Novogradac & Company Llp

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 W

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

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 a

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

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

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

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 l

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 inve

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 secti

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 c

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 w

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

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

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 r

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

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, a

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 cr

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 cre