New Market Tax Credits (NMTC)-Metafund (Oklahoma)
Last modified on February 12, 2015.
|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|
|Implementing Sector|| State/Province
|Program Administrator||Oklahoma Department of Commerce|
|Primary Website|| http://okcommerce.gov/new-and-existing-business/incentives/
| Last Substantive Modification
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.
|Contact Name||A. Thomas Loy|
|Address|| 2225 N. May Avenue, Oklahoma City, OK 73107