291 Michael J. Novogradac, CPA, is the managing partner and Nicolo R. Pinoli, CPA, is a manager of Novogradac & Company LLP. Both are in the fi rm’s San Francisco offi ce. Mr. Novogradac is an author of the Low-Income Housing Tax Credit Handbook and the New Markets Tax Credit Handbook. Mr. Pinoli has written numerous articcle on tax issues of importance to the affordable housing industry. Tax Topics Proposed Regulation Sheds Additional Light on Operation of § 42 Qualified Contract Process Michael...