In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news, where he provides a brief look at the presidential primary races. Then, he reviews a recently released memo from the IRS Office of Chief Counsel, which provides additional indications as to how the IRS views certain carve-out guarantees of otherwise nonrecourse partnership loans. In the low-income housing tax credit section, he outlines the bill that the Senate Appropriations Committee last week approved regarding funding for transportation and HUD in fiscal year 2017. After that, he discusses how two Louisiana state bills could change the way property taxes for low-income housing tax credit developments are calculated. In new markets tax credit news, he talks about the CDFI Fund’s exciting announcement that $7 billion of new markets tax credit allocation authority will be awarded later this year. In the historic tax credit section, he discusses why efforts to extend the state historic tax credit in Alabama may have hit a wall, despite being passed in one chamber of the legislature by a vote of 91-4. And he closes out with renewable energy tax credit news, where he talks about how certain technologies “orphaned” by last year’s energy investment tax credit extension might find another legislative vehicle before the end of the year.