Treasury Links New Markets Tax Credits with Program Reforms
The U.S. Department of the Treasury announced new New Markets Tax Credits (NMTC) awards for 2024 and 2025, emphasizing community revitalization and stricter compliance with anti-discrimination laws, while also increasing investments in rural areas to support hospitals, small businesses, and manufacturing. The reforms aim to focus the program on its core mission of job creation and community development, moving away from ideological priorities.