Louisiana Bill Would Provide Boost in NMTC QEI Allocation Authority Aug. 1

Tuesday, April 11, 2023 - 10:00AM

Legislation introduced in the Louisiana House of Representatives would provide $150 million in qualified equity investment (QEI) authority beginning Aug. 1, 2023, for the state new markets tax credit (NMTC) and revise certain definitions. H.B. 510 retains previous requirements for QEIs, but applies them to investments made after Aug. 1. The Louisiana NMTC is for 45% of QEIs with a $55 million annual cap, which would be expanded for 2023 under this legislation.

State NMTCs and other funding will be a focus at the Novogradac 2023 Spring New Markets Tax Credit Conference, June 8-9 in Washington, D.C.

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