The New Markets Tax Credit (NMTC) has provided a vital spark to infrastructure and economic development projects across Indian country. Momentum has been building over the past several years but because of recent federal agency actions, and now tax-related Congressional bickering, it is in danger of petering out.
Out on the prairie, the skyline of Winnebago, Nebraska continues to grow. That is because the Winnebago Tribe is constructing a new multi-million-dollar educational center. This is a major achievement for a community in great need. Any other rural community might have issued bonds based on local property tax revenues to construct a critical community asset like this. But of course tribal governments cannot levy real property taxes. As such, NMTC-backed financing helped make this project a reality...
Morgan, Lance and Gabriel S. Galanda. "How Tribal Leaders Are Creating Jobs." Indian Country Today Media Network. October 15, 2013. Opinion. (https://indiancountrymedianetwork.com/news/opinions/how-tribal-leaders-are-creating-jobs/, accessed October 16, 2013)