In the past, every dollar in tax credits has generated an average of eight private investment dollars for projects like manufacturing plants, retail developments, affordable housing and health centers. Perhaps that’s why last week’s announcement was greeted with excitement across the country.
On Wednesday, April 24th, the Donna Gambrell, Director of the CDFI Fund, announced the Tenth Round of NMTC Allocation Awards totaling $3.5 billion in allocation.
On January 1, 2013, the House of Representatives passed The American Taxpayer Relief Act (H.R. 8), by a vote of 257-167. The package includes extension of New Markets Tax Credits for 2012 and 2013 at $3.5 billion in annual credit authority. This was an important step by Congress to ensure the continued flow of billions […]
New Markets Tax Credit Economic Impact Report finds that NMTC has Generated A Significant Number of Jobs, Expanded State and Local Tax Base in Economically Distressed Areas
Over one thousand businesses, coalitions, nonprofits, developers, financial institutions, local governments, and other stakeholders signed a letter to Congress in support of the New Markets Tax Credit