In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off with a discussion about the status of the House Transportation, Housing and Urban Development funding bill for fiscal year 2016 and why both House and Senate leadership may consider legislation to increase spending caps. In the low-income housing tax credit segment, he provides updates on a handful of California affordable housing bills, including one that could increase the amount of state low-income housing tax credits by $300 million per year. Then, he shares an opportunity for listeners to learn or get a refresher on what they need to know about determining low-income housing tax credit eligible basis. In new markets tax credit news, he highlights the new markets tax credit allocations for the 2014 funding round. Then, he discusses what the New Markets Tax Credit Coalition learned about program investments in the past year through its annual progress report. Following that, he shares some highlights from our Novogradac New Markets Tax Credit Conference in Washington, D.C. last week. After that, he shares how listeners can nominate their favorite projects for a Novogradac Journal of Tax Credits Community Development Qualified Low-Income Community Investments Award. In historic tax credit news, he addresses the latest progress on a legal debate about what fully constitutes a historic tax credit partnership. Then, he tells listeners about how a widely successful state historic tax credit program is in danger of being discontinued. Then, in the renewable energy tax credit section, he talks about a recent private letter ruling and what it said about reflective roofs as energy property, making them potentially eligible for the federal investment tax credit.