March 27, 2012

Michael J. Novogradac, CPA, discusses the House Republicans' proposed fiscal year 2013 budget, an upcoming hearing on tax extenders and a possible delay in the implementation of the Volcker Rule. Then, he discusses CDFI Fund guidance about serving targeted populations and examines the most recent QEI Report. Next, he previews a hearing about the effect of pending expirations of tax incentives on the renewable energy industry, and discusses recent questions raised about the jobs created by the Section 1603 cash grant program. In the low-income housing tax credit section of this week's podcast, he reviews the topics covered in the most recent issue of the IRS's LIHC Newsletter. He also discusses a recent court case in Texas that could have significant implications for the low-income housing tax credit community in that state, and possibly beyond. He also shares an announcement from the USDA about its Section 538 program, and a comment invitation from HUD regarding private-public partnerships used for mixed-finance development of public housing units. Finally, in the historic tax credit discussion, he shares a state-level update on legislation recently passed in Virginia.