Missouri Enacts State New Markets Tax Credit Program Legislation

摘要

Missouri has enacted a state New Markets tax credit (NMTC) program designed to work in conjunction with federal credits to stimulate investment in distressed communities.rnGov. Matt Blunt (R) signed the legislation (H.B. 1) into law on September 4, which is the effective date for the state NMTC program.rnLike the federal program, the state NMTC program provides a seven-year tax credit period. Under the legislation, up to $15 million in state NMTCs would be available for equity investments in community development entities (CDEs) with a federal NMTC allocation agreement with the Community Development Financial Institutions (CDFI) Fund. The CDE's service area will have to include Missouri.