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.