New Market Tax Credits
New Markets Tax Credits (NMTC) is a program of the United States Treasury Department's Community Development Financial Institutions (CDFI) Fund that permits taxpayers to receive a credit against Federal income taxes for making qualified equity investments in designated Community Development Entities (CDEs).
The CDEs use these investments to provide below market rate loans or grants to businesses located in low-income and/or distressed communities. Liberty Bank and Trust Company, a CDE, and its subsidiary CDEs have used qualified equity investments to help renovate, finance, and/or expand a New Orleans area high school, a 75 year old New Orleans retailer, a breast cancer treatment center, a National Primate Research Center in Covington, and several other businesses in the New Orleans, Mobile, and San Antonio.
