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 Investment Issuance Report and the likely reason there was $793 million in investments finalized in January. In historic tax credit news, he talks about a proposed $10 million annual cap on Wisconsin’s state historic tax credit. Then he’ll discuss what North Carolina’s governor is doing to re-establish a state historic tax credit after the previous state credit expired in December. In the renewable energy tax credit section, he discusses the IRS soliciting allocation applications for about $1.3 billion in new clean renewable energy bonds, or New CREBs.
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