TN Department of Revenue
Provides a tax credit to financial institutions when loans, qualified investments, grants or contributions are made to organizations involved in developing low income housing
Eligible Activities are as follows: 1) Activities that create or preserve affordable housing for low income Tennesseans, 2) Activities that assist low income Tennesseans in obtaining safe and affordable housing, 3) Activities that build the capacity of an eligible non-profit organization to provide housing opportunities for low-income Tennesseans, and 4) Any other low-income housing related activity approved by the THDA Executive Director and the Commissioner of Revenue. Eligible Housing Entities are as follows: 1) Tennessee based non-profit organizations with an Internal Revenue Code 501 (C)(3) status, 2) Public Housing Authorities, 3) Development Districts, and 4) Tennessee Housing Development Agency.
Developed to increase low income housing development.
Allows individual and corporate investors to receive a tax credit for making equity investments in Community Development Financial Insitutions
The credit totals 39 percent of the original investment amount and is claimed over a period of seven years. Equity investment must be made in Community Development Entity certified by the US Treasury. CDIs provide investment capital for low-income communities or low-income persons.
Established by Congress in 2000 to spur new or increased investments into operating businesses and real estate projects located in low-income communities.
Tax credit for the purchase of government-mandated pollution control equipment
Purchases of pollution control equipment that is mandated by state, federal or local law and that results in the reduction of water and/or air pollution or the elimination of hazardous waste qualify for tax credits such as exemption from franchise and sales and use taxes among other incentives. Tax credit applies to purchases of pollution control equipment for manufacturers.
Created to alleviate the burden of pollution regulations on industry.