ALABAMA ADOPTS STATE NMTC PROGRAM

Wednesday, May 30, 2012 - 7:00AM

Lawmakers in Alabama have enacted H.B. 257, the Alabama New Markets Development Act. The program offers a 50 percent non-transferable tax credit for investments of up to $10 million in low-income community businesses, with an annual program cap of $20 million in tax credits. The act will take effect on August 1.

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