New Market Tax Credits (NMTC)-Metafund (Oklahoma)

From Open Energy Information


Last modified on February 12, 2015.

EZFeed Policy

Place Oklahoma


Applies to States or Provinces Oklahoma
Name New Market Tax Credits (NMTC)-Metafund (Oklahoma)
Policy Category Financial Incentive
Policy Type Corporate Tax Incentive, Loan Program
Affected Technologies Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric (Small), Natural Gas, Solar Photovoltaics, Wind energy
Active Policy Yes
Implementing Sector State/Province














Program Administrator Oklahoma Department of Commerce
Primary Website http://okcommerce.gov/new-and-existing-business/incentives/


Last Review 2014-08-08
Last Substantive Modification
to Summary
2014-08-08



Summary

The New Market Tax Credits (NMTC)-Metafund program is designed to provide financial capital to areas of significant economic distress. In addition to its $10 million in capital, MetaFund has received a $54 million New Markets Tax Credits (NMTC) allocation, which is available to banks and other tax credit investors. Census tracts having a poverty rate greater than 20% and/or a median family income of less than 80% of the area's median family income, qualify for the 39% credit, which can be claimed for qualifying loans or investments in eligible census tracts. MetaFund can also facilitate the 20-30% Oklahoma Small Business Tax Credits, which in some cases may be combined with the NMTC.


<metadesc> New Market Tax Credits (NMTC)-Metafund (Oklahoma): energy incentive program. </metadesc>

Policy Contact

Contact Name A. Thomas Loy
Department Commerce
Division Meta fund
Address 2225 N. May Avenue, Oklahoma City, OK 73107


Phone 405-949-0001


Email tloy@metafund.org


















References