About this Dataset

New Market Tax Credits

The federal New Markets Tax Credit Program (NMTC Program) helps economically distressed communities attract private investment capital by providing investors with a federal tax credit. The NMTC Program helps to offset the perceived or real risk of investing in distressed and low-income communities. Historically, low-income communities experience a lack of investment, as evidenced by vacant commercial properties, outdated manufacturing facilities, and inadequate access to education and healthcare service providers. The New Market Tax Credit Program (NMTC Program) aims to break this cycle of disinvestment by attracting the private investment necessary to reinvigorate struggling local economies.

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 percent of the original investment amount and is claimed over a period of seven years.

For more information, please see our NMTC Program Fact Sheet (English / Español). A detailed overview of the NMTC Program, including information on eligible activities, can also be found in the Introduction to the NMTC Program presentation.

https://www.cdfifund.gov/programs-training/programs/new-markets-tax-credit
Organization: City of New Orleans
Last updated: 2021-08-07T12:05:27.542499

Tables

Table 1

@usgov.city_of_new_orleans_new_market_tax_credits.table_1

3.45 KB
119 rows
3 columns


CREATE TABLE table_1 (
  "the_geom" VARCHAR,
  "objectid" BIGINT,
  "new_market_tax_credit" VARCHAR
);