New CDVCA Website Coming Summer 2022
The Senate Finance Committee approved on July 21, 2015 a tax extender package. The bill includes an amendment by Senator Cardin to increase NMTC credit authority to $3.94 billion for 2015 and 2016. The cost of the amendment is $230 million over the 10 year scoring period. From 2008 to 2015, inflation reduced the Credit by 12%. Cardin’s amendment provides what amounts to an inflation adjustment. It is the first increase in NMTC since enactment of the American Renewal and Recovery Act in 2009.