Blog
Treasury’s CDFI Fund Announces 2018 NMTC Awards
WASHINGTON, D.C. (May 23, 2019)– The U.S. Department of the Treasury’s announced the Calendar Year . 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 flexible community development tool with a successful track record, attracting investment capital and boosting economic activity in low-income areas,” said Bob Rapoza, spokesman for the NMTC Coalition. “In fact, the NMTC has leveraged an unprecedented level of investment to low-income communities—generating over $90 billion in total capital investment through public-private partnerships that ...
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House and Senate Members Move to Make New Markets Tax Credit Permanent
FOR IMMEDIATE RELEASE March 12, 2019 Contact: Ayrianne Parks ayrianne@rapoza.org (202) 393-5225 Bipartisan Call to Make Permanent the Federal Tax Credit that Leverages Private Investment in Economically Distressed Communities, Expands Businesses and Creates Jobs Washington, D.C. March 12, 2019 – Legislation was introduced in the House and Senate to secure the future of the New Markets Tax Credit (NMTC). Congresswoman Terri Sewell (D-AL) and Congressman Tom Reed (R-NY), introduced the House bill. In the Senate, the bill was introduced by Senators Roy Blunt (R-MO) and Ben Cardin (D-MD). The bills, both titled The New Markets Tax Credit Extension Act ...
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Lawmakers, Community Development Leaders Gather in Washington, D.C. to Discuss Tax Policy Trends and Plans for 2019
Coalition gathers NMTC stakeholders for a policy conference, releases new state statistics WASHINGTON, D.C. (December 18, 2018) — The held its Annual Conference on December 12 and 13 in Washington, D.C. The event featured members of Congress as keynote speakers, and panels on timely community development matters. Attendees were also provided with insights from the Treasury Department and the release of . NMTC Coalition President opened the conference, welcoming speakers and guests. The experienced NMTC practitioner and Greenline Ventures EVP highlighted recent successes and looked to the future of the NMTC Coalition. Keynote speakers at the conference included U.S. Reps ...
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Seven New Cosponsors on H.R 1680
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 ...
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Six New Cosponsors of H.R. 1680
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’ districts. Tim Ryan (D-OH) Renovation of the Youngstown YMCA “What we’re able to do through the tax credit is provide construction jobs retain jobs in the city and be part of the renaissance of downtown Youngstown,” says YMCA CEO Tim Hilk. The project creates 19 permanent full time ...
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