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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 NM

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 fa'ade 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 an expansion 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 about changes 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 new research 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 suggestions for 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 placed in 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 on the 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 credit programs 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 Obama administration 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.