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INDIANA NMTC PROGRAM INTRODUCED

Monday, January 16, 2012 - 8:00AM

Indiana Reps. Suzanne Crouch and Peggy Welch last week introduced H.B. 1248 to create the New Markets Job Growth Tax Credit. The program would provide a state tax credit equal to 39 percent of the purchase price of a qualified investment, which the bill limits to $10 million per transaction. H.B. 1248 also provides for a $20 million annual program cap and a five-year carryforward period. If enacted, the program would take effect in 2013.

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