Need some funding for a real estate project? New Market Tax Credits may be just the ticket, according to Tala Shahlavi at Reed Smith in a recent blog post. She explains that the tax credit program was enacted as part of the Community Renewal Tax Relief Act of 2000 and is meant to “stimulate job creation and encourage investment and revitalization of low income communities found in urban and rural settings.”
The next competition round for these funds combines the 2013 and 2014 calendar years and has a total tax credit allocation of $8.5 billion. It’s administered by the Treasury Department.
