How Has the New Markets Tax Credit Program Been Funded over Time?

Brief

How Has the New Markets Tax Credit Program Been Funded over Time?

Abstract

This brief summarizes the funding history of the NMTC Program. Each year, through the US Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund and the Internal Revenue Service, the program provides tax credits to subsidize local development real estate projects and operating businesses (including nonprofits) in census tracts with low average incomes or high poverty rates.

Cross-Center Initiative

Cross-Center Initiative: 
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