New Market Tax Credit (Illinois)

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Last modified on February 12, 2015.

EZFeed Policy

Place Illinois

Applies to States or Provinces Illinois
Name New Market Tax Credit (Illinois)
Policy Category Financial Incentive
Policy Type Corporate Tax Incentive, Equity Investment, Personal Tax Incentives
Affected Technologies Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wind energy
Active Policy Yes

Implementing Sector State/Province

Primary Website

Last Review 2014-06-20
Last Substantive Modification
to Summary


The Illinois New Markets Development Program provides supplemental funding for investment entities that have been approved for the Federal New Markets Tax Credit (NMTC) program. This program will support small and developing businesses by making capital funds more easily available and will make Illinois more attractive to possible investors.

The NMTC program provides state and federal tax credits to investors that make investments into approved funds, which will make investments in eligible projects located in low income census tracks throughout Illinois. The program provides non-refundable tax credits to investors in qualifying Community Development Entities (CDE’s) worth 39% of the equity investment made into the CDE over a 7 year credit allowance period.

Policy Contact

Department Department of Commerce and Economic Development
Division New Markets Development Program
Address 100 W. Randolph St., Ste 3-400

Place Chicago, Illinois
Zip/Postal Code 60601
Phone 312-814-6019



Authorities (Please contact the if there are any file problems.)

Authority 1: 20 ILCS 663