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

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.

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