NMTC Program definition

NMTC Program means the program authorized by the Act and implemented pursuant to guidance published by the Fund at 66 Federal Register 21846 and 66 Federal Register 65806, the NMTC Program Income Tax Regulations (as hereinafter defined) promulgated by the Internal Revenue Service, and applicable Notice of Allocation Availability.
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NMTC Program means the New Market Tax Credit Program enacted by the United States Congress as part of the Community Renewal Tax Relief Act of 2000 (and codified as Section 45D of the Code), or any similar program adopted by any state or local government or Governmental Authority, which permits certain individual and corporate taxpayers to receive a credit against federal income taxes for making qualified equity investments in qualified community development entities.
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Examples of NMTC Program in a sentence

  • Capitalized terms used but not defined herein shall have the respective meanings assigned to them in the Act and/or the NMTC Program Income Tax Regulations (as hereinafter defined).

  • The Allocatee will be required to report on its compliance with the requirements of the NMTC Program and this Allocation Agreement and to assist the Fund in evaluating the results of the NMTC Program.

  • The Allocatee agrees to pay to the Fund an annual fee as may be assessed by the Fund, to cover the full cost (as defined in OMB Circular A-25) to the Fund associated with monitoring the Allocatee’s compliance with the requirements of the NMTC Program.

  • The Allocatee shall submit such financial and activity reports, records, statements, documents, and other information as may be requested by the Fund and the U.S. Department of the Treasury to ensure compliance with this Allocation Agreement, the provisions of the Internal Revenue Code and the NMTC Program Income Tax Regulations.

  • The Allocatee shall submit such financial and activity reports, records, statements, documents, and other information as may be requested by the CDFI Fund and the U.S. Department of the Treasury to ensure compliance with this Allocation Agreement, the provisions of the Internal Revenue Code and the NMTC Program Income Tax Regulations.

  • The Allocatee will be required to report on its compliance with the requirements of the NMTC Program and this Allocation Agreement and to assist the CDFI Fund in evaluating the results of the NMTC Program.

  • The Fund will also make reports described in Article VI hereof available to the Internal Revenue Service for the purpose of determining the Allocatee’s and its investors’ compliance with the requirements of IRC § 45D and the NMTC Program Income Tax Regulations.

  • The CDFI Fund will also make reports described in Article VI hereof available to the Internal Revenue Service for the purpose of determining the Allocatee’s and its investors’ compliance with the requirements of IRC § 45D and the NMTC Program Income Tax Regulations.

  • No course of dealing on the part of the Fund or any delay or failure on the part of the Fund to exercise any right herein will operate as a waiver of the right or otherwise prejudice the Fund's rights, powers and remedies under this Allocation Agreement, the Notice of Allocation, the NOAA, any guidance documents published by the Fund, the Act, the NMTC Program Income Tax Regulations or any other applicable law or regulation.

  • The Allocatee (or its Subsidiary Allocatees) shall not become an Affiliate of or member of a common enterprise (as defined in the Application, NOAA and related CDFI Fund guidance) with another entity that received a NMTC Allocation in this round of the NMTC Program (or its Subsidiary transferee), at any time after the submission of the Allocation Application.