The U.S. Department of the Treasury has announced the opening of the 2010 competitive round for tax credits under the New Markets Tax Credit (NMTC) Program. The New Markets Tax Credit program spurs investment of private sector capital in distressed communities by providing a 39 percent tax credit for eligible firms who make qualified equity investments in designated Community Development Entities (CDEs). Key program deadlines include:
- CDE Certification Application: April 26, 2010
- NMTC Program Application: June 2, 2010
- Prior Allocatees’ Issuance of Qualified Equity Investments: July 21, 2010
