Coalition Plans to Seek Five-Year Extension of NMTC Program

摘要

The New Markets Tax Credit Coalition (NMTCC) will seek a five-year extension of the program through fiscal 2012, with annual allocations beginning at $3.5 billion and increasing with the Consumer Price Index (CPI). Plans for the extension were endorsed by coalition members during their policy conference May 12. There are two annual allocations of $3.5 billion remaining on the seven-year $15 billion program, so legislation would have to be enacted in 2006 for the program to continue without interruption, according to Robert Rapoza, coordinator for the coalition.