2016 Novogradac Journal of Tax Credits Community Development Individual Award Recipients
Federal Legislator of the Year
The Federal Legislator of the Year award is presented to Sen. Ben Cardin, D-Maryland. Sen. Cardin has been a strong supporter of the new markets tax credit (NMTC) while serving on the Senate Finance Committee. As a longtime advocate of the Senate bill for permanent extension of the NMTC program, Sen. Cardin has been one of the most outspoken supporters of the program. He has championed for NMTC permanence because he understands the specific needs of the program. Sen. Cardin was the original cosponsor of the New Markets Tax Credit Extension Act of 2015. In July 2015, he introduced the Cardin Amendment to increase annual allocations from $3.5 billion to $3.9 billion. This amendment was approved in the final Senate Finance Committee bill.
Sen. Cardin was first elected to the Senate in 2006 and serves as Ranking Member of the Senate Foreign Relations Committee. He is also a senior member of the Environment and Public Works Committee and Small Business and Entrepreneurship Committee. Previously, Sen. Cardin was the youngest speaker of the Maryland State House of Delegates and served in the House of Representatives for nine years.
Congratulations to Sen. Cardin for his ongoing support of the NMTC program and his role in the multiyear extension of the NMTC in 2015.
State Legislator of the Year
District 15, Republican Majority Assistant Whip
The State Legislator of the Year award goes to State Rep. Brad Wilson, R-Utah. As chairman of the Utah Economic Development Task Force, Rep. Wilson oversaw the work that helped create thousands of jobs for Utah residents. He championed the 2014 New Markets Jobs Act in Utah as the primary House of Representatives bill sponsor. As a small business owner and real estate developer, Rep. Wilson is aware of the difficulties that growing compan
ies face while seeking flexible working capital. His efforts have proven effective, since 17 deals have been completed since this program launched. The small businesses that benefited vary throughout the entire state, but all are located within the community underserved by traditional forms of capital.
Rep. Wilson also sponsored legislation that attracts capital to Utah for startup business in technology and other high-growth industries. As the lead sponsor of legislation bolstering the tourism industry, which leads to more than $1 billion in state and local taxes, Rep. Wilson remains involved in the local business community and serves as a member of the board of directors for the Davis County Chamber of Commerce.
Congratulations to Rep. Wilson for his support of small businesses and his commitment to creating new jobs in Utah.
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