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FOR IMMEDIATE RELEASE:
September 17, 2014

FOR INFORMATION CONTACT:
Kim Conroy, Tax Commissioner
402-471-8557

New Markets Job Growth Investment Act – FYE 6/30/2015
Application Period Begins October 1, 2014

LINCOLN – The Nebraska Department of Revenue (Department) will begin accepting applications under the New Markets Job Growth Investment Act on October 1, 2014, from applicants seeking to receive cash investments that qualify for the New Markets Job Growth Investment Tax Credit. Application forms are available on the Department’s website. Any applications received by the Department before October 1, 2014, will be deemed to have been received on October 1, 2014. The total amount of qualified equity investments available for this round of applications is $12,437,866.

The New Markets Job Growth Investment Act (Neb. Rev. Stat. §§ 77-1101 through 77-1119) allows individuals, corporations, estates and trusts, financial institutions, and insurance companies to claim nonrefundable, nontransferable tax credits for investments in a qualified community development entity. The credits may be used against income tax, the premium tax imposed on insurance companies, or the franchise tax imposed on financial institutions.

For additional information, visit the New Markets Job Growth Investment Tax Credit section of the Department’s website.

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APPROVED:
Kim Conroy
Tax Commissioner


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