On September 28th the Department of Treasury issued final regulations modifying the New Markets Tax Credit Program to facilitate and encourage investments in non-real estate businesses in low-income communities. To address the concern that an investment in a non-real estate business would result in a liquidity event for the community development entity prior to the expiration of the 7 year compliance period, the final regulations provide that a CDE may reinvest a qualified low-income community investment during the compliance period in a \u201cqualifying entity\u201d provided that such reinvestment occurs within 30 days. A \u201cqualifying entity\u201d is defined as a certified CDFI or an entity designed by the Secretary of the Treasury. The regulations define a non-real estate qualified active low-income community business as any business whose predominant business activity (measured by more than 50% of the business\u2019 gross income) does not include the development, management or leasing or real estate.<\/p>\n","protected":false},"excerpt":{"rendered":"
On September 28th the Department of Treasury issued final regulations modifying the New Markets Tax Credit Program to facilitate and encourage investments in non-real estate businesses in low-income communities. To address the concern that an investment in a non-real estate business would result in a liquidity event for the community development entity prior to the … <\/p>\n
Continue reading “Treasury Issues Final NMTC Regulations”<\/span><\/a><\/p>\n","protected":false},"author":168,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[32,12,23,44],"ppma_author":[89],"class_list":["post-70","post","type-post","status-publish","format-standard","hentry","category-new-markets-tax-credit-program","tag-community-development-entities","tag-momjian","tag-new-markets-tax-credits","tag-tax-credit-investors"],"authors":[{"term_id":89,"user_id":168,"is_guest":0,"slug":"ajmomjian","display_name":"Arthur J. Momjian","avatar_url":"https:\/\/blogs.duanemorris.com\/newmarketslaw\/wp-content\/uploads\/sites\/9\/2014\/07\/momjianart-125x150.jpg","author_category":"","last_name":"Momjian","first_name":"Arthur J.","job_title":"","user_url":"http:\/\/www.duanemorris.com\/attorneys\/arthurjmomjian.html","description":"Read Art's bio.<\/a>"}],"_links":{"self":[{"href":"https:\/\/blogs.duanemorris.com\/newmarketslaw\/wp-json\/wp\/v2\/posts\/70","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.duanemorris.com\/newmarketslaw\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.duanemorris.com\/newmarketslaw\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/newmarketslaw\/wp-json\/wp\/v2\/users\/168"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/newmarketslaw\/wp-json\/wp\/v2\/comments?post=70"}],"version-history":[{"count":0,"href":"https:\/\/blogs.duanemorris.com\/newmarketslaw\/wp-json\/wp\/v2\/posts\/70\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.duanemorris.com\/newmarketslaw\/wp-json\/wp\/v2\/media?parent=70"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/newmarketslaw\/wp-json\/wp\/v2\/categories?post=70"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/newmarketslaw\/wp-json\/wp\/v2\/tags?post=70"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/newmarketslaw\/wp-json\/wp\/v2\/ppma_author?post=70"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}