New Markets Tax Credit Report Shows CDEs Are Raising, Deploying Funds Faster Than Rules Require

摘要

Community development entities (CDEs) are raising and deploying New Markets tax credit (NMTC) funds at a faster rate than program rules require, according to a New Markets Tax Credit Coalition progress report on the program. "The results indicate that demand for the credit by allocatees and investors have made the program a more efficient development tool and have encouraged greater targeting to communities experiencing severe economic distress," the report says. The report is based on a survey of 84 CDEs which received 129 allocations of tax credit investment authority totaling $7.4 billion during the first four allocation rounds from 2003 to 2006.