Podcast
Tax Credit Tuesday Podcasts
Hosted by Novogradac & Company LLP · EN
Each Tax Credit Tuesday, the Novogradac audio broadcast offers an in-depth weekly look at tax credit topics. A new episode is posted here and on the RSS Feed by 1 p.m. Pacific Time every Tuesday.
48episodes
Episodes
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March 3, 2026: The Market MACR Playbook: Who Wins in the FEOC Era?
Mar 3Tap to summarizeThe One Big Beautiful Bill Act (OBBBA), approved July 4, 2025, implemented a number of restrictions regarding foreign entities of concern (FEOC). In this episode of the Renewable Energy Tax Credit Finance Series, Novogradac partners Tony Grappone, CPA, and Joshua Morris, CPA, discuss those changes and their implications for various stakeholders in the clean energy space. They discuss the similarities and differences of the new FEOC restrictions to domestic content. Grappone and Morris then give a detailed review of the restrictions and the issues surrounding them, such as safe harbor provisions. The episode concludes with a series of rapid-fire questions developers, manufacturers and investors in the clean energy sector may have.
Transcribe →Feb. 24, 2026: Opportunity Zones: What’s Coming Next?
Feb 24Tap to summarizeThe One Big Beautiful Bill Act (OBBBA), approved July 4, 2025, made the opportunity zone (OZ) incentive permanent and made several significant changes to the program. One key change is that, effective Jan. 1, 2027, each state will designate new OZs. On this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Jason Watkins, CPA, discuss these changes and how they will impact tax incentives and eligibility criteria for qualified OZ investors. Novogradac and Watkins explain where the program stands and discuss a variety of issues that require guidance or clarification from the U.S. Department of the Treasury, including the designation of new census tracts. The pair also discuss how Treasury will implement the transition from OZ 1.0 to OZ 2.0. Finally, Novogradac and Watkins discuss the various efforts of the Novogradac OZ Working Group to highlight potential issues and offer recommendations for implementation guidance in the form of three letters to Treasury.
Transcribe →Feb. 09, 2026: Are HTCs Right for Your Project? Key Considerations for First-Time Developers
Feb 10Tap to summarizeThe Historic Tax Credit (HTC) is a significant resource for developers hoping to rehabilitate historic properties, but nuances of the incentive, such as eligibility requirements and the closing process, can be intimidating for first-time developers. On this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner John DeJovine, CPA, provide listeners a crash course in HTCs. The pair discuss gating issues developers may encounter in deciding whether to use HTCs. Novogradac and DeJovine also discuss various factors to consider throughout an HTC transaction, including how much equity might come from federal HTCs, subordination and non-disturbance agreements (SNDAs) and what counts as qualified rehabilitation expenditures (QREs). Fittingly, the two close the episode by reviewing the process of closing an HTC deal, from deal structuring to the developer's eventual exit.
Transcribe →Feb. 3, 2026: 25% Test Implementation: Recycled Bonds, Taxable Tails and Other Ways to Close the Financing Gap
Feb 3Tap to summarizeThe One Big Beautiful Bill Act (OBBBA), approved July 4, 2025, made various significant changes to the low-income housing tax credit (LIHTC) incentive. Among key changes, the OBBBA lowered the threshold for private activity bond (PAB) financing required to qualify for 4% LIHTCs from 50% of a development's land and building costs to 25%. On this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Dirk Wallace, CPA, explore how this change is affecting financing for affordable housing development. Novogradac and Wallace provide an overview of the 25% test and PABs, including recycled PABs. The pair also discuss how states are implementing the 25% financed-by test, as well as the ways developers are overcoming the financing gap the new test created. Finally, Novogradac and Wallace conclude by discussing how to maximize net operating income (NOI) by approaching operating expenses as efficiently as possible.
Transcribe →Jan. 27, 2026: LIHTC Rental Income and Expenses: What Data Tells Us About Trends in Affordable Housing
Jan 27Tap to summarizeRental income and operating expenses for low-income housing tax credit (LIHTC) properties have seen significant increases over recent years. On this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Kelly Gorman review the 2025 Novogradac Low-Income Housing Tax Credit Income and Operating Expenses Report, which provides an in-depth look at 2024 rental income, operating expenses and net operating income for LIHTC properties tracked by Novogradac. Novogradac and Gorman provide their perspective on the relationship between rental income and operating expenses, as well as annual and compound annual growth rates. The two then discuss the two largest operating income expenses, which were property insurance and repairs and maintenance, and how to handle those expenses in the underwriting and budgeting process.
Transcribe →Jan. 20, 2026: Action, Advocacy Important for Federal Tax Credit Legislation in 2026
Jan 20Tap to summarizeSeveral major legislative changes rocked the tax credit world, last year. Key developments such as the One Big Beautiful Bill Act (OBBBA) will shape the tax credit landscape in 2026 and beyond. On this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac's Chief Public Policy Officer Peter Lawrence explore the current state of tax credit legislation and what may be on the horizon for 2026. Novogradac and Lawrence discuss various tax incentives, including the historic tax credit, the Neighborhood Homes Investment Act and the HOPE Act. The pair also discuss two "bonus" tax incentives that potentially may be on the horizon, the workforce housing tax credit and the Downtown Revitalization and Main Streets Act. Finally, the two discuss banking-related bills such as the ROAD to Housing Bill and the Housing for the 21st Century Act, which may grant banks the ability to invest more in new construction and preservation developments.
Transcribe →Jan. 13, 2026: Takeaways from Record-Setting $10 Billion NMTC Allocation Authority Awards Round
Jan 13Tap to summarizeThe Community Development Financial Institutions (CDFI) Fund announced the awarding of $10 billion in new markets tax credit (NMTC) allocation authority Dec. 23, 2025, 'for the combined 2024-2025 allocation round, a record-breaking amount of aggregate issuance authority that led to a record-breaking number of awardees. On this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partners Brad Elphick, CPA, and Rebecca Darling, CPA, discuss the key aspects of this round that made it significant and theorize what changes might come to NMTC allocation in the future. The three also discuss the reasons why the CDFI Fund's announcement was delayed, and how that might impact the timeline of the 2026 application round.
Transcribe →Jan. 6, 2026: Why PHAs Are Considering RAD Now More Than Ever
Jan 6Tap to summarizePublic housing authorities (PHAs) are increasingly finding that common funding opportunities such as U.S. Department of Housing and Urban Development (HUD) financing is not meeting their operational or capital needs. With recent policy changes on the horizon that will further drain PHA resources, many are turning to programs such as Rental Assistance Demonstration (RAD). On this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Rich Larsen, CPA, give a crash course on the RAD program and discuss how PHAs can utilize RAD to support their public housing developments. The pair also discuss how to most effectively utilize tax credit equity, such as low-income housing tax credit (LIHTC) equity, in RAD transactions.
Transcribe →Aug. 26, 2025: A Deeper Dive into Opportunity Zones 2.0
Aug 26Tap to summarizeThe One Big Beautiful Bill Act (OBBBA), signed into law July 4, made the opportunity zone (OZ) incentive a permanent part of the Internal Revenue Code. In this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Jason Watkins, CPA, review the changes to OZs instituted by the OBBBA. They explore the Opportunity Zones (OZ) 2.0 Mapping Tool, which Novogradac launched Aug. 19. Novogradac and Watkins also discuss the emphasis on investing in rural areas for the next set of OZs, nominations which begin July 1, 2026. Finally, the pair the new reporting requirements for OZs and the upcoming "dead zone" for investments, which is projected by some to occur next year.
Transcribe →Aug. 19, 2025: So You Want to Be a LIHTC Developer: Understanding Nuances of Partnerships in Raising LIHTC Equity, Part Two
Aug 19Tap to summarizePartnerships provide a mutually beneficial legal structure for developers and investors to create and rehabilitate affordable rental housing with low-income housing tax credits (LIHTC). In the second installment of a two-episode set on LIHTC partnerships, Michael Novogradac, CPA, and Novogradac partner Nicolo Pinoli, CPA, discuss the importance of having partnership allocations of tax attributes be respected, as well as the requirements to have allocations of tax attributes be respected. They discuss the set of regulations that create a safe harbor, and what it means when developers and investors do not qualify for the safe harbor. Finally, Novogradac and Pinoli discuss exit taxes and the fact that many affordable housing developments will have notable residual value at the end of Year 15.
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