We are a national membership organization that promotes increased economic activity in low income urban and rural communities through the New Markets Tax Credit program. The New Markets Tax Credit Coalition carries out action-oriented research, policy review and analysis, technical assistance and lobbying in support of the New Markets Tax Credit.
The Coalition has been the leading advocate for the NMTC in Washington and continues to work to advance legislation to strengthen and protect the Credit. Founded in 1998 as the Community Development Tax Credit Coalition, the New Markets Tax Credit Coalition worked with the Clinton Administration and the Congress to design and enact the original New Markets Tax Credit legislation in 2000. The Coalition then worked with the Bush Administration to develop regulations and application procedures necessary to launch the program in 2002. Following that, the Coalition lobbied the Congress to expand NMTC to the GOZONE and extend the program in 2008 and 2009. In late 2008 and 2009 the Coalition worked with the incoming Obama Administration and the Congress to increase NMTC volume to $5 billion per year in the American Reinvestment and Recovery Act. Over the last year the Coalition has been successful in promoting the Credit both in the Administration and in Congress. Through all our efforts, the Administration has taken important steps in support of the Credit: changing its position on Credit authority to support the $5 billion annual allocation level established in the American Recovery and Reinvestment Act; supporting a two year extension of the NMTC and AMT relief for New Markets investors; endorsing a Coalition recommendation that passive activity limitations not apply to NMTC investments; and working with the Coalition to improve lending to operating business through the New Markets Tax Credit.