U.S. SENATE – U.S. Senator Steve Daines today announced that the U.S. Department of Treasury’s Community Development Financial Institutions Fund will be directing $65,000,000 to MoFi to boost economic growth to support and create jobs across Montana.
“This critical funding will help create jobs and support small businesses across Montana’s communities,” Daines said. “I will continue working to ensure Montanans can get back to work and keep our small businesses up and running.”
Daines voted to secure funding for this grant through the New Markets Tax Credit (NMTC) Program.
NMTC programs permits individual and corporate taxpayers to receive a non-refundable tax credit against federal income taxes for making equity investments in Community Development Entities, which support local and rural businesses in economically distressed communities.
For more information on the funding, click HERE.