1-Hour Program

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Overview

The Covid Pandemic has disproportionately affected low-income communities and their residents.  Even more than a year into the pandemic and despite large economic stimulus efforts, unemployment remains high in low-income communities, by some indices, more than double the unemployment rate of the population at large.  The New Markets Tax Credit, set forth in Section 45D of the Internal Revenue Code, was enacted with bipartisan support in 2001 and recently extended for an additional five years, as an incentive to create jobs and spur economic growth in low-income communities.  Economic investment in low-income communities, encouraged by New Markets Tax Credits, can significantly enhance economic growth and accelerate the recovery from severe job losses in the low-income communities.

Julia Fendler, A. Ann Hered and Thane R. Hodson of Butler Snow LLP will discuss the following topics:

  • Economic benefits to borrowers and investors in New Markets Tax Credit financings (10 minutes)
  • Which projects qualify and how for New Markets Tax Credit financings (8 minutes)
  • Attracting debt capital for New Markets Tax Credit financings (10 minutes)
  • Integrating New Markets Tax Credits with other federal and state tax incentives (10 minutes)
  • New Markets Tax Credit financings for communities affected by Covid (12 minutes)
    • Healthcare providers
    • Healthy food providers
    • Public and private schools and community centers
    • Manufacturing facilities  
  • New Markets Tax Credits and quasi-governmental borrowers (10 minutes)

 

Program Level: Update

Intended Audience: In-house counsel, outside attorneys, tax, finance and other allied professionals involved with projects qualifying for New Markets Tax Credit

Prerequisites: None

Advanced Preparation: None

 

Industries

Credit Details