As stated above, advocacy for state and neighborhood policies that help CED is really a key section of this model. In 2000, the overall Assembly passed the landmark sc Community Economic developing Act, authorizing ten dollars million in funds, loans and income tax credits to certified CDCs and CDFIs. A $5 million taxation credit has drawn significantly more than $15 million in personal assets in low-wealth communities through certified CDCs and CDFIs, which leveraged one more $85 million in money. This motivation provides investors a 33 % state earnings, business or bank income tax credit, appearing investors can get returns on assets in low-wealth communities.
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