Celebrating the New Markets Tax Credit’s 15th Anniversary – Part 1

Published by Michael Novogradac on Friday, December 4, 2015 - 12:00am

Nearly 15 years ago, on December 21, 2000, President Bill Clinton signed
into law the Community Renewal Tax Relief Act of 2000. Among other things, the bill created the new markets tax credit (NMTC), which was designed to
encourage investment in low-income communities with a credit equal to
39 percent of the investment, granted over seven years.

As noted in this brief history, more than 9,000 NMTC investments have been made and have generated more than 596,000 jobs so far.

Blog Graph NMTC 15th Anniv. Part 1 - Timeline
Click to Enlarge

Stay tuned for Part 2 of this post on Monday, which will highlight more important facts about the new markets tax credit’s first 15 years.