NMTCs: An Opportunity In A Bad Economy

Law360, New York (March 31, 2009, 12:00 AM EDT) -- The New Markets Tax Credit Program is a relatively new federal initiative that involves financial institutions and other investors who provide private equity as a source for unconventional and below-market financing to projects or businesses located in low-income communities.

These communities are liberally defined to include roughly 40 percent of the United States and most central business districts, making the program especially attractive. In a down economy where new projects have slowed to a trickle, New Markets Tax Credits ("NMTCs") are an important opportunity to be...
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