As the most comprehensive resource available for those involved in technology-based economic development, SSTI offers the services that are needed to help build tech-based economies. Learn more about membership...
Special Federal Budget Issue: Department of the Treasury
There are only a few programs in the Treasury Department that SSTI monitors for the tech-based economic development community. All are slated for termination or phaseout.
The Community Development Financial Institutions (CDFI) Program ($31.4 million in FY 2005), the Bank Enterprise Award ($11.4 million in FY 2005), and the CDFI Native Initiatives ($6 million in FY 2005) all would be eliminated as part of the initiative to create a Strengthening American Communities Grant Program within the Department of Commerce (see Multi-Agency Initiatives for details).
A request of $8 million is made in FY 2006 for CDFI to administer the New Market Tax Credits ($6.2 million in FY 2005) and phase out the existing CDFI portfolio. New Market Tax Credits permit taxpayers to receive a credit against federal income taxes for making qualified equity investments in designated Community Development Entities.