What is the New Markets Tax Credit program?
The New Markets Tax Credit (NMTC) program, established by Congress in December 2000, gives individual and corporate taxpayers the opportunity to receive a credit against income taxes by investing in qualified investment entities. This program also allows NCIF to participate in large-scale projects that meet our triple bottom-line investment criteria. Investors can earn attractive rates of return while meeting a community need, qualified businesses gain access to development funds at reasonable rates, and community development entities fulfill their mission by helping stimulate economic growth and job creation in specifically targeted lower-income communities. Projects must be in designated low-income areas (pre-qualified census tracts or specially-approved target areas).
