New Markets Tax Credits News Briefs – March 2014

Journal of Tax Credits Volume 5 Issue 3 Saturday, March 1, 2014   Legislation to create a state new markets tax credit (NMTC) in Indiana was introduced in early January. Senate Bill (S.B.) 165 is the Indiana New Markets Job Act. S.B. 165 provides $10 million in NMTCs annually through the Indiana Economic Development Corporation (IEDC). The bill, introduced on Jan. 8, also requires a qualified community development entity to pay the state a conditionally refundable performance fee of $500,...

New Markets Tax Credits News Briefs – October 2012

Journal of Tax Credits Volume 3 Issue 10 Monday, October 1, 2012   National New Markets Fund LLC, a Los Angeles-based firm, has closed a $12.7 million new markets tax credit (NMTC) allocation for nonprofit organization San Antonio (Texas) Lighthouse for the Blind (SALB). Funds will help build a new 60,000-square-foot rehabilitation and manufacturing facility. After construction on the new facility is completed, SALB will hire an additional 100 full-time blind workers. Part of the funding w...

New Markets Tax Credits News Briefs – August 2012

Journal of Tax Credits Volume 3 Issue 8 Wednesday, August 1, 2012   San Antonio Food Bank (SAFB) secured $27 million in new markets tax credit (NMTC) financing to help fund a $28 million expansion. The expansion will double the food bank’s capacity and enable it to increase the amount of food provided to families in need. The project will also double the size of SAFB’s current parking for nearly 2, 000 volunteers and clients and help relocate the food bank’s five-acre farm to a more pe...