NMTC Morning Update – Extension amendment, CDFI Fund updates, and more
- Today, the Senate will vote on an amendment to the surface transportation bill (S. 1813) that includes an extension of the NMTC. Senator Pat Roberts (R-KS) is offering the amendment, which renews many of the tax provisions that expired in 2011 including the NMTC, the R&D credit, and state and local sales tax deductions. It also includes provisions relating to the Keystone pipeline and a federal pay freeze. [Amendment text]
- The CDFI Fund plans to update its program eligibility criteria based on recently released data from the 2006-2010 American Community Survey. The release of tables detailing NMTC census tract eligibility is tentatively scheduled for May. [CDFI Fund news release]
- CDFI Fund Director Donna Gambrell’s remarks at the CDFI Coalition Conference in Washington, DC on Wednesday, March 7, 2012. [CDFI Fund News Release]
- Ball State recently released a study, “The Effect of State-Level Add-On Legislation to the Federal New Market Tax Credit Program”. [NMTC and State Add-ons]
- The New Mexico Finance Authority (NMFA) is accepting applications through March 30 for awarding low-interest loans for businesses in qualified low-income areas throughout New Mexico. New Markets Tax Credits can provide low cost gap financing to fund projects and business expansions that are more than $5 million. [CNJDigest]
SAVE THE DATE: The Annual NMTC Policy Conference is June 6, 2012 in Washington DC.
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