New Markets Tax Credit Program
Information Source URL
Assistance Type
Funding Source
Where the Tax Incentive is Offered
All of California
Eligible Applicant
Contact
Scott Carper
Email
scarper@cscdcnewmarkets.org
Phone
(925) 478-4912
Description
Created by the U.S. Federal Government in 2000 as part of the Community Renewal Tax Relief Act, the New Markets Tax Credit (NMTC) program encourages investment in low-income communities. Through the NMTC Program, real estate projects or businesses in a low-income community are able to generate capital by providing investors- typically a bank or financial institution- a tax credit as an additional incentive for capital investment.
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