New Market Tax Credit Loan Documents Meeting Scheduled | Local

On Monday, October 25 at 9 a.m., the Jackson AC QALICB, Inc. Board of Directors will meet at the Jackson County Commission headquarters to potentially approve loan documents associated with the Federal New Tax Credit Program. market that is being leveraged to drive investment in Endeavour’s Autism Transition Center.

Jackson AC QALICB is a not-for-profit entity formed last year, created in part to act as a community development entity through which individual and corporate ratepayers can invest in the development of the new Transition Center for the autism, in exchange for a federal income tax credit through the New Market Tax Credit program. The “AC” in the name stands for Autism Center. The “QALICB” stands for Qualified Active Low-Income Community Business.

Under the New Markets Tax Credit program, investors receive a tax credit on their federal income taxes in exchange for equity investments in a low-income community that qualifies to provide opportunities investment tax credit for new markets through CDEs like Jackson AC QALICB, Inc.

County administrative offices are at 2864 Madison Street, Marianna. The meeting will be accessible via Zoom or individuals can attend in person.

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