Novogradac & Company Llp

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 en

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

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

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 escape

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 p

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 sys

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 M

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,

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 market

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

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 Qual

In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with a discussion on legislation that would increase the annual issuance limit for issuers of bankqualified bonds. In the affordable housing section, he shares news about the latest efforts to establish a minimum rate for the low-income housing tax credit and how that bill could be a game-changer for the industry. Then, he discusses another piece of legislation that would provide additional funding for public housing and address a backlog of capital needs. After that, he outlines new exclusions from caps that are set for Fannie Mae and Freddie Mac new multifamily business. In new markets tax credit news, he talks about what Sen. Ben Cardin from Maryland sees as the role of the new markets tax credit in revitalizing the city of Baltimore. In the same section, he names the eight communities recently designated as "promise zones" by the Obama administration. In historic tax credit news, he talks about a private letter ruling from the W

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

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 t

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 sectio

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 re

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 preserv

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. H

'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 talk