2013 Novogradac Journal of Tax Credits Community Development Individual Award Recipients
Federal Legislator of the Year
Congratulations to the Federal Legislator of the Year: Sen. Roy Blunt, R-Mo. During his tenure, Sen. Blunt has been a steadfast supporter of economic opportunity and community development in distressed neighborhoods. In June 2013, Sen. Blunt, along with Sen. Jay Rockefeller, D-W.V., introduced the New Markets Tax Credit Act of 2013. The bipartisan bill would permanently extend the federal NMTC program. In a statement about the bill’s introduction, Sen. Blunt said the bill would economic growth in communities nationwide:
“The New Markets Tax Credit Program has already had a positive impact in Missouri, leading to more than $2 billion in investments and thousands of jobs,” Sen. Blunt said. “I’m glad to support this bipartisan bill to make this tax credit permanent so that we can continue to encourage investment, growth, and job creation in low-income communities nationwide.”
According to Sen. Blunt, the NMTC has created nearly 24,000 jobs in Missouri between 2003 and 2010. More than 100 Missouri businesses have utilized the tax credit since it was created, and investments in developments have totaled $2.1 billion since 2003.
Congratulations again to Sen. Blunt for his monumental effort in preserving the NMTC program.
State Legislators of the Year
Ark. - District 8
Congratulations to the first winner of 2013 State Legislator of the Year: Arkansas Sen. Jake Files, who is being recognized for his tremendous advocacy for a state new markets tax credit program in 2013. Sen. File’s leadership was instrumental in passing and implementing H.B. 1832, the New Markets Jobs Act. The legislation is the largest-ever economic development and job initiative in Arkansas. As the chairman of the Senate Revenue and Tax Committee, Sen. Files gained a deep understanding of how the New Markets Tax Credit program promotes economic development and job creation, two topics that he has identified as his top priorities. He worked within the Senate to ensure that his colleagues knew the value of this important piece of legislation and to secure a place for the New Markets Jobs Act in the final tax and budget package passed by the legislature.
Sen. Files also continues to fight for pro-business policies and cosponsors important legislation that supports permanent job growth throughout Arkansas. His background as a real estate developer has taught him valuable lessons about business that help him legislate meaningful policy that encourages economic opportunity.
Since his reelection in 2012, Sen. Files currently also serves on the Transportation and Technology Committee, Joint Budget Committee and Legislative Audit.
Congratulations again to Sen. Files for his steadfast commitment to legislation that provides economic opportunity and sustains a high quality of life in low-income communities.
Louisiana House Speaker Pro Tem
Congratulations to the second winner of the 2013 State Legislator of the Year: Louisiana House Speaker Pro Tem Walt Leger. In 2013, Rep. Leger successfully championed H.B. 726 to create a state NMTC program. The Louisiana New Markets Job Act, which provides for $55 million of state NMTC allocation, is expected to increase access to capital for small businesses located in economically distressed areas of Louisiana. This expanded access to capital is expected to promote permanent job creation, which will in turn help develop more vibrant and diverse communities.
During his tenure, Rep. Leger has also served on the Appropriations Committee, the Criminal Justice Committee, the Education Committee, the Judiciary Committee, and the Joint Legislative Committee on the Budget. His focus has been on strategic spending and investments, making communities safer, smarter and more livable, and ensuring economic and educational opportunities for all the communities in Louisiana. In 2013, for his dedication in preserving small businesses across Louisiana, Leger was awarded the “Champion of Small Business Award” by the National Coalition for Capital.
Congratulations again to Louisiana House Speaker Walt Leger for reshaping the economic future of communities throughout Louisiana.
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