Massachusetts Governor Touts Community Investment Tax Credit

Massachusetts Governor Deval Patrick discusses the Community Investment Tax Credit with MACDC President Joe Kriesberg

December 9, 2015


Deval Patrick on Community Investment Tax CreditGovernor Deval Patrick discussed the state's Community Investment Tax Credit with Joe Kriesberg, President of the Massachusetts Association of Community Development Corporations (MACDC). Massachusetts and South Carolina are the only states with tax credits explicitly intended to fund the operation of community development corporations. 
MACDC proposed the 2012 legislation, which enables community development corporations to attract partners and financial supporters and increase the scale of their impact. Kriesberg credited his colleagues in the NACEDA network with inspiring the legislation and helping to get it passed. "Through NACEDA, we learned about community development tax credits in other states. Our NACEDA colleagues helped us write the bill, came to Massachusetts to testify at the State House on our behalf, and provided us with data and facts to support the proposal," Kriesberg noted. The resulting Community Development Partnership Act provided $34.5 million in public resources over seven years, leveraging an additional $33 million in private funding.

Watch the video. Hear why Gov. Patrick signed the bill into law and how it benefits communities across the Commonwealth.

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