscal Commission’s draft report of proposed recommendations and Sen. Grassley’s questions about the Build America Bonds program; examines a Harvard’s Joint Center for Housing Studies report on lowincome housing tax credits, a Center for American Progress report on clean energy, IRS private letter ruling 201045013 and a working paper released by the Federal Home Loan Bank of San Francisco that examines that NMTC program’s performance during the recession. He also discusses the Missouri Tax Credit Review Commission’s recent recommendations and the Advisory Council on Historic Preservation’s upcoming meeting.
Michael J. Novogradac, CPA, examines the National Commission on Fiscal Responsibility and Reform’s draft report and shares a congressional update. Next, he discusses efforts to support the extension of the Section 1602cash grant exchange program; shares new tools provided by the Housing Advisory Group to help educate lawmakers on the benefits of the LIHTC; and summarizes a new market rate tax credit housing program in Massachusetts.Then, he discusses a White House memo that contemplates the futures of the Section 1705 renewable energy loan guarantee program and the Section 1603 renewable energy tax credit cash grant exchange program. He also discusses aCalifornia ballot proposition that may have rendered Section 1603 grants taxable. Next, he shares the latest news about Missouri’s Tax Credit Review Commission. And finally, he summarizes the most recent QEI issuance report.
Michael J. Novogradac, CPA, reviews the results of last week’s mid-term elections. Then, he discusses important news for the renewable energy community, including new documents posted last week by the Treasury Department regarding the Section 1603 cash grant program. Then he shares a comment letter submitted by the LIHTC Working Group to the Treasury Department about the Volcker Rule. Next he examines a report issued recently by a subcommittee of Missouri’s Tax Credit Review Commission. And finally he discusses an update about the CDFI Fund’s Health Food Financing Initiative.
Michael J. Novogradac, CPA, discusses what’s at stake in today’s midterm elections and shares another update on tax extenders legislation. Then, he reviews the inflation-adjusted LIHTC and private activity bond caps for 2011; shares the IRS’s announcement about the 2010 national pool; summarizes HUD’s proposed rules for the national Housing Trust Fund; and shares information a NOFA released by the state of New York. Then, he shares highlights from Rosa Martinez’s keynote address the New Markets Tax Credit Investors Conference in Chicago. Next, he discusses a task force that is examining the National Park Service’s administration of historic preservation programs, including the historic tax credit. And finally he discusses Sen. Sherrod Brown’s call to extend and expand the Section 48C tax credit program, and summarizes a report about jobs created by the geothermal energy industry.
Michael J. Novogradac, CPA, shares updates on tax extenders and the president’s fiscal reform commission. Then, he discusses an announcement for Recovery Act’s Section 1602 grant recipients and reviews the findings of a GAOreport on the reporting requirements of three HUD programs, including the Tax Credit Assistance Program. Next, he talks about the announcement of Ohio’s first round of state new markets tax credits awards and two announcements from the CDFI Fund. Then he previews historic tax credit articles from November’s Journal of Tax Credits. Finally, he discusses the Lead by Example initiative program in Massachusetts and talks about a video released by the AmericanWind Energy Association that refutes some recent criticisms that have been made about the Recovery Act’s Section 1603 cash grant in lieu of renewable energy tax credit program.
Michael J. Novogradac, CPA, discusses a recent White House conference focused on rental housing policy, the inaugural round of Capital Magnet Fund awards, a position opening at the Community Development Financial Institutions Fund, the National Park Services’ proposed changes to historic certification procedures, Section 1603 safe harbor compliance testing, a report from the Solar Energy Industries Association showing significant growth in the solar industry and a speech that Secretary of the Interior Ken Salazar gave at the Solar Power International 2010 Conference and Exhibition.
Michael J. Novogradac, CPA, discusses a White House report that lists 100 projects funded by the Recovery Act, the significance of HUD’s 2011 fair market rents, and a report that ranks green building elements in low-incomehousing tax credit qualified allocation plans. He also recaps a court ruling concerning a historic tax credit property that defaulted during its recapture period. He reviews the latest QEI issuance report and mentions a job opportunity at theCDFI Fund. Finally, he summarize a new report from the Department of Energy concerning offshore wind development and a preview of Novogradac & Company’s upcoming Financing Renewable Energy Conference being held inWashington, D.C. the week after the mid-term elections.
Michael J. Novogradac, CPA, shares an update on what’s in store for Congress. He also discusses recent comments from a representative of the Joint Committee on Taxation regarding the codification of the economic substance doctrine; reviews newly posted fair market rents for 2011; talks about IRS LIHC Newsletter #41; mentions potential changes to NCSHA’s recommended practices and shares proposed changes to California’s readiness scoring regulations. Next,he discusses highlights from a newsletter from the Office of the Comptroller of the Currency and a preview of an article from the Novogradac Journal of Tax Credits that includes tips on repairing and restoring windows in historic tax creditprojects. Then he discusses two Senate bills would extend energy tax incentives, and the potential impact of the financial reform bill on renewable energy tax credit investment. Finally, he closes with a couple tax credit tidbits.
Michael J. Novogradac, CPA, discusses the possible effect of new Basel III regulations on tax credit investing. He also reviews a report from the Government Accountability Office regarding the Recovery’s Act’s low-incomehousing tax credit programs, as well as a proposal to implement an LIHTC program in Canada. Then he summarizes new markets tax credit investment data through 2009; new legislation regarding an AMT offset for NMTCs; and ajob opening at the CDFI Fund. Next, he checks in on the Missouri state tax credit review commission. Finally, he discuss the pace at which the Department of Energy expects to disperse Recovery Act funds in the coming months, aprediction about the pace of wind turbine installations in 2011, and a review of recently introduced energy legislation.
Michael J. Novogradac, CPA, reviews several general tax credit news items including the Small Business Jobs bill; a tax extenders update; an IRS Notice about economic substance; and the effect of Basel III on tax credit investment by banks. In the LIHTC news corner, he shares information about the 2011 DDAs, last week’s Treasury Meeting of LIHTC stakeholders, and an audit issue affecting some LIHTC not-for-profits. Next, he examines the possible impact of a recent FASB lease accounting proposal on historic tax credit lease pass throughs. On the renewable energy front, he discusses an IRS notice on the tax credit for coal and three new reports about the renewable energy market. Finally, he shares news from the CDFI Fund about a job opportunity.
Michael J. Novogradac, CPA, shares an update on the status of tax extenders; discusses the status of the newly designated 2011 difficult development areas for the low-income housing tax credits, and reviews the latestactivities of the LIHTC Working Group. He also shares an important announcement for allocatees of new markets tax credits under the Recovery Act; discusses the IRS’s reply brief in the Virginia historic tax credit fund case; sharesinformation about the first deal closed under the Department of Energy’s Financial Institution Partnership Program, and touches on a proposal regarding a feed-in tariff in California.
Michael J. Novogradac, CPA, shares an update on the status of tax extenders; reviews the latest QEI report issued for the new markets tax credit program; discusses three LIHTC topics: a letter submitted to banking regulatorssuggesting improvements to the Community Reinvestment Act rules, a ruling from the IRS related to related to the timing of redemption of bonds used to meet the 50 percent test, and the Federal Housing Finance Agency’s 2011 housinggoals for Fannie Mae and Freddie Mac. Moving on to historic tax credits, he highlights a new law that is expected to help banks and insurance companies more readily use New York State Rehabilitation Tax Credits. On the renewableenergy front he considers the possible impact of financial regulatory reform on a banks’ ability to invest in renewable energy tax credits. Finally, he closes with some tax credit tidbits.
Michael J. Novogradac, CPA, updates listeners on the status of tax extenders legislation; reviews the Obama Administration’s conference on federal housing finance; shares announcement regarding HUD’s escrow requirement for tax credit equity; covers a proposal in Missouri to dedicate a third of the state’s affordable housing resources to create housing for the mentally ill and homeless; discusses the launch of Ohio’s NMTC Program; examines an Appeals Court decision in the Whitehouse Hotel case; and summarizes recent energy legislation enacted at the state level, as well as a new loan guarantee solicitation from the Department of Energy.
Michael J. Novogradac, CPA, shares an update on recent activity of the Novogradac New Markets Tax Credit working Group; discusses recently introduced renewable energy legislation and the DOE’s annual wind report; reviews the state tax credit deferral recently approved by New York’s legislature; talks about the highlights of IRS LIHC Newsletter #40; previews the 17th Annual Affordable Housing Tax Credit Conference; discusses provisions of the Community Recovery and Enhancement Act; and closes with tax credit tidbits.
Michael J. Novogradac, CPA, shares an update on the small business bill; discusses the 30 percent requirement for Section 1602 grantees; talks about states’ review of their affordable housing plans; examines the latest QEI report for the NMTC program; describes changes to Oregon’s state energy tax credit; reviews an update in the Virginia Historic Tax Credit Fund case; and closes with tax credit tidbits
Michael J. Novogradac, CPA, shares breaking news about the new markets tax credit, renewable energy tax credits, low-income housing tax credits, and historic tax credits. He also discusses the Fiscal Reform Commission, FHA funding and the future of federal housing finance. Finally, he closes with several tax credit tidbits.
Michael J. Novogradac, CPA, reviews the congressional calendar, discusses the House Financial Services Committee markup of a housing preservation bill, shares breaking news about the creation of a tax credit review committee in Missouri, describes Moody’s methodology for rating debt secured by rental housing, and shares information on the lawsuit filed by California’s attorney general against Fannie Mae and Freddie Mac. Finally, he closes with some tax credit tidbits.
Michael J. Novogradac, CPA, reviews the financial reform bill passed by Congress, covers the status of tax extenders legislation, discusses the small business tax and lending bill and shares information on energy legislation. He also discusses the National Commission on Fiscal Responsibility and Reform. Finally, he reviews some tax credit tidbits and closes with the tax credit calendar.
Michael J. Novogradac, CPA, reviews what is expected from Congress in the coming weeks, covers the upcoming CRA hearings, and shares information on FHA underwriting changes and Fiscal Year 2011 HUD and Rural Housing appropriations. He also discusses a proposal to expand the NMTC program and legislation to create a geothermal tax credit. Finally, he reviews the tax credit calendar and closes with some tax credit tidbits.
Michael J. Novogradac, CPA, shares an update on the congressional calendar, summarizes new analysis of HUD’s LIHTC database, discusses the CDFI Fund’s latest update of its QEI Issuance Report, reviews predictions of the post-stimulus landscape for renewable energy, updates listeners on a solar water heating incentive being implemented in California, examines a report that highlights growth for the wind industry, and shares two Tax Credit Tuesday tidbits: one about the future of Fannie Mae and Freddie Mac, and the other about public comments received regarding the Capital Magnet Fund.
Michael J. Novogradac, CPA, shares and update on tax extenders legislation, reviews the NMTC Coalition’s Progress Report 2010, announces new guidance for the Section 1603 renewable energy tax credit cash grant program, reviews news about a series of public hearings that will be held on the Community Reinvestment Act, updates listeners on state tax credit news from New York, Illinois and California, and summarizes items of note in the Financial Reform bill.
Michael J. Novogradac, CPA, shares and update on tax extenders legislation, reviews the jobs tax bills being considered in Congress, summarizes the results of Harvard’s Joint Center for Housing Studies’ annual State of the Nation’s Housing report, discusses the significance of Fannie Mae and Freddie Mac being delisted from the New York Stock Exchange, and updates listeners on the Tax Credit Calendar.
Michael J. Novogradac, CPA, shares information released by the CDFI Fund regarding demand for new markets tax credits in the 2010 application round, summarizes two revenue rulings released by the IRS regarding the new markets tax credit program, reviews the status of tax credit extender legislation, discusses the FHFA’s proposed rule for the GSE’s duty to serve underserved markets, and updates listeners on expected award dates for the Capital Magnet Fund.
Michael J. Novogradac, CPA, updates listeners on the status of tax extenders legislation, reviews Congress’s calendar, discusses a possible energy amendment to the extenders bill, shares an update from the Treasury Department on Build America Bonds, examines HUD’s 2007 Worst Case Housing Needs report and describes financial services legislation and its status in the House and Senate. He also mentions how the low-income housing tax credit played a role in the Senate race in Iowa, discusses state tax credit developments in Massachusetts and Oklahoma, and concludes with a look at the Tax Credit Calendar.
Michael J. Novogradac, CPA, updates listeners on the tax extenders bill, reviews the Federal Housing Finance Agency’s report on Fannie Mae, Freddie Mac and the Federal Home Loan Banks, shares highlights from the Government Accountability Office’s report on the Recovery Act, discusses the IRS Audit Guide for the New Markets Tax Credit program, talks about historic preservation in Pennsylvania, and closes with a look at the Tax Credit Calendar.
Tax Extender Bill Update; CDFI Banking Report; Capital Magnet Fund Applications; Municipal Bond Market Support Act
2010 Income Limits; HUD's Proposed Study of LIHTC Properties After 15 Years; S.B. 3336, the Private Activity Renewable Energy Bonds Act; S.B. 3338, the Advanced Biofuel Investment Act of 2010; Congressional Research Service Report on Energy Tax Policy
New Markets Tax Credit News; Extenders Bill Update; Renewable Energy Legislation Review; Fannie Mae's Top DUS Lenders
Google Invests in LIHTCs; N.Y. and Hawaii Move to Delay Business Tax Credits; CDFI Fund Seeks NMTC Application Reviewers; Voters Support Wind Energy; HUD Prepares for Sustainable Communities Planning Grants; Treasury's Spring 2010 Unified Agenda
Update on CA SB 401; Energy Bills H.R. 5041 and S. 3212; Green Housing Bill H.R. 2336, State Tax Credit Housing Updates in Lousiana, Tennessee
IRS Priority Guidance Plan Update; CDFI Fund News and NMTC Deadline Reminder; House Ways and Means Committee Hearing on Energy Tax Incentives; Solar and Geothermal Energy Market Reports; House Financial Services Committee Hearings on Housing Finance
Congressional Calendar Preview; 8th Round of NMTC Applications; 1603 Grants Exempted from California Income Tax; Proposed 30 Percent Biomass Tax Credit; AWEA's Annual Wind Industry Market Report
Congressional Calendar; IRS Relief for Storm and Flood Victims; Historic Tax Credit News from Minnesota, Missouri and Kansas; Recovery Act Guidance from TCAC; Build America Bond Update
Updated Section 1603 Guidance; Governors' Support for Renewable Energy Tax Credits; Housing Preservation Legislation; Changes to Oregon's BETC and New York's Historic Credit; Population Updates for the LIHTC; CDFI Fund's Annual Report; Capital Magnet Fund News
Legislative Update; IRS Guidance on Section 1602; Report on FHLB of Atlanta's Affordable Housing Program; Iowa State Tax Credit News
Tax Extenders and Jobs Bills; Capital Magnet Fund; Timing of 8th NMTC Round; Smart Grid Investment Grant Guidance
Tax Extenders Bill; Healthy Food Financing Initiative; Freddie Mac's 2009 Financial Results; Eligibility of Geothermal Projects for Section 1603
Proposal to Extend, Enhance the NMTC; Renewable Energy Expansion Act; Housing Goals for Fannie Mae, Freddie Mac
Response to GAO's Recommendations for the NMTC; Detailed Review of 2011 Budget Proposals for Affordable Housing, Community Development and Renewable Energy
Tax Extenders Legislation; Renewable Energy Bills Introduced; Calif. AB 2640; LIHTC Tenant Data Collection
Rehabilitation of Historic Schools Act; GAO's Report on NMTC Program; Proposed Federal Budget Freeze; Update on State Tax Credits; Green Building Incentives in QAPs
Congressional Update; Financial Crisis Responsibility Fee; Capital Magnet Fund; 2008 LIHTC Utilization Figures
HFA Initiative; Accounting Guidance for Tax Credit Investors; Report on Community Wind and the Recovery Act; Treasury FAQs for Section 1603; Iowa State Tax Credit Review; JCT Tax Expenditure Estimates
Breaking News Roundup; FASB Guidance on Book Consolidation Issues; Disguised Sale Case; Congressional Concerns about Section 1603 Program
Michael J. Novogradac, CPA, take a look at the year 2010 in review for the low-income housing tax credit, new markets tax credit, renewable energy tax credits and historic tax credits. He also discusses a little of what lies ahead for these tax credits in 2011.
Today is Tuesday, December 29th, 2009. This week I bring you greetings from Chiang Mai, Thailand. This is the last podcast of the year, and I hope you’re enjoying your holidays. In this week’s podcast I will share some of the recommendations contained in a report that was prepared by the Iowa Department of Management detailing the use and cost of Iowa’s 30 state tax credit programs. Then, I will discuss the Kentucky Housing Corporation’s announcement last week regarding its plans to collect tenant data on all projects that receive funding from the state housing agency. This is required by the Housing and Economic Recovery Act, or HERA. You remember HERA don’t you? It contained numerous enhancements to the LIHTC program and passed about a year and a half ago. With all that has been happening in the LIHTC equity markets, many forget about the significant LIHTC enhancements contained in HERA. For my final topic for the podcast this week I will review the most recent Recovery Act funding news from the Treasury Department, which announced last week that it had surpassed $4 billion in cash grants awarded to states in lieu of low-income housing tax credits.
Today is Tuesday, December 22nd, 2009. I am in Bangkok, Thailand today, for a tropical holiday vacation. We have many client transactions however yet to close this year, so the miracles of modern technology, combined with a strong team of professionals at Novogradac, allow us to provide the assistance our clients need to meet their yearend deadlines. This week I will discuss some highlights of the omnibus appropriations bill that President Obama signed on December 16th. The term “Omnibus Appropriations Bill” is Washington speak for the bills passed by Congress to approve the federal budget for various federal agencies. I will also share an update on the status of potential jobs legislation that I discussed in last week’s podcast. Then, I will review some plans for the NMTC program that CDFI Fund Director Donna Gambrell announced earlier this month. And finally, I will explain how corporate taxpayers receiving Section 1603 cash grants in lieu of renewable energy tax credits may be subject to the alternative minimum tax on such grants. Corporate taxpayers receiving Section 1602 cash grants in lieu of low-income housing tax credits could be facing a similar issue.
Today is Tuesday, December 15th, 2009. This week I will talk about jobs legislation being developed in Congress and more importantly the role that jobs legislation may play in expanding various community development tax credits. I will also share an update about the tax reform subgroup of the President's Economic Recovery Advisory Board. But first, I have several breaking news items. Regarding tax extenders legislation that we discussed in last week’s podcast, there is good news.
This week I will share the results of the Journal of Tax Credit Housing’s Developments of Distinction competition. These awards were created to honor outstanding achievement in the development of affordable rental tax credit housing. We announced the winners last week at the annual Las Vegas Novogradac Tax Credit Housing Finance Conference. This week I’ll also review a report that’ on the Recovery Act Job Creation. This job creation report was released a week ago, on November 30th, by the Congressional Budget Office. I will wrap up this week’s podcast with an update on the latest legislative developments of interest to the housing, community development and renewable energy communities in the area of legislation. Included in this update is breaking news about the low-income housing tax credit cash grant exchange program. It is, that’s right, it is part of the tax extenders legislation introduced by Ways & Means Chair Charlie Rangel.
In this week’s podcast I will discuss a proposal to amend the historic rehabilitation tax credit so that it can be used to redevelop the nation’s aging public schools. I will also review a measure introduced in the House that would create market-based incentives to increase the energy efficiency of federally assisted housing. Then I will share details of two legislative proposals related to renewable energy. The first would provide a tax credit for utilities to integrate more wind and solar into their energy portfolios. The second plan would double the amount of tax credits available for the Advanced Energy Manufacturing Tax Credit created by the Recovery Act and as detailed in Internal Revenue Code Section 48C. I will also share a quick update about objections raised by Senator Chuck Schumer last month regarding funds allocated to foreign companies under the Section 1603 renewable energy taxcredit program that provides cash grants in lieu of federal energy tax credits.
Today is Tuesday, November 24th, 2009. This week I have a lot of legislative updates to share. First, I will discuss tax extender and financial reform legislation. Second, I will follow up on last week’s discussion about renewable energy legislation. Third, I have news about legislation introduced last week to extend the carryback for the low-income housing tax credit. Then I will share some new markets tax credits news in our Project Profile Segment. And finally, I will review the initial description of a proposal to end state oversight of public housing in Hawaii.
Today is Tuesday, November 17th, 2009. This week I will look at a publication released last week by the Federal Reserve Board and the Federal Reserve Bank of St. Louis that features a collection of brief articles that examine innovative ways to revitalize the low-income housing tax credit market. I will also share news regarding the self-professed financial outlook for the Federal Housing Administration or FHA. FHA is the most important facilitator of debt for affordable rental housing today; as such, its financial health has a direct impact on the availability of affordable rental housing across America. Then, I will discuss two renewable energy topics. First, I will share details Senator Chuck Schumer’s request that the Department of Energy review all energy projects that have asked for funding under the Section 1603 cash grant program. That is the cash grant program that allows taxpayers to receive cash
Today is Tuesday, November 10th, 2009. This week I will touch on three affordable housing topics. First, I will share some of the highlights of a debate I participated in last week regarding the strengths of the low-income housing tax credit as compared to direct federal grants. Second, I will examine the findings of a recent report by the Congressional Budget Office that compared funding levels for rental housing with the funding levels for home ownership. And third, I will review a recent congressional hearing about HUD section 202 and 811 housing funding programs. Then, I will shift gears and discuss a proposal being considered in Missouri that would subject all state credits to an annual appropriations process. And finally, in our Project Profile Segment, I will highlight a recent new markets tax credit transaction in St. Louis, Missouri. This project combined new markets tax credits with public housing capital funds.
Today is Tuesday, November 3rd, 2009. This week I will provide an update on the progress of A.C.T.I.O.N. and the tax credit housing consensus proposals. I will also discuss two renewable energy topics. First, I will examine a recent Chief Counsel Advice or CCA document regarding grants under section 1603 of the Recovery Act. Then I will review the details of the recent allocation of $2.2 billion in new Clean Renewable Energy Bonds.
Today is Tuesday, October 27, 2009. This week I will share with you the names of the winners of the Novogradac Community Development Foundation’s Second Annual Community Development Awards, as well as the well-deserved recognition of the Federal Home Loan Bank’s Affordable Housing Program and three banks that received outstanding evaluations from the Office of the Comptroller of the Currency, or the OCC. I will also review a comment letter that the New Markets Tax Credit Working Group has submitted to the CDFI fund on the 2009 NMTC Allocation Application. Finally, I’ll discuss a recent audit of the tax-exempt private activity bond program and the details of several affordable housing and tax credit bills making their way through Congress.
This week I will discuss HUD’s proposal to conform its regulations to a 2008 law that prohibits the Federal Housing Administration from requiring that tax credit proceeds be escrowed in order to qualify for FHA insured loans. Then I will address tax extenders legislation and two expiring tax incentive programs: conservation easements and empowerment zones. And I will wrap up today’s 100th podcast with an outline of the Solar Energy Industries Association’s request for guidance on power purchase agreements, and a summary of a recently released study that found that a five-year carryback of LIHTCs, low-income housing tax credits, if enacted, would significantly increase LIHTC investment.
Today is Tuesday, October 13th, 2009. This week I will discuss the new difficult development areas and qualified census tracts that the U.S. Department of Housing and Urban Development designated last week. Then I will review HR 3715, that’s the Community Restoration and Revitalization Act of 2009, which was recently introduced in Congress and includes enhancements to the federal historic tax credit. And last, I have an update on the timing of the announcement by the CDFI Fund of its 2009 NMTC allocation awardees.
Today is Tuesday, October 6th, 2009. This week I will discuss the current legislative climate in Washington, D.C. and what’s in store for the low-income housing tax credit. Then I will review job reporting requirements for grantees under the Tax Credit Assistance Program. I will also share some of the comments submitted by the National Council of State Housing Agencies about the GSEs, namely Fannie Mae and Freddie Mac, and their duties to serve underserved markets. And, finally, I will discuss legislation that would allow more enlisted personnel stationed at U.S. military installations to qualify for low-income housing tax credit housing. But first there is breaking news about the state and federal response to recent flooding in the Atlanta, Georgia area.
On our podcast this week we will review recently released updated guidance regarding the IRS safe harbor for allocating Section 45 production tax credits among partners in a wind energy partnership. On a related subject, we will review the details of proposed legislation that would expand the existing Section 45L tax credit for builders of energy-efficient new homes to cover residential rental housing. We also will review an IRS request for public comment on a recent notice about the qualifying advanced energy tax credit under Section 48C that was created by the Recovery Act. Then, we’ll share updates from the Treasury Department about the housing and energy programs it administers under the Recovery Act. We also have related news from state housing agencies about their implementation of the Recovery Act’s programs. And finally, we’ll summarize the most recent round of bank evaluations conducted by the Office of the Comptroller of the Currency.
Today is Tuesday, September 22nd, 2009. This week we will talk about President Obama’s nomination of Michael F. Mundaca to be Treasury Assistant Secretary for Tax Policy. We will also discuss last week’s Financial Services Committee hearing on the Community Reinvestment Act as well as two related topics concerning financial regulatory reform. The two related topics are – one - the Federal Housing Finance Agency’s most recent proposal regarding Fannie Mae and Freddie Mac’s duty to serve underserved markets and – two - 10 key principles published last week that an industry-wide task force says will help the federal government maintain its critical role in the housing finance system. We’ll top off our housing discussion with a preview of the 16th Annual Affordable Housing Conference to be held in San Francisco next week. Then we will discuss a bipartisan congressional proposal to accelerate offshore drilling and use the government revenue from that drilling to extend several energy tax credits. And finally, we have an announcement regarding pending guidance related to the new markets tax credit and the Recovery Act. Let’s get started with the news of Michael Mundaca’s nomination to serve as Assistant Secretary for Tax Policy.
Today is Tuesday, September 15th, 2009. I am in Washington D.C. this week to attend a housing tax credit association board meeting and conference. I am also meeting with several members of Congress and their staff. This week we have breaking news about a proposal from the U.S. Department of Housing and Urban Development. The proposal is to discontinue, yes, discontinue, its hold harmless policy in calculating income limits for the Section 8 program. While the income limits for low-income housing tax credit and tax exempt bond properties wouldn’t be directly affected by this proposal, several other federal housing programs might feel the effect. This week we will also provide a summary of a mortgagee letter issued by the Department of Housing and Urban Development. This letter encourages the use of housing tax credits in combination with HUD FHA-insured loans. This week we will also present a quick update on the industry consensus group that formed to support the lowincome housing tax credit program. And finally, we’ll review the latest Recovery Act news. Let’s get started with our breaking news about HUD’s hold harmless policy.
Today is Tuesday, September 8th, 2009. I hope that all our listeners had a nice Labor Day holiday. This week we will examine the details of the awards made by Treasury last week under the Recovery Act’s Section 1603 program. Under the Section 1603 program, the Treasury Department provides cash grants in lieu of taxpayers claiming renewable energy tax credits. We will also detail the results of the 2009 low-income housing tax credit National Pool allocations. These were announced by the IRS on September 2nd. And finally we’ll discuss two announcements about tax credit funds. The first is an announcement from Advantage Capital about a fund it recently closed that is dedicated to investing in Illinois. The second fund was announced relates to Citi Bank and a debt and equity fund for investing in low-income housing tax credits. Now, let’s get started with our renewable energy discussion.
Today is Tuesday, September 1st, 2009. I am back in beautiful San Francisco. My family and I are back from our trip to Peru and the Galapagos Islands. This week we will review a recently released status update from the chairman of the CDFI Fund’s Community Development Advisory Board. Then we will review a report released last month that evaluates two housing programs funded by Proposition 1C, a $2.85 billion dollar California housing bond measure. But first, we have breaking news about the LIHTC exchange program.
Today is Tuesday, August 25th, 2009. I am in Central America this week, and I apologize in advance if the audio recording quality is not as good as usual. Next week I am back in the United States and the audio quality should improve. This week we have several major topics to cover. First, we will discuss the most recent edition of the Joint Center for Housing Studies’ annual report on the state of the nation’s housing. We’ll also examine a recent law approved in Oregon that sunsets all but four of the state’s tax credits. Then we will review the provisions of the Wind Energy Promotion Act. This measure was introduced in Congress last month and would make changes to the renewable energy production tax credit that would make more potential wind power projects financially feasible.
Today is Tuesday, August 18th, 2009. I am recording this podcast from Cusco, Peru. Apologies in advance if the recording clarity is not as good as usual. My family and I will be visiting Machu Picchu later this week. This week we have several major topics to cover. First, we will discuss the new 2.3 billion dollar Advanced Energy Manufacturing Tax Credit program. This program was officially opened for applications last week. We’ll also examine legislation introduced in the House of Representatives last month that would create new categories of tax-exempt private activity bonds for. These bonds would be for renewable energy projects. The legislation would also allow companies to use both taxexempt bond and federal tax credit financing on the same renewable energy project. Then we will review a report from the Congressional Budget Office that lists 66 ways for Congress to create more revenue. The options include changes that could significantly affect renewable energy and affordable housing. And finally, we will bring you an update from the Historic Tax Credit Coalition regarding its legislative and policy goals for the 111th Congress. Now, let’s get started with our renewable energy news.
Today is Tuesday, August 11th, 2009. This week we will review the Department of Energy’s recent announcement that billions of dollars in loan guarantees are available for renewable energy projects. Then we’ll examine the proposed 2010 fair market rents that were released last week by the Department of Housing and Urban Development. We will also review the improvements to the New York State Historic Preservation Tax Credit that were signed into law late last month. And finally, we will review the CDFI Fund’s request for comments on the allocation application for new markets tax credits. But first, we have a few breaking news items.
Today is Tuesday, August 4th, 2009. This week we have another update on the Tax Credit Assistance Program, also known as TCAP, and the tax credit exchange program, also known as the Section 1602 program. Then we will examine the new Section 48C Qualifying Advanced Energy Project Investment Tax Credit. We will also share some of the comments the NMTC Working Group is preparing to send to the CDFI Fund about its compliance guidance. And we have an update on last week’s discussion about the status of housing appropriations legislation. But first, we have two breaking news items.
Today is Tuesday, July 28th, 2009. This week we will review the status of the Housing appropriations bills being considered in Congress. Then we will share an update from the Treasury Department about the Build America Bonds program. We also have news from Fannie Mae about its multifamily financing activities through the first half of 2009. And finally, we will review a report about developments in the wind power market issued last week by the Department of Energy. But first, we have an update on guidance for the Section 1602 tax credit exchange program.
Today is Tuesday, July 21st, 2009. This week we will review the highlights of a Financial Services subcommittee hearing in the House of Representatives about preserving affordable housing. Then we will examine the latest proposal to codify the economic substance doctrine and we’ll discuss what that could mean for the tax credit community. And finally, we will summarize some of the many staffing changes that have happened at HUD. But first, we have an update on a topic from last week’s discussion regarding the Treasury Department’s guidance for the Section 1602 tax credit exchange program.
Today is Tuesday, July 14th, 2009. This week we have a lot of exciting developments to share. First, we have a summary of Treasury Department guidance for the Section 1602 low-income housing tax credit exchange program, as well as a summary of guidance for the Section 1603 grant exchange program for renewable energy investment tax credits. We will also update you on the status of proposed regulations for the new markets tax credit program regarding the new markets tax credit operating income redemption safe harbor as well as targeted populations. And finally, we will share information about the recent activities of the Novogradac LIHTC Working Group. Let’s get started with the highly anticipated Section 1602 LIHTC exchange guidance.
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.
Today is Tuesday, February 17th, 2009. This week we will discuss the final version of the economic recovery package that was signed by president Obama today.
Today is Tuesday, February 10th, 2009. This week we will share some of the highlights of the New Markets Tax Credit Investors Conference that Novogradac & Company hosted two weeks ago. We also have an update on the recent activities of the LIHTC Working Group.
Today is Tuesday, February 3rd, 2009. This week our focus will be the current status of the economic recovery bill that is being crafted by Congress. This legislation is significant in size and scope, and most likely will be passed with provisions that affect affordable housing, community development and renewable energy.
Today is Tuesday, January 27th, 2009. This week we will discuss the opening of the seventh round of NMTC allocation applications in more detail. We will also share an update about the financing of affordable housing developments in New York. A new equity fund was announced last week and we will share some of the details with you today. And as promised, we have the very latest news on the development of economic recovery legislation in Congress. Our first planned topic for this week is an update on a discussion from our January 13th podcast about the actions housing officials in New York are taking to address the recent shift in the low-income housing tax credit investment market.
Today is Tuesday, January 20th, 2009 and today marks the inauguration of the country’s 44th president, Barack Obama. As the eyes of the nation and the world are focused on our capitol today, it’s fitting that many of the topics planned for today’s discussion are also centered in Washington, D.C. This week we will discuss potential changes to the Troubled Asset Recovery Program, commonly referred to as TARP. We will also preview the comments that I will be making at the Treasury hearing this week on the proposed targeted population regulations.
Today is Tuesday, January 13th, 2009. This week I am recording the podcast from Washington D.C., where I am attending and speaking at the National Council of State Housing Agencies’ HFA Institute. During this week’s podcast, we will review some highlights from the Washington Wire panel I moderated at the Novogradac & Company annual conference of affordable housing developers held last week in Miami. We also have an update from the HFA Institute here in D.C.
Today is Tuesday, January 6th, 2009 and our first podcast of the year will focus on the latest developments surrounding the economic recovery bill that Congress plans to consider this month. We also have a summary of last month’s meeting of a subcommittee that was formed by the CDFI Fund to consider policy and program recommendations it might consider related to the impact of the current global financial crisis.
Today is Tuesday, December 23rd and this is the final Report on Tax Credits for 2008. Today we will discuss the current conditions in the housing tax credit equity investment market and what the future may hold for developers, investors and syndicators. We also have an update on proposals being suggested for inclusion in an economic recovery package.
Today is Tuesday, December 16th, 2008. This week we have two major topics. For our first topic we will review some of the revenue raising strategies, yes, I do mean tax increases, that Congress may consider in the coming year. We’re also going to evaluate how these possible tax increase will affect tax credit investors. For our second topic, we will discuss the testimony that I and others provided at an IRS hearing last Friday on proposed changes to the new markets tax credit regulations.
Today is Tuesday, December 9th, 2008 and this week we have some updates on the discussions in Washington about what should be included in the new economic stimulus package that will be considered when Congress reconvenes next month. We will also follow up on developments as some LIHTC allocating agencies and affordable housing developers work together to weather the current financial storm.
Today is Tuesday, November 25th, 2008 and this week we have the results of our informal survey to assess how many 2008 tax credit allocations have been returned by developers. We will also preview some of the key panels planned for our upcoming LIHTC conferences in Las Vegas and in Miami.
Today is Tuesday, November 18th, 2008 and this week we’ll discuss the latest news from President-elect Barack Obama’s transition team regarding the policies and players that will shape the incoming administration. We’ll also check in on developments in Congress as lawmakers in Washington continue to consider strategies for shoring up the sagging economy.
Today is Tuesday, November 11th, 2008 and this week we’ll discuss the impact that the results of last week’s election will have on affordable housing, community development, renewable energy and related matters. We all waited anxiously on November 4th as the nation set about to elect a new president as well as legislators to serve in the 111th United States Congress. Now that the results are in, let’s consider the overall results of the 2008 election.
Today is Tuesday, November 4th, 2008. This week we will review the hearing held last week by House Ways and Means Chairman Charlie Rangel regarding economic recovery and job creation. We will also profile the winners of the Novogradac Community Development Foundation Awards announced last month. But first, a note about today. Today is also election day throughout the nation. Democrats are expected to pick up a significant number of seats in both the House and the Senate, further solidifying their majorities in both houses. The presidential polls also show Obama with a substantial lead. If the polls are accurate, then the Democrats will have sizable majorities in the House, the Senate and will control the presidency. Next week, we will share some insights as to what Democratic control of the House, Senate and presidency will mean to those of us concerned about affordable housing, community development and renewable energy. If John McCain proves the pollsters wrong, and wins the presidency, then we will share our insights regarding the impact of divided government. With that said, we encourage everyone to vote today, and we look forward to our Election 2008 podcast next week, on Tax Credit Tuesday.
Today is Tuesday, October 28th, 2008. This week we will take a more in-depth look at the sixth round of new markets tax credit allocation awards we discussed last week. We will also review a list of some tax and accounting items that all LIHTC, low-income housing tax credit, developers should be considering as the end of the year approaches. But first, we have a couple breaking news items. Discussion among members of congress continues about the likelihood of another economic stimulus package.
Today is Tuesday, October 21st, 2008. This week we will discuss recent announcements by several state housing tax credit allocation agencies regarding adjustments they have made in response to changes in the tax credit equity market and changes related to not-so-recently-passed Housing and Economic Recovery Act of 2008 and the more-recently-passed Emergency Economic Stabilization Act of 2008. We will also preview some of the panel discussions that will be presented at our New Markets Tax Credit Investors conference later this week.
This week we will discuss details about the numerous energy tax credits that were included in the recently passed extender legislation. We also have an update on SB 585, a bill that was signed recently by Governor Arnold Scharzenegger that will allow the California state housing tax credit to be sold separately from the federal housing tax credit. Let’s start with our review of some of the recently-extended energy incentives that can be used by developments financed by new markets tax credits and low-income housing tax credits.
Today is Tuesday, October 7th, 2008. This week we will discuss proposed regulations regarding targeted populations under the new market tax credit program. We also have news about additional guidance from the IRS regarding certain provisions contained in the recently passed Low Income Housing Tax Credit Modernization Act.
Today is Tuesday, September 30th, 2008. This week we have an update on the fate of tax extender legislation. We will also share more news about how state housing tax credit allocating agencies are implementing the tax credit and bond changes made by the Housing and Economic Recovery Act of 2008.
Today is Tuesday, September 23rd, 2008. This week we’ll bring you up to speed on the current status of energy and new markets tax credit extension legislation. We will also discuss recent guidance from the Office of the Comptroller of the Currency, or OCC, which regulates national banks, regarding banks’ investments in solar tax credit projects. We will also share some highlights from an IRS survey that assessed the ability of tax-exempt entities that issue tax-exempt bonds to satisfy all applicable federal tax requirements both at the time of issuance and while the bonds remain outstanding.
Today is Tuesday, September 16th, 2008. This week we’ll consider what we can expect from Congress in the coming weeks regarding tax credit extension legislation. We will also discuss the status of SB 585, a bill that would allow the California state housing tax credit to be bifurcated and sold separately from the federal housing tax credit.
Today is Tuesday, September 9th, 2008. This week we’ll discuss the current status of NMTC applications and the expected award announcements. We will also share some updates on how state housing tax credit allocating agencies are implementing the LIHTC changes made by the Housing and Economic Recovery Act of 2008.
Today is Tuesday, September 2nd, 2008. This week we’ll review the status of NMTC and energy tax credit extension legislation in advance of Congress returning from its August recess. We will also discuss the progress of the Midwest Disaster Relief bill that was awaiting consideration last month. Before we start our discussion of these bills, we have an update about a question that has been raised in the low-income housing tax credit community about the Housing and Economic Recovery Act of 2008.
Today is Tuesday, August 26th, 2008. This week we’ll update listeners on the recent activities of the NMTC Working Group. We will also provide a profile a few of the panels that we have planned for the San Francisco LIHTC conference in early September. Finally, we’ll highlight some of the provisions in the Economic and Tax Recovery Act of 2008 that are of interest to the historic tax credit community. Let’s start this week’s discussion with a report on the recent activities of the NMTC Working Group.
Today is Tuesday, August 19th, 2008. This week we’ll review the updated NMTC regulations that the IRS released on August 8th. We’ll also discuss the New Markets Tax Credit Coalition’s 50 Projects - 50 States Project. Finally, we’ll talk about a recent finance agreement in Puerto Rico that the Department of Housing and Urban Development (HUD) describes as the largest single equity investment in the 22-year history of the Low-Income Housing Tax Credit program. I also have a reminder for affordable housing professionals who want to learn more about the impact of the momentous housing stimulus legislation that was enacted into law last month.
Today is Tuesday, August 12th, 2008. This week we’ll review policy changes that state housing finance agencies are making following the enactment of the Housing and Economic Recovery Act of 2008. We will also discuss the renewed focus on energy in Congress and what it means for renewable energy tax credits. Before we start today’s discussion, we have breaking news about the new market tax credit program. Last week the IRS issued the long awaited proposed amendments to the NMTC regulations. The amendments revise and clarify certain rules relating to recapture of the new markets tax credit. It also covers certain situations where you can now clearly rely on the reasonable expectations test. We will discuss them in more detail in next week’s podcast.
Today is Tuesday, August 5th, 2008. This week we will discuss the tax extender legislation that would renew the new markets tax credit and the renewable energy tax credits. Then, we will review the final rule released last week by the IRS regarding utility allowances in low-income housing tax credit properties. We also have news about investigations of Colorado’s conservation easement tax credit program.
Today is Tuesday, August 5th, 2008. This week we will discuss the tax extender legislation that would renew the new markets tax credit and the renewable energy tax credits. Then, we will review the final rule released last week by the IRS regarding utility allowances in low-income housing tax credit properties. We also have news about investigations of Colorado’s conservation easement tax credit program. Before we address today’s topics, however, we’d like to invite you to sign up for a webinar that Novogradac & Company will host next week.
Today is Tuesday July 22nd, 2008. This week we will discuss the latest legislative wrangling surrounding the tax extenders legislation. But first, let’s start our discussion with an update on the housing stimulus bill.
Today is Tuesday July 15th, 2008. This week we will discuss the status of the housing stimulus legislation being considered in Congress. We will also examine the provisions of a tax relief measure designed to help Midwestern states that have been ravaged this year by floods and severe storms. Let’s start this week’s discussion with an update on the housing stimulus bill.
Today is Tuesday July 8th, 2008 and this week we will discuss affordable housing news from California as well as historic tax credit news from New York. We’ll also provide the latest news about disaster relief being provided by the Internal Revenue Service for victims of the severe storms and flooding in the Midwest. But first, breaking news on the housing stimulus bill.
Today is Tuesday, July 1st, 2008 and this week we will discuss the highlights from the National Council of State Housing Agencies’ tax credit conference held in Miami last week. We also have updates on the ongoing legislative efforts to enhance the low-income housing tax credit and to extend certain energy tax credits.
Today is June 24th, 2008 and this week we will discuss highlights from Novogradac New Markets Tax Credit Conference that was held in Washington, D.C. a week and a half ago. We will also explain how to nominate individuals or investments for the Community Development Awards that the Novogradac Community Foundation will present this fall.
Today is June 17th, 2008 and this week we will discuss the Affordable Housing Tax Credit Awards for Excellence that were presented in Washington DC last week. We will also share news from the American Wind Energy Association conference earlier this month. We had also originally planned to discuss last week’s Novogradac New Markets Tax Credit Conference, but we postponed that discussion until next week’s podcast.
Today is June 10th, 2008 and this week we will discuss Steve Preston’s confirmation as the new HUD Secretary and share highlights of the Senate Banking committee hearing regarding his nomination. We also have an update for listeners about the latest developments in the effort to re-open Ohio’s historic tax credit program.
Today is June 3rd, 2008 and this week we will discuss legislation introduced in Congress that would allow more lowincome members of the armed forces to qualify to live in tax credit financed rental housing. We will also examine changes to the state historic tax credit program approved recently in Georgia, and we’ll discuss American Samoa’s first steps toward participation in the federal low-income housing tax credit program. Finally, we’ll share some statistics on the audit status of the new market tax credit program.
Today is May 27th, 2008 and this week we will review a recent ruling from the IRS that provides guidance on structuring renewable energy tax credit transactions. But first, let’s discuss the current status of the housing stimulus bill and the tax extender legislation, both of which are making their way through Congress.
This week we will review key points of HUD’s 2008 Super NOFA. But first, let’s discuss the progress that tax extender and housing stimulus legislation are making in Congress.
Today is May 13th, 2008 and this week we will discuss the challenges of preparing market studies in light of the HUD AMGI revisions. We’ll also update you on the status of legislation introduced in California to allow the California state housing tax credit to be bifurcated from the federal low-income housing tax credit. Also, as a reminder, it is not too late to register for our New Orleans conference. We have a Washington Wire panel where we will discuss the details of the LIHTC modernization bill, which is the most significant LIHTC legislation in nearly a decade. I hope to see you there, the conference is later this week.
This week we will share an update on the recent activity of the New Market Tax Credit Technical Working Group. We will also review the bonus depreciation provisions included in the Senate’s Foreclosure Prevention Act.
In this week’s podcast we will review the details of the Neighborhood Stabilization Act of 2008, legislation being discussed in the house that would create a 15 billion dollar, HUD-administered loan and grant program for the purchase and rehabilitation of owner-vacated, foreclosed homes. This week will also discuss the approximate size of the 2008 low-income housing tax credit equity market and the key dynamics at play in determining the pricing for low-income housing tax credits. This podcast is presented each week by Novogradac & Company LLP, a national accounting and consulting firm that specializes in the fields of affordable housing, community development and renewable energy. We encourage you to learn more about our firm by visiting us online at www.novoco.com.
This week we will discuss the developments at the state level regarding several tax credit programs, including Rhode Island’s Historic Tax Credit Program, Ohio’s historic preservation tax credit and Missouri’s state low-income housing tax credit. We will also review new reports in the media about the effect that the credit crisis is having on the development of affordable housing throughout the country. But first, we have several breaking news items to share. First, the White House last week announced President Bush’s choice to replace former HUD Secretary Alphonso Jackson who resigned earlier this month.
This week we will discuss the status of housing stimulus legislation, particularly a number of provisions being considered to enhance the low-income housing tax credit. We will also share some new information that we’ve learned about HUD Area Median Gross Income calculations and how this new information will affect the operation of LIHTC properties. Finally, we will review the findings of a national review of green building criteria for LIHTC projects. This podcast is a bit longer than our normal broadcasts as we wanted to be sure to give detailed attention to the enhancements to the low-income housing tax credit that passed the Ways and Means Committee in the U.S. House of Representatives last week.
This week we will discuss the status of low-income housing tax credit, energy and new markets tax credit legislation, as well as the status of Treasury regulations for the new markets tax credit and LIHTC programs. Our first topic this week is the status of housing, energy and NMTC legislation.
This week we focus on tax credit topics developing at the state level. We’ll review how the Colorado Housing Finance Agency is responding to the changes in the LIHTC equity market. We’ll review why the affordable housing community in New York is concerned about recent developments in the state’s prevailing wage law, and we’ll review what a proposal to alter the state historic tax credit could mean for community development in Rhode Island.
This week we will discuss a draft of legislation being circulated in Congress that would coordinate the use of HUD programs with the low-income housing tax credit.
This week we will discuss policy modifications that some state housing agencies are considering to address the volatility in the LIHTC equity market. We’ll also consider what effect the changes in the price of housing tax credits could have on the prices of new markets tax credits. Finally we’ll share reports from the field regarding the impact that turbulence in the debt market is having on affordable rental housing.
This week we will discuss key compliance dates for new market tax credit applicants, we’ll also review more information about the status of the low-income housing tax credit modernization bill, and provide an update on the current range of pricing for housing tax credits.
This week’s discussion will focus on two topics: the current efforts in Congress to craft and pass a Housing Stimulus Bill, and a report published last month that examines the leverage measures used by programs such as the Low-Income Housing Tax Credit and the New Markets Tax Credit.
Today in the Novogradac Report on Tax Credits, we’ll focus on two topics: additional analysis on the effect of HUD’S 2008 income limits on low-income housing tax credit properties, and second, the current status of legislation to modernize the housing tax credit.
Today in the Novogradac Report on Tax Credits, we’ll focus on two topics: First, we’ll touch on a recent Senate hearing about reforming the housing GSEs, or government sponsored entities, and we’ll share with you news about their investments in affordable housing last year. Then we will review some details of Clean Renewable Energy Bond financing that the IRS announced last week.
This week we’ll examine the federal funding suggestions featured in the Bush Administration’s final budget proposal for 2009.
This week we’ll replay some of the highlights of CDFI Fund Director Donna Gambrell’s keynote address at Novogradac’s New Markets Tax Credit Conference in San Diego a couple of week ago.
This week’s discussion focuses on what the community development, affordable housing and renewable energy communities might see included in the economic stimulus package being crafted by Congress.
I will discuss three different topics during this week’s podcast. First, I will recount the highlights of the Washington Wire panel discussion that kicked off the 14th Annual Tax Credit Developers Conference earlier this month in Miami. Then, I will report on the impact that the subprime loan crisis has had on the debt markets, interest rates and underwriting terms. Finally, I will review some important points from the CDFI Fund’s new markets tax credit applications workshops.
This week’s installment will focus on three subjects. First, we’ll review the status of tax credit legislation that failed to pass last year, and consider the likelihood that it can pass this year. Second, we will discuss the deadlines that must be met by groups applying for new markets tax credits in the current allocation application round. And finally, we will report on the range of prices being paid for low-income housing tax credits.
This week’s podcast will feature two topics. First, we’re going to bring you an update on guidance from the IRS on its new tax preparer penalty rules. Second, we’re going to discuss the significance of a change to Section 470 that was included in a technical corrections measure signed into law by President Bush late last month. Section 470 limits the ability of taxpayers to deduct losses allocable to property used by governments or other tax-exempt entities.
Today’s podcast will feature three topics of the week. First, we will review the current status of the Internal Revenue Service’s project to update the new markets tax credits regulations. Next, we will examine state tax credits that can be generated by donating conservation easements and review recent investigations into possible abuse of these programs Third, we’ll bring you up to speed on the energy tax bill that was passed by Congress last week.
Today’s podcast will feature two topics of the week. We will first take a look at the use of tax-exempt bonds in new markets tax credits transactions. Next, we will provide a summary of state historic tax credit programs and take a quick look at Ohio’s historic tax credit program, as it recently announced the first round of awards.
Our first report of December focuses on two topics of the week. First we will review projected key dates for new markets tax credit professionals, including when we expect debriefing letters to be sent, when recent awardees can expect to start seeing allocation agreements, and when the CDFI Fund is expected to release the upcoming Notice of Allocation Availability or NOAA. Second, we will examine new rules for tax preparers and the effect they will have on affordable housing and community development entities.
This week we’re going to cover three issues: as promised last week, my first order of business will be to say a few words of welcome on the appointment of the new CDFI Fund Director, Donna Gambrell. Next we’ll take a look at the presidential candidates’ stances on renewable energy production and investment tax credits. Finally we’ll update you on the recent exchange of letters with the Securities Exchange Commission and the impact of these letters on the audit and other operating costs of LIHTC partnerships.
This week we’re going to cover three issues: as promised last week, my first order of business will be to say a few words of welcome on the appointment of the new CDFI Fund Director, Donna Gambrell. Next we’ll take a look at the presidential candidates’ stances on renewable energy production and investment tax credits. Finally we’ll update you on the recent exchange of letters with the Securities Exchange Commission and the impact of these letters on the audit and other operating costs of LIHTC partnerships.
This week we’re going to cover three issues: first, in the aftermath of the California wildfires, we felt it was a good time to review the authority state allocating agencies have to provide temporary relief for owners of low-income housing tax credit properties. Second we’ll look at the status of legislation to extend the new markets tax credit through 2009. Third, we’re going to look at the status of efforts to extend renewable energy tax credits.
This week we’re going to cover three issues. First, the qualified contract proposed regulations, including a discussion of the hearing that was held on Monday, October 15th, 2007. Next we’ll discuss the recently released list of Difficult to Develop Areas for 2008. And, third, we’ll preview the upcoming Novogradac report on the impact of revised area median gross incomes that were released by HUD earlier this year.
The First Tax Credit Tuesday Podcast Presents: CDFI Fund Director Kimberly Reed's Keynote Address at the New Markets Tax Credit Investors Conference