In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses President Obama's State of the Union address, the fiscal year 2015 budget and another call from lawmakers for tax extenders legislation. In low-income housing tax credit news, he shares a letter that 33 Democratic senators sent to Federal Housing Finance Agency Director Mel Watt asking Watt to begin contributing to the National Housing Trust Fund and the Capital Magnet Fund, as well as a proposed state low-income housing tax credit in Colorado. In historic tax credit news, he shares a report from an Oregon historic preservation advocacy group that shows the impact a state historic tax credit could have for cities and towns throughout the state. In renewable energy tax credit news, he discusses calls for production tax credit and investment tax credit extensions from the Advance Energy Economy and the Center for the New Energy Economy at Colorado State University, and a report from the Solar Foundation that cites the number of jobs created by the solar industry and how they could be affected by an end to the investment tax credit. In new markets tax credit news, he shares news about an additional sponsor for the Manufacturing Communities Investment Act, which would extend the new markets tax credit program through 2016 and released guidelines for Arkansas's new markets tax credit program.
