New Markets Tax Credits in Indiana

Tax Talk
June 2004

The U.S. Department of the Treasury (the Treasury Department) recently announced the 62 organizations that received a total of $3.5 billion in tax credit allocations through the second round of the New Markets Tax Credit (NMTC) Program. Two Indiana organizations, Indiana Redevelopment Corporation and CBAI Community Development, Inc., both headquartered in Indianapolis, were among the awardees, receiving a combined tax credit allocation of $75 million ($25 million and $50 million respectively). The amount awarded represents the amount of qualified equity investment upon which the organizations may provide tax credits.
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