was awarded a $65 million allocation from the New Markets Tax Credits (NMTC) program administered by the U.S. Treasury Department's Community Development Financial Institutions Fund. Under the ...
CINCINNATI--(BUSINESS WIRE)--The Fifth Third New Markets Development Company has received a $50 million allocation in New Markets Tax Credits from the U.S. Department of the Treasury’s Community ...
In existence since 2000, the federal New Markets Tax Credit (NMTC) incentive has provided gap financing and infusions of cash in economically distressed communities for more than two decades.
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The allocations by the U.S. Department of the Treasury are part of $5 billion from the New Markets Tax Credit program that will flow to 104 community development entities (CDEs) nationwide.
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To receive a New Market Tax Credit allocation award, the company was required to demonstrate a mission and track record of providing investment capital in low-income communities. "We are proud of ...
For example, New York offers a solar state tax credit covering 25% of system costs up to a maximum amount of $5,000. If you install an 8 kW solar system for $22,500, you get a state tax credit of ...
Since 2016, NYCR-CDE has received seven separate annual tax credit awards totaling $315 million from the U.S. Department of Treasury. To receive a New Market Tax Credit allocation award ...