TAX CREDIT EXTENSION SOUGHT TO SPUR COMMUNITY INVESTMENTS
By Colin A. Young
STATE HOUSE NEWS SERVICE
STATE HOUSE, BOSTON, MAY 2, 2017....Touting the millions of dollars in private investment it has generated and the projects it has helped finance, community development corporations took to the State House on Tuesday to press the Legislature to extend the Community Investment Tax Credit for another six years.
The goal of the credit is to attract private investment in community development corporations (CDCs), which are often focused on improving low-income neighborhoods, by enabling donors to receive a 50 percent refundable state tax credit for donations to CDCs.
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