The New Markets Tax Credit was authorized by Congress in December 2000 as part of the bi-partisan Community Renewal Tax Relief Act of 2000 (PL 106-554) and amended through the American Jobs Creation Act of 2004 (PL 108-357). The NMTC was further amended by the Tax Relief and Health Care Act of 2006 (PL 109-432) and extended through 2008. The rule governing NMTC is Section 45(D) of the Internal Revenue Code.
Rules on using the NMTC with Loan Guarantee Programs
Treasury/ IRS Proposed Rules to Encourage NMTC Investing in Non-Real Estate Businesses