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new markets tax credit program
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The New Markets Tax Credit Program (NMTC) is a community development lending tool designed to stimulate the flow of investment in underserved communities by creating new jobs and accelerating economic revitalization. The program was created as part of the Community Renewal Tax Relief Act of 2000 which encourages private capital investment in low income communities by providing a 39 percent federal tax credit to investors. The program is based on the idea that there are viable business opportunities in low-income communities and that a federal tax credit would provide attractive incentive to increase the flow of investment capital to such areas.
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NMTC Partners
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