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BILL INTRODUCED TO ENCOURAGE NMTC INVESTMENT IN HAWAII

Friday, January 27, 2012 - 8:00AM

The Hawaii State Legislature on Wednesday introduced two bills to allow guarantees and credit enhancements to community development entities (CDEs). The companion bills, known as S.B. 2895 and H.B. 2387, also increase total maximum funding amounts from $250,000 to $5 million that a CDE can receive from loans, guarantees and credit enhancements. The provisions are designed to facilitate private lenders' participation in new markets tax credit (NMTC) financing and monetization of existing project assets for purposes of NMTC financing. S.B 2895 passed its first reading in the Senate and the House of Representatives referred H.B. 2387 to its Economic Revitalization & Business and Finance committees.

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