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New Markets Tax CreditsIn December 2000, Congress enacted the New Markets Tax Credit (NMTC) as part of the Community Renewal Tax Relief Act of 2000. As a tool to provide investment in communities, the NMTC is available to taxpayers who make equity investments in Community Development Entities (CDEs) - organizations with track records and expertise in promoting economic development in low-income communities. These investments, in turn, may be used to provide a range of financial and technical assistance to promote economic development in low-income communities.
From the NAHRO Monitor:
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