Resource Details
Business, Education & Schools, Health & Mental Health
USDT New Markets Tax Credit Program
The NMTC Program attracts private capital into low-income communities by permitting individual and corporate investors to receive a tax credit against their federal income tax in exchange for making equity investments in specialized financial intermediaries called Community Development Entities (CDEs). The credit totals 39% of the original investment amount and is claimed over a period of seven years.
Eligibility
NMTC Program applicants must be certified as CDEs by the CDFI Fund. A CDE is a domestic corporation or partnership that is an intermediary vehicle for the provision of loans, investments, or financial counseling in low-income communities. CDE Certification is intended for community development financing intermediaries. Businesses seeking NMTC-enhanced financing should not apply for CDE Certification, but should instead contact CDEs directly.
U.S. Department of the Treasury
The U.S. Department of the Treasury's mission is to maintain a strong economy and create economic and job opportunities.
Contact
(202) 653-0421
