Working Papers

Fall 2008
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Addressing the Prevalence of Real Estate Investments in the New Markets Tax Credit Program

Author(s):

The New Markets Tax Credit (NMTC) program was created by Congress in December 2000, at the end of the Clinton administration. When initially passed, the program was to provide a total of $15 billion in tax credits between 2001 and 2007 to subsidize investments in businesses and real estate developments serving low-income communities.

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