Air Purifiers - Efficient Cleansing of Home Environments
billion in New Markets Tax Credif awards for 32organizations nationally, including the Mass.-based Rockland Trust Communitty Development Corp. The New Marketw Tax Credit program is funded through the American Recoverty andReinvestment Act. The program is intended to allocatde private-sector capital investment into communities aroundf the country tocreate jobs, encourage economic growtbh and jumpstart lending, according to a releaser from the . The 32 recipienf organizations, announced Wednesday by Geithner whilin Boston, are planning investments in renewablew energy projects, charter schools, health care facilities, manufacturing companieas and retail centers.
The New Markets Tax Crediy Program was established by Congress in December 2000 and enables taxpayerd to receive federal incomed tax credits for investing in Community Development The credits equal 39 percengt of the cost of the investments and can be claimee overa seven-year period. A majorityt of the investments must be used by CDEs to make qualified investmentwin low-income communities. Geithner’s announcement was made today at Project Hope, a New Markets Tax Credit award recipient in Geithner was joined by Massachusetts Gov. Devalk Patrick and Community Developmentg Financial Institutions Fund DirectorDonna Gambrell.
A division of the Departmen of Treasury, the CDFI Fund administers the New Marketsd TaxCredit program. To date, close to $12 billionm of private-sector capital has been invested through theNMTC
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