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Changes will Promote Greater Investment in Operating Businesses
In an effort to encourage greater investment in non-real estate businesses located
in low-income communities, the Internal Revenue Service (IRS) published final regulations
for the New Markets Tax Credit Program (NMTC Program) in the Federal Register today,
September 28, 2012.
A result of efforts begun by the Treasury Department to understand from NMTC Program
recipients what enhancements were needed to spur job creation and economic revitalization
in low-income communities, the final rule endeavors to facilitate investments in
the operations of non-real estate businesses, such as working capital and equipment
loans. The rule defines a non-real estate business; addresses the reinvestment of
capital; and outlines investing guidelines, among other issues.
Links:
Final Regulations
New Markets Tax Credit Program
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