BILLS WOULD AUTHORIZE ADDITIONAL $500 MILLION IN NMTC ALLOCATION FOR RURAL JOB ZONES: On June 27, Reps. Terri Sewell (D-AL) and Jason

摘要

Smith (R-MO) and Senators Roger Wicker (R-MS), Ben Cardin (D-MD), Shelley Moore Capito (R-WV) and Mark Warner (D-VA) introduced the Rural Jobs Act (HR 3538), which would authorize an additional $500 million in annual New Markets Tax Credit (NMTC) allocations per year for 2019 and 2020 to spur economic revitalization in rural economies. The new allocation would target Rural Job Zones, which are NMTC-eligible census tracts in rural communities that are eligible for the USDA's Business and Industry program. These zones are denned as low-income communities with a population of 50,000 residents or less that are not adjacent to any urbanized area. Under this new definition, Rural Jobs Zones would be established in 342 out of the 435 congressional districts across the country.