Coalition Expected to Seek Recapture Changes in Proposal To Extend NMTC Program

摘要

The New Markets Tax Credit (NMTC) Coalition ap-pears likely to ask Congress to revise the NMTC recapture rule when it submits a proposal to extend the program beyond its 2007 sunset date. The coalition board of directors will meet in January to discuss the issues to be addressed in the proposal, and a working group will be convened in February or March to come up with a draft by July 4, Robert Rapoza, coalition coordinator, said December 7 during its annual meeting. The coalition is also conducting a survey of first-round NMTC awardees to determine what type of institutions are making tax credit investments, how soon the qualified equity investments were made, the role of the investors in identifying transactions for the awardees, what type of investments are being made, and how long it takes to make business investments, he said. The results will be announced next spring.