Novogradac & Company Llp

Congressional Calendar Preview; 8th Round of NMTC Applications; 1603 Grants Exempted from California Income Tax; Proposed 30 Percent Biomass Tax Credit; AWEA's Annual Wind Industry Market Report

Congressional Calendar; IRS Relief for Storm and Flood Victims; Historic Tax Credit News from Minnesota, Missouri and Kansas; Recovery Act Guidance from TCAC; Build America Bond Update

Updated Section 1603 Guidance; Governors' Support for Renewable Energy Tax Credits; Housing Preservation Legislation; Changes to Oregon's BETC and New York's Historic Credit; Population Updates for the LIHTC; CDFI Fund's Annual Report; Capital Magnet Fund News

Legislative Update; IRS Guidance on Section 1602; Report on FHLB of Atlanta's Affordable Housing Program; Iowa State Tax Credit News

Tax Extenders and Jobs Bills; Capital Magnet Fund; Timing of 8th NMTC Round; Smart Grid Investment Grant Guidance

Tax Extenders Bill; Healthy Food Financing Initiative; Freddie Mac's 2009 Financial Results; Eligibility of Geothermal Projects for Section 1603

Proposal to Extend, Enhance the NMTC; Renewable Energy Expansion Act; Housing Goals for Fannie Mae, Freddie Mac

NMTC Data Collection Plan; NMTC Cure Period PLRs; Jobs Legislation in Congress

Tax Extenders Legislation; Renewable Energy Bills Introduced; Calif. AB 2640; LIHTC Tenant Data Collection

Response to GAO's Recommendations for the NMTC; Detailed Review of 2011 Budget Proposals for Affordable Housing, Community Development and Renewable Energy

Rehabilitation of Historic Schools Act; GAO's Report on NMTC Program; Proposed Federal Budget Freeze; Update on State Tax Credits; Green Building Incentives in QAPs

Congressional Update; Financial Crisis Responsibility Fee; Capital Magnet Fund; 2008 LIHTC Utilization Figures

HFA Initiative; Accounting Guidance for Tax Credit Investors; Report on Community Wind and the Recovery Act; Treasury FAQs for Section 1603; Iowa State Tax Credit Review; JCT Tax Expenditure Estimates

Breaking News Roundup; FASB Guidance on Book Consolidation Issues; Disguised Sale Case; Congressional Concerns about Section 1603 Program

Michael J. Novogradac, CPA, take a look at the year 2010 in review for the low-income housing tax credit, new markets tax credit, renewable energy tax credits and historic tax credits. He also discusses a little of what lies ahead for these tax credits in 2011.

Today is Tuesday, December 29th, 2009. This week I bring you greetings from Chiang Mai, Thailand. This is the last podcast of the year, and I hope you're enjoying your holidays. In this week's podcast I will share some of the recommendations contained in a report that was prepared by the Iowa Department of Management detailing the use and cost of Iowa's 30 state tax credit programs. Then, I will discuss the Kentucky Housing Corporation's announcement last week regarding its plans to collect tenant data on all projects that receive funding from the state housing agency. This is required by the Housing and Economic Recovery Act, or HERA. You remember HERA don't you? It contained numerous enhancements to the LIHTC program and passed about a year and a half ago. With all that has been happening in the LIHTC equity markets, many forget about the significant LIHTC enhancements contained in HERA. For my final topic for the podcast this week I will review the most recent Recovery Act funding news from the Treasury De

Today is Tuesday, December 22nd, 2009. I am in Bangkok, Thailand today, for a tropical holiday vacation. We have many client transactions however yet to close this year, so the miracles of modern technology, combined with a strong team of professionals at Novogradac, allow us to provide the assistance our clients need to meet their yearend deadlines. This week I will discuss some highlights of the omnibus appropriations bill that President Obama signed on December 16th. The term "Omnibus Appropriations Bill" is Washington speak for the bills passed by Congress to approve the federal budget for various federal agencies. I will also share an update on the status of potential jobs legislation that I discussed in last week's podcast. Then, I will review some plans for the NMTC program that CDFI Fund Director Donna Gambrell announced earlier this month. And finally, I will explain how corporate taxpayers receiving Section 1603 cash grants in lieu of renewable energy tax credits may be subject to the alternative mi

Today is Tuesday, December 15th, 2009. This week I will talk about jobs legislation being developed in Congress and more importantly the role that jobs legislation may play in expanding various community development tax credits. I will also share an update about the tax reform subgroup of the President's Economic Recovery Advisory Board. But first, I have several breaking news items. Regarding tax extenders legislation that we discussed in last week's podcast, there is good news.

This week I will share the results of the Journal of Tax Credit Housing's Developments of Distinction competition. These awards were created to honor outstanding achievement in the development of affordable rental tax credit housing. We announced the winners last week at the annual Las Vegas Novogradac Tax Credit Housing Finance Conference. This week I'll also review a report that' on the Recovery Act Job Creation. This job creation report was released a week ago, on November 30th, by the Congressional Budget Office. I will wrap up this week's podcast with an update on the latest legislative developments of interest to the housing, community development and renewable energy communities in the area of legislation. Included in this update is breaking news about the low-income housing tax credit cash grant exchange program.' It is, that's right, it is part of the tax extenders legislation introduced by Ways & Means Chair Charlie Rangel.

In this week's podcast I will discuss a proposal to amend the historic rehabilitation tax credit so that it can be used to redevelop the nation's aging public schools. I will also review a measure introduced in the House that would create market-based incentives to increase the energy efficiency of federally assisted housing. Then I will share details of two legislative proposals related to renewable energy. The first would provide a tax credit for utilities to integrate more wind and solar into their energy portfolios. The second plan would double the amount of tax credits available for the Advanced Energy Manufacturing Tax Credit created by the Recovery Act and as detailed in Internal Revenue Code Section 48C. I will also share a quick update about objections raised by Senator Chuck Schumer last month regarding funds allocated to foreign companies under the Section 1603 renewable energy taxcredit program that provides cash grants in lieu of federal energy tax credits.