In a victory for increased investment in low-income communities, the recently passed legislation to avert the so-called “fiscal cliff” included language extending the New Markets Tax Credit program for two additional years. The extension will provide up to $3.5 billion in tax credit allocation in both 2013 and 2014. Now that the program has been extended, the Treasury department can begin the process of awarding allocations to 2012 applicants. Allocation awards will likely be announced in spring, and Capital Link is working to ensure that health centers are lined up with potential NMTC allocatees and prepared with financeable business plans prior to the announcement. Once the announcement is made, allocation will be allotted to eligible projects very quickly, so health centers should prepare now. If you’d like more information about the program, feel free to visit our website for a copy of our recent publication “Spotlight on Capital Resources: New Markets Tax Credits”. To learn more, you can also contact Mark Lurtz at 636-244-3082 or email@example.com.