In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, talks about the federal debt ceiling and why Treasury Secretary Jacob Lew is urging Congress to raise the debt limit as soon as possible. He also discusses updated consolidation guidance from the Financial Accounting Standards Board, and shares information about a new bill that was introduced to promote public-private partnerships in social enterprises. In affordable housing news, he shares key information about the release and implementation of HUD’s fiscal year 2015 income limits. Then, he provides details on a new proposal package in California that would increase the annual state low-income housing tax credit cap by $300 million. In new markets tax credit news, he shares a Senate bill (S. 591) that was introduced to make the new markets tax credit a permanent part of the tax code. Then, he talks about how listeners can comment on the CDFI Fund’s proposed annual assessment for the CDFI Bond Guarantee program. He announces a nominations deadline extension for the Novogradac Journal of Tax Credits Community Development Individual Achievement Awards. In historic tax credit news, he reviews the National Park Service’s annual report on the federal historic tax credit. In state-level news, he talks about a second chance for California to have its own state historic tax credit program. He closes with the renewable energy tax credit section, in which he addresses a budget proposal in Louisiana that could scale back several of the state’s tax credit programs, including its wind and solar tax credit. He also discusses how North Carolina’s renewable energy investment tax credit is proving to be a sound investment.
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