Community Investment Tax Credits Program

Community Investment Tax Credits Program Main_Content ​​​​​​​​​​​​​​​​​​​​​​Community Investment Tax Credits support 501(c)(3) nonprofit organizations by awarding allocations of State tax credits for use as incentives to attract contributions from individuals and businesses to benefit local projects and services. Community Investment Tax Credits complement other State Revitalization Programs which offer resources to assist communities with revitalization efforts. As part of an annual, competitive application process, 501(c)(3) nonprofit organizations apply to the Maryland Department of Housing and Community Development for tax credit allocations. The Community Investment Tax Credit program has leveraged nearly $27 million in charitable contributions to approximately 700 projects across the State. Businesses and individuals that donate $500 or more to a qualified organization’s approved project(s) can earn tax credits equal to 50% of the value of the money, goods or real property contribution. These tax credits are in addition to the deductions on both Federal and State taxes as a result of the charitable contribution. Visit GIVE Maryland​ for information on specific projects and donate now to nonprofits that have available tax credits. Individuals and businesses must use the tax credits against taxes owed for the year in which the contribution was made and may not be used retroactively for taxes from a prior year. An​y individual or business contemplating making a donation is encouraged to consult with their accountant or tax professional for information about their specific tax benefits. Eligible Applicants IRS designated 501(c)(3) organizations are eligible for CITC to support initiatives in and/or serving Priority Funding Areas. Eligible Projects Projects must be located in or serve residents of a Priority Funding Area (see ​​ Neighborhood Revitalization Mapper​ ). Projects can be capital and/or operating and typically involve activities such as: Education and Youth Services Housing and Community Development Job and Self-Sufficiency Training Enhancing Neighborhoods and Business Districts Arts, Culture and Historic Preservation Economic Development and Tourism Promotion Technical Assistance and Capacity Building Services for At-Risk Populations Visit GIVE Maryland for information on specific projects funded by Community Investment Tax Credits. Additional consideration will be given to initiatives that address the overarching priorities of the Moore-Miller Administration, including ensuring that all those who want to live in Maryland can do so. In addition, priority consideration will be given to those projects and places that reflect the core objectives of MD DHCD (listed below), including to create great, lovable places and to right the wrongs of the past. Great places – lovable places– result from consistent targeted investment in locally-driven and inclusive community reinvestment plans. Investments in designated Engaging and Households (ENOUGH) areas, addressing the community conditions surrounding children in poverty, enriching community assets and services for youth. Investments in designated Just Communities transforming neighborhoods into thriving communities where all Marylanders, regardless of background, have access to fair housing, and economic stability and opportunity, righting the wrongs of the past. Increased housing production, including mixed-income, middle market and affordable housing. Increased household and generational wealth building, such as through homeownership, legacy homeowner renovations, and small business development. Accelerated elimination of vacant properties, particularly in Baltimore City. Eligible Contributions

Eligible Applicants IRS designated 501(c)(3) organizations are eligible for CITC to support initiatives in and/or serving Priority Funding Areas.