Last week, Senators Wicker (R-MS), Warner (D-VA), Capito (R-WV), and Cardin (D-MD) joined Representatives Sewell (D-AL) and Smith (R-MO) to introduced the Rural Jobs Zones Act of 2019 (H.R. 3538 and S. 2028). The legislation would provide two years and $1 billion in additional NMTC allocation targeted to low-income rural areas, with a 25 percent…

Yesterday, the NMTC Extension Act of 2019 added 7 new cosponsors. Please take a moment to thank these offices for calling for a permanent, expanded New Markets Tax Credit.

WASHINGTON, D.C. (May 23, 2019)– The U.S. Department of the Treasury’s CDFI Fund announced the Calendar Year 2018 New Markets Tax Credit (NMTC) allocation awards today. The CDFI Fund awarded $3.5 billion to 73 Community Development Entities (CDEs) from 35 states, Puerto Rico, and the District of Columbia. “The federal New Markets Tax Credit is a unique and…

Full cosponsorship list Today, Representatives Tim Ryan (D-OH), Jimmy Panetta (D-CA), Sharice Davids (D-KS), Peter DeFazio (D-OR), Trent Kelly (R-MS), and Jim Costa (D-CA) signed on as cosponsors of the NMTC Extension Act of 2019 (H.R. 1680). That brings us to 74 cosponsors plus Terri Sewell (D-AL). Below are some project examples from these members’…

One Hope United’s Joliet Early Learning Center One Hope United’s (OHU) Joliet Early Learning Center will open in March, thanks to an Illinois state grant and $15 million in new markets tax credits. This new center is one of 12 One Hope United early childhood education programs in the Chicago metropolitan area offering a safe,…

Small business incubator, training center opens on St. Paul’s East Side Dayton’s Bluff Neighborhood Housing Services of St. Paul, in partnership with Neighborhood Development Center (NDC), opened a small-business incubator and training center in the summer of 2017 at 809 E. Seventh St. The primary focus is minority neighborhood entrepreneurs who own small and start-up…