New Markets Tax Credits Program

New Markets Tax Credits Program

Program Name: New Markets Tax Credits Program

Resource Type: Federal

State: USA

Agency: Program Source: Tax Incentive

Description: Attracts investment capital to low-income communities by permitting individual and corporate investors to receive a tax credit against their Federal income taxes in exchange for equity investments in specialized financial institutions called Community Development Entities (CDEs). Funds invested into CDEs allow them to finance operating businesses and real estate development in low-income communities across the country. Shoreside working waterfront facilities would be eligible for investments as long as they are situated in qualifying low income areas.