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Statement from New Markets Tax Credit Coalition President, Annie Donovan, on the introduction of the Senate's New Market Tax Credit Extension Act of 2011

NMTC Extension Campaign
FOR IMMEDIATE RELEASE Media Contact: Marni Tomljanovic tomljanovic@sunshinesachs.com 212.691.2800 May 12, 2011 STATEMENT FROM NEW MARKETS TAX CREDIT COALITION PRESIDENT ANNIE DONOVAN ON THE INTRODUCTION OF THE SENATE’S NEW MARKETS TAX CREDIT EXTENSION ACT OF 2011 Today, the New Markets Tax Credit Extension Act of 2011 was introduced in the Senate by Senators Jay Rockefeller (D-WV) and Olympia Snowe (R-Maine). The statement, from New Markets Tax Credit Coalition President Annie Donovan, follows: “We applaud Senators Rockefeller and Snowe for their deep commitment to the New Markets Tax Credit Program and for including important funding provisions in the legislation that will continue the uninterrupted flow of capital investments to our nation’s most distressed communities. “The New Markets Tax Credit remains one of the most cost‐effective ways to create jobs and drive…
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Call Your Senators Today and Ask them to Co-Sponsor New Markets Tax Credit Extension Act of 2011

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Senator Jay Rockefeller (D-VW) and Senator Olympia Snowe (R-ME) will introduce the New Markets Tax Credit Extension Act of 2011 this week. The New Markets Tax Credit Extension Act of 2011 would extend the New markets Tax Credit (NMTC) for 5 years and provide $5 billion in annual allocation authority.  In addition, the bill would provide an Alternative Minimum Tax (AMT) exemption for NMTC investments, thereby ensuring NMTC investors the same consideration under the AMT as is currently provided to investors in many other federal tax credits. Senators Rockefeller and Snowe have written to invite their Senate Colleagues to co-sponsor this important NMTC legislation. To be listed as an original co-sponsor Senators must Mark Libell with Senator Rockefeller (224-6472) or Scott McCandless with Senator Snowe (224-7884) by 12:00 noon, Thursday…
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