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Nebraska Governor Signs Law Authorizing 2021 State NMTC Awards
Nebraska Gov. Pete Ricketts signed legislation that extends the Nebraska New Markets Job Growth Investment Act by allowing a 2021 allocation of $15 million. L.B. 682 authorizes the state credits for properties that receive federal new markets tax credits (NMTCs). The state credits are redeemed by community development entities in Year 3 through Year 7 and qualifying small business may receive a maximum investment of $10 million.
State credits will be among the topics of discussion this Thursday and Friday at the Novogradac 2021 Spring New Markets Tax Credit Virtual Conference.