August 2, 2016

In this week's Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, starts off with the general news section where he talks about the recently approved 2016 Democrat Party platform, how it compares to the Republican platform and what those priorities could mean for affordable housing, community development and renewable energy. In the low-income housing tax credit section, he shares an update on the Housing Opportunity through Modernization Act of 2016 (H.R. 3700), which President Barack Obama recently signed into law and will modify several housing programs, including Section 8 and public housing. Then, he talks about a new tool released by the Urban Institute and the National Housing Conference that shows why the low-income housing tax credit is crucial to building affordable housing. In new markets tax credit news, he discusses the Rebuilding and Renewing Rural America Act (S. 3243), a recently introduced bill that would double new markets tax credit allocation authority to $7 billion annually for the next three years. In the historic tax credit section, he shares an updated resource from the National Trust that could help historic tax credit advocates illustrate how effectively the federal historic tax credit creates jobs and generates revenue in each state. And he closes out with renewable energy tax credit news, where he discusses how Louisiana's solar energy system tax credit reached its allocation cap early.