Something 'New' In The Big World of Tax Credits

November 5, 2007

In December 2000, Congress passed, with bipartisan support, one of the most important federal subsidies for economic development in low-income and economically depressed areas in three decades. The program has been coined the New Markets Tax Credit program and was designed to encourage capital investments in areas that are distressed as a result of neglect and under-service. The focus of the program is to bring direct investments into distressed communities that otherwise would not receive such opportunities.

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