Benefiting from New Markets Tax Credits
In this timely and compelling CLE program, attorneys, Julia Fendler and Trey Parker present “New Market Tax Credits”. The New Markets Tax Credit (“NMTC”) Program is administered by the Community Development Financial Institutions Fund (the “CDFI Fund”) of the United States Department of the Treasury. The NMTC Program is a federal statutory program, created in 2000 and currently extended through 2025, that is designed to encourage capital investment in low-income communities that have had inadequate access to capital. It is codified in Section 45D of the Internal Revenue Code. This program is for any attorney.
Agenda:
- Program Basics
- Major Players and Definitions
- Application and high level NMTC allocation facts
- What can NMTC proceeds be used for?
- Project Requirements
- Secondary criteria
- Typical Transactions
- What Other subsidies work with NMTCs?
- Conclusion
