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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, a

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 proper

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 s

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 M

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 Se