Advertise on podcast: Tax Credit Tuesday Podcasts

The low-income housing tax credit (LIHTC), which is responsible for funding nearly 4 million affordable homes, became law 40 years ago, when President Ronald Reagan signed the Tax Reform Act of 1986 on Oct. 22, 1986. In a special two-part episode of Tax Credit Tuesday, Michael Novogradac, CPA, sits down with five key figures in the passage and implementation of the LIHTC: Paul Grogan, then the president of LISC; Bart Harvey, the vice chair at Enterprise in 1986; Buzz Roberts, then a consultant for LISC; Barry Zigas, the president of the National Low Income Housing Coalition in 1986; and Bobby Rozen, who was a tax aide to Sen. George Mitchell, a key figure in the LIHTC's inclusion in the bill. In Part 1, they talk about their roles in the affordable housing world in 1986, how affordable housing was seen as the tax reform bill made its way through Congress, how the incentive made it into the final bill and their reaction when the legislation was passed.

Over the past five years, the renewable energy tax credit (RETC) market has been characterized by resilience and rapid growth, even amid a changing tax policy landscape. On this week's episode of Tax Credit Tuesday's "Renewable Energy Tax Credit Finance" series, Michael Novogradac, CPA, and Tony Grappone, CPA, discuss how renewable energy has grown as an industrial asset class and how the financing market has evolved alongside it. The two explore how transferability has created another way to monetize tax benefits from RETCs, how financing structures have evolved as the market matures, risk management and more. Novogradac and Grappone also explore pressures that could shape the RETC market in the future, including foreign entity of concern (FEOC) requirements and permitting constraints, as well as financing tools that could drive investment through 2030.

The next iteration of the opportunity zones (OZ) incentive, called "OZ 2.0" by stakeholders, officially begins Jan. 1, 2027. However, before that launch, practitioners have a busy schedule for the rest of the year. On this week's episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Jason Watkins, CPA, discuss five issues OZ practitioners should address before the calendar turns. Novogradac and Watkins begin by discussing transition guidance for expiring zones, then look at decisions in determining deferred gain recognition by Dec. 31. After that, they cover the state of determining new OZ tracts, what funds and businesses should be doing to prepare for reporting requirements and Treasury's request for feedback.

On this episode of Tax Credit Tuesday's "So You Want to Be a LIHTC Developer" series, Michael Novogradac, CPA, and Novogradac Housing Policy Consultant Mark Shelburne discuss qualified allocation plans (QAPs), the state-created documents that establish priorities and criteria for allocating the low-income housing tax credit (LIHTC). Novogradac and Shelburne give an overview of QAPs. They then discuss how familiarity with QAPs can help affordable housing developers improve their odds of successfully receiving a LIHTC award and better serve low-income renters in that state. Novogradac and Shelburne conclude by exploring the Novogradac resources available to learn more about QAPs.

On this episode of Tax Credit Tuesday's Renewable Energy Tax Credit (RETC) Finance series, Michael Novogradac, CPA, and Novogradac Partner Tony Grappone, CPA, discuss the current state of the RETC market. They take a retrospective look at 2025, comparing transfer activity with 2024. The two also look to 2026 and beyond, exploring pricing trends, transaction timing and the most significant opportunities and challenges facing the transfer market as it continues to mature. Novogradac and Grappone conclude the episode by discussing the potential impacts of the mid-term elections Nov. 3, immediately after which Novogradac will host its 2026 Fall Renewable Energy Tax Credits Conference in Washington, D.C.

The Community Development Financial Institutions (CDFI) Fund Sept. 17 announced the opening of the calendar year 2026 new markets tax credit (NMTC) application round'the first round since the One Big Beautiful Bill Act (OBBBA) made the NMTC incentive permanent. On this week's episode of the Tax Credit Tuesday podcast, Novogradac Partners Brad Elphick, CPA, and Rebecca Darling, CPA, explore the recent history of the NMTC and the new application round. Elphick and Darling review important dates for market participants to remember and discuss highlights of the new application, including new provisions to encourage the development of for-sale affordable housing.

What does it take to receive a low-income housing tax credit (LIHTC) award for your affordable housing development? On this episode of Tax Credit Tuesday's "So You Want to Be a LIHTC Developer" series, guest host and Novogradac Partner Dirk Wallace, CPA, and Novogradac Principal Dat Ksor, CPA, explore the steps that go into submitting a winning LIHTC application. The two discuss what an application is, the mechanics of building a complete application, strategies to make an application more competitive, and how developers can assess the competitiveness of their application before turning it off to the state. This is the first episode of a multi-part series that will examine several key stages in the affordable housing development cycle. Future episodes will explore the post-award process, and the stages that developers will navigate during and after construction.

The 2026 midterm elections are on the horizon, and many professionals in the tax credit world are anticipating the potential legislative changes and policy updates the election results will bring about for incentives such as the low-income housing tax credit (LIHTC), renewable energy tax credits (RETCs) and more. On this episode of Tax Credit Tuesday's "Washington Watch" series, Michael Novogradac, CPA, and Novogradac Chief Public Policy Officer Peter Lawrence look ahead to the election. The two discuss the current state of policy on various tax credits and financing programs, with Republicans controlling both the Senate and the House of Representatives. Novogradac and Lawrence then explore how the outcome of the midterm elections'particularly, whether Democrats gain the majority in the Senate, the House, or both'may affect the tax credit landscape. Later, they discuss which elected officials could become chair of several congressional committees depending on the results of Election Day.

On this episode of Tax Credit Tuesday's "Renewable Energy Tax Credit Finance Series," Michael Novogradac, CPA, and Tony Grappone, CPA, discuss key financial modeling considerations for developers and sponsors pursuing RETC transactions, including tax equity structuring trends in 2026. Novogradac and Grappone review four structure types for RETC transactions: partnership flips, "pref-equity" partnerships (also known as "JV structures"), sale leasebacks and inverted lease partnerships. The two give an overview of all four structures and discuss the advantages, challenges and economic tradeoffs associated with each model.

Public housing authorities (PHAs) are increasingly finding that funding sources via the U.S. Department of Housing and Urban Development (HUD) are no longer completely satisfying their capital or operational needs. On this episode of Tax Credit Tuesday's "So You Want to Be a LIHTC Developer" series, Michael Novogradac, CPA, and Rich Larsen, CPA, discuss how PHAs can partner with affordable housing developers to utilize the Rental Assistance Demonstration (RAD) program to redevelop and preserve their communities. Novogradac and Larsen give an overview of RAD and give tips for PHAs hoping to begin using the program. The two then discuss the challenges and opportunities that RAD presents for PHAs and affordable housing developers. This episode serves as a follow-up to the Jan. 6, 2026, episode of the podcast.

The affordable housing landscape in Hawai'i is one with unique challenges and opportunities'which also provides an opportunity for leadership. On this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Brent Parker, CPA, discuss the distinctive cost drivers for affordable housing in Hawai'i, as well as various federal and state tools that developers can use to build affordable housing throughout the state. Novogradac and Parker give an overview of federal and state low-income housing tax credits (LIHTCs), disaster relief programs, state-level financing programs, 201H exemption and more. The two conclude the episode by giving a sneak peek into the agenda for Novogradac's upcoming 2026 Fall Affordable Housing Conference, Sept. 16-17 at the Hyatt Regency Waik'k' Beach Resort and Spa in Honolulu.

On this episode of Tax Credit Tuesday's "Renewable Energy Tax Credit Finance" series, Michael Novogradac, CPA, and Tony Grappone, CPA, conduct a mid-year check-in on various topics related to renewable energy tax credits (RETCs). Novogradac and Grappone also discuss key RETC issues to pay attention to midyear, including three Generally Accepted Accounting Principles (GAAP) topics, three tax topics and three financial topics. Additionally, they discuss the U.S. District Court's recent restoration of the 5% safe harbor for renewable energy facilities. and the trial order regarding the Alta Wind I Owner Lessor C, et. al. v. United States 'case, a legal battle that dates back to the first term of President Barack Obama.

The 21 st Century Renewing Opportunity in the American Dream (ROAD) to Housing Act, which became law July 11, introduced sweeping changes to various housing programs and provisions. On this week's episode of Tax Credit Tuesday's "Washington Watch" series, Michael Novogradac, CPA, and Novogradac Chief Public Policy Officer Peter Lawrence discuss the act and its implications for low-income housing tax credit (LIHTC) developers and other professionals working in affordable housing. The two review 10 ways the bill impacts various programs and provisions, including the public welfare investment provision, build-to-rent provision, HOME investments partnership program, Rental Assistance Demonstration (RAD) and more. Novogradac and Lawrence also discuss the ways in which the bill might affect opportunity zones (OZs) and the new markets tax credit (NMTC) incentive.

Developers who receive low-income housing tax credits (LIHTCs) must incur at least 10% of the costs that are included in its reasonably expected basis by a specified date determined by federal and, often, state requirements in order to pass what is often called "the 10% test." On this week's episode of Tax Credit Tuesday's "So You Want to Be a LIHTC Developer" series, Michael Novogradac, CPA, and Karie McMillen, CPA, discuss the 10% test and how it came about. Novogradac and McMillen then dive into how the 10% test is calculated as a fraction, reviewing what makes up the denominator and what can potentially go into the numerator. They conclude by addressing some common challenges that developers face when it comes to meeting the 10% test.

There are advantages and disadvantages to developing real estate in any location. When it comes to affordable rental housing, some locations qualify for a 30% basis boost, which translates to the potential for generating 30% more low-income housing tax credit (LIHTC) equity. On this week's episode of the So You Want to Be a LIHTC Developer, Michael Novogradac, CPA, and Thomas Stagg, CPA, discuss three types of locations eligible for a 30% basis boost: qualified census tracts (QCTs), difficult development areas (DDAs) and a basis boost eligible to developments that have received 9% LIHTC allocation. The two conclude by introducing a new resource available through Novogradac, the Qualified Census Tract Estimator tool.