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ABA-Treasury Announces New Markets Tax Credit Recipients.

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ENPNewswire-September 3, 2021--ABA-Treasury Announces New Markets Tax Credit Recipients

(C)2021 ENPublishing - http://www.enpublishing.co.uk

Release date- 02092021 - The Treasury Department's Community Development Financial Institutions Fund today announced the recipients of $5 billion in new markets tax credits to spur investment in low-income urban and rural communities.

The tax credit allocations were awarded to 100 community development entities.

The new markets tax credit program has generated $8 of private investment for every dollar invested by the government, the CDFI fund said.

'Many of the communities that will receive these funds have confronted economic challenges over many decades. Challenges which have been made more difficult by a lack of investment. It's critical that Congress sustain these investments over time by making the New Markets Tax Credit Program permanent,'...

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