New Markets Tax Credit

New Markets Tax Credit (NMTC) as granted by the IRS as a credit against federal income taxes for making Qualified Equity Investments (QEIs) in qualified community development entities (CDEs). These investments are encouraged by this tax break to create jobs and bring improvement to residents of low-income communities.  

The City of Dallas administers NMTCs through the Dallas Development Fund (DDF) created in 2009. By investing in low income areas, investors receive a tax credit against their Federal income tax return in exchange for making equity investments in specialized financial institutions called Community Development Entities.

http://www.irs.gov/Businesses//New-Markets-Tax-Credit–1

http://www.dallas-ecodev.org/incentives/new-markets-tax-credit/

http://www.cdfifund.gov/what_we_do/programs_id.asp?programID=5

http://en.wikipedia.org/wiki/New_Markets_Tax_Credit_Program

http://www.irs.gov/pub/irs-utl/atgnmtc.pdf

http://nmtccoalition.org/