In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, starts off the general news section by talking about the T-HUD appropriations bill passed by the House Appropriations Committee last week. In the low-income housing tax credit section, he shares a Chief Counsel Advice Memorandum from the IRS and what it says about conflicting tenant income requirements among different programs. Then, he discusses a report from HUD on the relationship between state qualified allocation plans and the location of low-income housing tax credit properties. Next, he addresses two news items from Missouri: One is about a low-income housing tax credit assessment bill and the other is a proposed change that could help increase housing options for survivors of domestic violence. Also in state news, he discusses a memo that would clarify application requirements for California redevelopment agencies that financed state low-income housing tax credit properties. In new markets tax credit news, he shares the latest Qualified Equity Investment Issuance or QEI report. He also discusses which governor last week vetoed a bill that would have created a New Markets Tax Credit program in his state. In historic tax credit news, he shares an update on historic tax credit guidance that may be released this summer concerning income inclusion and partnership income. He also summarizes a bill that would allow counties and cities to create their own historic preservation incentives in North Carolina. He then outlines Georgia's newly expanded state historic tax credit. In the renewable energy tax credit section, he reports on a state bill that is designed to make renewable energy investments more attractive in Colorado.
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