The federal New Markets Tax Credit program (NMTC) is designed to encourage investment in distressed or low-income communities. The New Markets Tax Credit Coalition* recently released its 2016 New Markets Tax Credit Progress Report.
The report’s findings are based on a survey sent by the NMTC Coalition to all Community Development Entities (CDEs) receiving an NMTC allocation. 87 CDEs that have received a total of $26 billion in NMTC allocations since 2003 responded. Survey respondents represented 80% of NMTC program activity in 2016.
