What is the New Markets Tax Credit program?

The New Markets Tax Credit program permits taxpayers to claim a credit against Federal income taxes for Qualified Equity Investments (QEIs) made to acquire stock or a capital interest in designated Community Development Entities (CDEs).  These designated CDEs must use substantially all of these proceeds to make Qualified Low-Income Community Investments (QLICIs).

For further information, see the following links:

New Markets Tax Credit Brochure - http://www.cdfifund.gov/docs/2000_nmtc_brochure.pdf
New Markets Tax Credit General Guidance - www.cdfifund.gov/docs/2001_nmtc_guidance.pdf
New Markets Tax Credit Congressional Statute - www.cdfifund.gov/docs/2000_nmtc_statute.pdf