New Report Released on the New Markets Tax CreditThe 2015 NMTC Progress Report shows the continued success of the NMTC in revitalizing communities.
Over 1,600 Call on Congress to Make New Markets Permanent as Tax Reform Heats UpBusinesses, investors and organizations sign letter urging Congress to extend the expired community and economic development tax credit before they leave Washington
House Bill Would Make New Markets Tax Credit PermanentReps. Tiberi (R-OH), Neal (D-MA), and Reed (R-NY) Lead Bipartisan Call to Make Federal Tax Credit Permanent
State Fact Sheets and Economic Impact ReportsLearn more about the NMTC's impact in all 50 states and the District of Columbia.
Bipartisan Senate Extension Legislation IntroducedSenators Blunt (R-MO) and Schumer introduce legislation to preserve and expand the New Markets Tax Credit.
SENATE EXTENSION BILL: Fact sheet, cosponsors, and more information on S 591.
About the NMTC
The New Markets Tax Credit (NMTC) was originally authorized in 2000 as part of a bipartisan collaboration between President Clinton and Speaker Hastert (R-IL). The idea behind the NMTC is that there are good business opportunities in urban and rural low-income communities, but the cost and availability of capital in these "New Markets" is an impediment to economic growth. NMTC employs a modest federal subsidy to stimulate private sector investment in these communities through a delivery system of private for-profit and nonprofit entities that provides patient, flexible capital to businesses and projects.
From the Blog
- Bipartisan Support for Federal New Markets Tax Credit Grows
- Bipartisan Letter Signed by 55 House Members Urges Action on Federal New Markets Tax Credit
- US Conference of Mayors Considering Resolution Supporting the New Markets Tax Credit
- NMTC Helps Dessert Manufacturer Create 80 Jobs in Greenville
- Senators Stabenow, Peters Announce Multi-Million Dollar Tax Credit Allocations to Support Economic Development in Michigan
How It Works
Browse our video vault, featuring case studies, Congressional testimony, hearings, and events.