At-a-Glance
The New Markets Tax Credit Program

The New Markets Tax Credit program was created by Congress in 2000 to permit taxpayers to receive a credit against federal income taxes owed by making equity investments in Community Development Entities or CDEs. The Program requires that substantially all of the equity contributed to these CDEs must in turn be used by them to invest in our nation's low-income communities.

The New Markets Tax Credit Coalition has recently issued its 2008 Progress Report on the New Markets Tax Credit program. The Report concludes that the Program continues to exceed expectations as it boosts critical investments in low-income communities across the country. It notes that since 2006 alone the program has resulted in more than $6 billion in NMTC investment being made to revitalize the nation's poorest communities.

Click here to view the Coalition's full report.