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...
Department of the Treasury
There are only four programs in the Treasury Department that SSTI monitors for the tech-based economic development community. Most of them are slated for termination or phase-out in FY 2008.
Treasury requests $24.4 million for the Community Development Financial Institutions Fund (CDFI) Program (21 percent decrease from FY06 appropriation) and $4.12 million to administer the New Market Tax Credits Program (NMTC), a 3.2 percent decrease. The NMTC Program provides credit against federal income taxes to taxpayers making qualified equity investments in designated Community Development Entities in order to attract private capital investments in low-income communities.
Both the Bank Enterprise Award (BEA) and CDFI Native Initiatives, including the Native American CDFI Assistance (NACA) Program are slated for elimination in the budget. The programs received $13.4 million and $5.8 million in FY06, respectively.