On August 5, 2011, Oregon Governor John Kitzhaber signed into law the Oregon Low Income Community Jobs Initiative, which created a matching state tax credit to the federal New Markets Tax Credit (NMTC). This legislation allows the Oregon Business Development Department to allocate $16 million in tax credits per year and legislators expect the new program to bring at least $200 million in new investments in low-income communities. The legislation went into effect on September 29, 2011.
To read the legislation, click here and to read more about the bill’s timeline, click here.
