AN ACT relating to the New Markets Development Program tax credit.

Summary

The bill sets out how community development entities can apply to the state Department for certification of equity investments or long‑term debt securities that qualify for New Markets tax credits. It details required paperwork, fees, timelines for approval, and conditions under which credits can be recaptured. The goal is to streamline credit allocation while ensuring investments reach low‑income communities.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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