The NMTC program is designed to help improve low income areas within a community. As such, Waller County has many areas that qualify for NMTC for businesses. Download map of eligible areas. You can also view a copy of the 2017 NMTC Progress Report to see projects that have used NMTC. What is NMTC?
From the IRS website:
The New Markets Tax Credit (NMTC) Program, enacted by Congress as part of the Community Renewal Tax Relief Act of 2000, is incorporated as section 45D of the Internal Revenue Code. This Code section permits individual and corporate taxpayers to receive a credit against federal income taxes for making Qualified Equity Investments (QEIs) in qualified community development entities (CDEs).
These investments are expected to result in the creation of jobs and material improvement in the lives of residents of low-income communities. Examples of expected projects include financing small businesses, improving community facilities such as daycare centers, and increasing home ownership opportunities.
- New Markets Tax Credit Coalition Website
- IRS NMTC Information Website
- Community Development Financial Institutions Fund (CDFI)