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Introduction to the New Markets Tax Credit (“NMTC”)

March 1, 2004

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Created as part of the Community Renewal Tax Relief Act of 2000, the NMTC is the result of a bipartisan initiative intended to spur the investment of $15 billion in new private capital into a diverse range of privately managed investment vehicles that in turn will make loans to and equity investments in businesses located in rural and urban low-income communities. The NMTC Program is set forth in Section 45D of the Internal Revenue Code of 1986, as amended (the “Code”), and is administered through the U.S. Treasury Department’s Community Development Financial Institutions (“CDFI”) Fund. Under the NMTC Program, investors receive a credit against federal income taxes for making qualified equity investments in designated Community Development Entities (“CDEs”).

Resources

Introduction to the New Markets Tax Credit.pdf

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