Congress Breathes New Life Into Markets Tax Credits

The New Markets Tax Credit program recently extended by Congress gives a big funding boost to developers who start projects in distressed areas.

The New Markets Tax Credit program recently extended by Congress gives a big funding boost to developers who start projects in distressed areas. Some of the new developments include factories, community centers, retail, schools, hospitals and other health care facilities, all of which will bring jobs and essential services to low-income urban and rural communities. Advocates for the program are hoping that Congress will not allow it to lapse after the five-year period is up, and will make it a permanent part of the tax code. (Bisnow)

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